Homes for Sale on Balboa Island | Market Update Balboa Island | March, 2013
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 the 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 March 2013. There are currently 10 active listings, 6 in back up, 4 pending sales, and 3 sold properties on Balboa Island. There were two short sales in the past year, and all of the other sales were standard sales.
The average sales price for the past one year is 2,274,980 and a price per square foot of $960.77 and a median price of$1,815,000 and a median price per square foot of $888.20.
There were a total of 2 short sales in the past one year on Balboa Island Homes for sale.
Past months market reports below.
This trend is showing a strong seller’s market in Newport Beach. The number of listings did increase from prior month. There is still also a very low absorption rate.
Search the MLS for Balboa Island homes for sale, and Newport Beach real estate for sale, and bayfront homes for sale in Newport Beach.
Balboa Island has a lot of beautiful homes, but not many for sale. Have a great spring bread trip, and don’t drink the water.