Homes for Sale in Balboa Island in Newport Beach | Market Report June 2013
Balboa Island in Newport Beach is a charming area of Newport Beach. Balboa Island consists of three islands in Newport Beach and the islands include the main island, the little island and Collins Island. Collins Island in Newport Beach is a gated community and has only 8 homes located on it, and these homes on Collins Island have incredible views of Newport Harbor. Balboa Island is a highly sought after area of Newport Beach. People move to Balboa Island because of their lifestyle. Balboa Island has an amazing lifestyle and is a unique charm, with close proximity to upscale shopping and dining in Newport Beach. And take the ferry across to the Balboa Peninsula to visit the beach.
In general, Balboa Island is showing a stable market trending towards a seller’s market with the absorption rate. Currently, the inventory is as follows for June 2013. There are currently 9 active listings, 1 in back up, 2 pending sales, and 2 sold properties on Balboa Island.
9 active listings compared to 12 in May 2013
1 back up listings compared to 0 in May 2013
2 pending sale compared to 1 in May 2013
2 sales compared to 6 sales in May 2013
The average sales price for the past one year is 2,292,777 and a price per square foot of $995.31 and a median price of$1,825,000 and a median price per square foot of $941.92. Both the average and the median price are up over last month.
This trend is showing a strong seller’s market in Newport Beach. The number of listings did decrease from the prior month. There is still also a very low absorption rate.
Search the MLS for Balboa Island homes for sale.