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.
Search the MLS for Balboa Island homes for sale.