Balboa Island Homes for Sale | Market Update | December, 2013
Balboa Island is seen in the background, with the Balboa Peninsula located in the foreground with the Balboa Pier. Balboa Island is a highly sought after 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 the lifestyle. Balboa Island has 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 sellers market with the absorption rate.
Currently, the inventory is as follows for December 2013. There are currently 16 active listings, 3 in back up, 1 pending sales, and 3 sold properties on Balboa Island. The average sales price for the past one year is 2,330,021 and a price per square foot of $1,093.43 and a median price of $2,012,500 and a median price per square foot of $984.91. Average days on market were 88 and CDOM was 91 for the past one year. The absorption rate is below, and the six-month figure shows a stable market, however the past three months there has been a decline in average number of sales per month.
Search the MLS for Balboa Island homes for sale, and Newport Beach real estate for sale, and bayfront homes on Balboa Island for sale in Newport Beach. Search for Balboa Island houses for sale.
