Balboa Island in Newport Beach is a man made set of three islands which 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.
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 takesyou to the beach and waves.
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 27 active listings (all standard sales), two in back up, one in pending, and there were five sales in the month of August, 2011 - all the sales were standard sales.
In my opinion, the trend is from a buyers market to a stable market at this time. One year ago, the absorption rate was almost 8 months, and for the month of August it is now a 5.4 months making it a stable market.
The list price per square foot of the active properties listed for sale on Balboa Island in Newport Beach is $1068. The sold price per square foot for the month of August, 2011 is $981.82. Prices on Balboa Island in Newport Beach are holding their own, selling at a very close price per square foot as what they are listed at. The sale price versus list price is 93%, and the sale price versus original list price is 88%.
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