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

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 very unique and desirable place to reside in Newport Beach.

Homes for sale on Balboa Island

There are two ways to arrive on Balboa Island in Newport Beach, one is on 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.

Balboa Island in Newport Beach

There is a boardwalk around Balboa Island, and you will see people beginning their day by walking, jogging, or walking their dog around both the main island and the little island of Balboa Island in Newport Beach.

Currently, there are 24 active listings on Balboa Island in Newport Beach3 in back up status, 2 in pending and there were four sales in October.  Of the active listings, there are no REO properties, and there is one short sale.

Sales are down -1 from September, 2011

With regards to the sales for the past 12 months on Balboa Island -  seven were short sales, and there was one REO.

Balboa Island market update

Balboa Island absorption rate

Balboa Island currently only has one home listed under a million dollars and it is a short sale, and it is the only short sale that is for sale currently. In my opinion, the number of short sales and REO sales in this area will be low in comparison to standard sales. Balboa Island has always been highly sought after area. In my opinion, it is a great time to buy and enjoy the lifestyle on Balboa Island in Newport Beach.

Search for homes for sale on Balboa Island in Newport Beach.

If I can answer any questions about Balboa Island homes for sale in Newport Beach, please contact me.

Originally posted at NewportBeachRealEstateCafe.com

 

7 commentsSharon Paxson Newport Beach Real Estate • November 11 2011 04:09PM

Balboa Island in Newport Beach - Market Update

Balboa Island in Newport Beach is a highly sought after area. Buyers choose to live on Balboa Island because of the lifestyle.

 

Balboa Island

Balboa Island in Newport Beach is a man made set of three islands that are located in Newport Beach. The three islands of Balboa Island include – the main island, the little island and Collins Island. Collins Island has only 8 homes on it, and it is a gated area of Balboa Island.

 

Homes for sale on Balboa Island

The main island of Balboa Island has approximately 1450 home sites located on it. To access Balboa Island in Newport Beach, you must either cross a  bridge off Bayside Drive to enter Balboa Island the street is called Marine Avenue. There is all kinds of shopping and dining on Marine Avenue in Newport Beach. The streets of Balboa Island are named after semi-precious stones such as Jade, Opal, Amethyst, Crystal, and Onyx. Balboa Island is located off Bayside Drive in Newport Beach.

 

The other way to arrive on Balboa Island is via the Balboa Island ferry. The ferry holds three automobiles, pedestrians and bikes, and crosses from the Balboa Peninsula to the island. It is a short crossing (less than five minutes) but worth the journey none the less. Enjoy the beautiful Newport Harbor, view the boats, and of course the spectacular bay front Newport Beach homes.

 

Currently, there are 26 active listings, five pending sales, and there have been two sales in June, 2011.

 

Balboa Island in Newport Beach

Search the MLS for homes for sale on Balboa Island in Newport Beach, and Newport Beach real estate.



Originally posted at NewportBeachRealEstateCafe.com