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Balboa Island Homes for Sale | Market Update | July, 2013

Balboa Island Homes for Sale | Market Update | July, 2013

Homes for Sale in Balboa Island in Newport Beach | Market Report July 2013

Balboa Island is the island located in the background, with the Balboa Peninsula located in front. This is a great aerial shot of the Balboa Pier in Newport Beach.

Balboa Island 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 desirable 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 July 2013. There are currently 10 active listings, 2 in back up, 1 pending sales, and 1 sold properties on Balboa Island.

The average sales price for the past one year is 2,316,417 and a price per square foot of $1,046,97 and a median price of $1,837,500 and a median price per square foot of $971.28. Both the average and the median price are up over the prior month. Regarding the sales for the past one year, there were 2 short sales, and one REO, all the other sales were standard sales.

This trend is showing a strong seller’s market in Newport Beach.  The number of listings did decrease from prior month. There is still also a very low absorption rate.

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ABOUT ME

Sharon Paxson is a full-time REALTORĀ® with EQTY | Forbes Global Properties and has been specializing in residential real estate throughout the Newport Beach area since 2005 assisting Buyerā€™s, Sellerā€™s, Landlords, and Tenants with their real estate needs.

If you are thinking about buying, selling or renting your home, condo or other Real Estate in the following areas including Newport Beach, Newport Coast, Corona del Mar, Huntington Beach there are thousands of Realtors to choose from. However, it doesn't cost you any more to work with aĀ top Newport Beach CA Realtor. We welcome the opportunity to show you how we get outstanding real estate results with specific and targeted marketing. If you are looking for a top real estate agent who will make a difference you have come to the right place. Use this real estate website to learn about communities and homes for sale.

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DISCLAIMER: All information, photographs & content contained on this site is the property of Sharon Paxson. You must obtain written permission from Sharon Paxson if you would like to use any of this content contained herein. Opinions expressed are those of Sharon Paxson and may not necessarily be opinions of past and present brokers. Articles may be time and date sensitive. All statistical information utilized to create market reports has been obtained from the CRMLS. Information Deemed Reliable but not Guaranteed.

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