Balboa Island Homes for Sale | Market Update | April, 2015
Balboa Island is a highly sought after area of Newport Beach. Balboa Island in Newport Beach is located in the Lower Newport Bay in Newport Beach, and consists of three islands in Newport Beach. 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. 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.
Balboa Island in Newport Beach definitely is a destination area, and many visitors vacation in this area, and want to enjoy the lifestyle. Marine Avenue on Balboa Island does have upscale dining and shopping.
Balboa Island does have bay front homes which do have gorgeous Newport Harbor views. Many bay front homes in Newport Beach do have with boat slips.
The statistics for Balboa Island are as follows for the month of April, 2015:
Active: 14
Back up: 4
Pending: 3
Sold: 3
Average sales price for month of April, 2015 is $2,499,324 with a price per square foot of $1,098.31.
Median sales price for month of April, 2015 is $2,262,500 with a price per square foot of $1,006.44.
Average DOM/CDOM: 99/148
The highest priced home sold in the past year on Balboa Island sold on 10/20/2014 for $7,200,000 and the house was on 810 South Bayfront.
In general, Balboa Island is showing a seller’s market trending with the absorption rate.