Market Update on Balboa Island | February 2013 | Homes for Sale on Balboa Island
Balboa Island in Newport Beach is a highly sought after area in which is comprised 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 is a beautiful area of Newport Beach and unique charm, with close proximity to Fashion Island 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 February 2013.
12 active listings compared to 7 in January 2013
4 back up listings compared to 2 in January 2013
5 pending sale compared to 0 in January 2013
3 sales compared to 3 sales in January 2013
The average sales price for the past one year is $1,840,000 and a price per square foot of $924.08 and a median price of$1,925,000 and a median price per square foot of $924.08.
There were a total of 2 short sales in the past year on Balboa Island Homes for sale.
Search the MLS for Balboa Island homes for sale.