Balboa Island Homes for Sale | Market Update | August 2013
Balboa Island is the island located in the background, with the Balboa Peninsula located in front.
Balboa Island is a charming area of Newport Beach. Balboa Island in Newport Beach 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. Buyers move to Balboa Island because of their lifestyle. Balboa Island has 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 August 2013. There are currently 9 active listings, 3 in back up, 3 pending sales, and 1 sold properties on Balboa Island.
The average sales price for the past one year is 2,394,988 and a price per square foot of $1,087.51 and a median price of $1,825,000 and a median price per square foot of $984.91. Regarding the sales for the past one year, there was one short sale, and one REO, all the other sales were standard sales.
The absorption rate is below, and the six month figure shows a seller’s market, however, the past three months there has been a decline in an average number of sales per month.
Search the MLS for Balboa Island homes for sale.
