Balboa Island in Newport Beach - Market Update - December, 2011

By
Real Estate Agent with HÔM Sotheby's International Realty, BRE License 01501912

Balboa Island in Newport Beach is a man made set of three islands in Newport Beach and they 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. The homes on Collins Island have incredible views of Newport Harbor. Balboa Island is a highly sought after area of Newport Beach.

Are you looking to visit Balboa Island in Newport Beach, then you can take the Balboa Island Ferry which makes a very short passage from the Balboa Peninsula in Newport Beach. It is about a 3 or 4 minute trip, but well worth it. The ferry transports three autos, bicycles, and pedestrians. The beauty if living on Balboa Island is enjoying the bay life style and a quick trip over to the Balboa Peninsula takes you to the sandy beaches and waves.

Homes for sale on Balboa Island

Currently, there are 15 active listings, 1 is in back up,  2 are pending and there were three sales in the month of December, 2011. The sales have increased from the prior month.

 Listings are down -7 from November, 2011

Back up is down from November, 2011
Pending is down -1 from November, 2011
Sold is up +3 from November, 2011

Of the 42 sold homes in the past one year, there were seven distressed sales - six were short sales, and one was a bank owned or REO property. In general, Balboa Island is showing a stable to a seller's market with the absorption rate.

Balboa Island absorption rate

In my opinion, the stable market will continue and we may see a positive trend towards a seller's market with the declining inventory and the increase in sales.

Search the MLS for Balboa Island homes for sale, and Balboa Island real estate.

Originally posted at NewportBeachRealEstateCafe.com

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Comments 4 New Comment

Rainmaker
669,014
Sharon Parisi
Dallas Homes
Keller Williams Dallas Premier Realty

I am thrilled for Balboa Island!  May the trend continue throughout 2012!

January 23, 2012 12:08 AM
Rainmaker
637,292
Elite Home Sales Team
Tenacious and skilled real estate team
Keller Williams Realty

Oh yea Balboa needs the advertisement.  It a place to see for sure.

January 23, 2012 12:08 AM
Ambassador
415,352
Stacey Smith
Your Orange County Beach Cities Realtor
Harcourt's Prime Properties

Sharon I love your pictures and you do great market reports! I was just reminded that we need a Javier's date again soon! :)

January 23, 2012 12:14 AM
Rainmaker
649,467
Sharon Paxson
Newport Beach Real Estate - HOM Sotheby's Int'l Re
HÔM Sotheby's International Realty, BRE License 01501912

Hi Sharon - I am hoping the trend continues to be a sellers market as well.

Hi Mark - it is a great place to see and visit. I love the island

Hi Stacey - definitely - we have to plan it.

January 23, 2012 11:21 AM
Rainmaker
649,467

Sharon Paxson

Newport Beach Real Estate - HOM Sotheby's Int'l Re
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