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.
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.
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 22 active listings, 2 are in back up, (one of the properties in back up is a short sale), 3 are pending and three was one sale in the month of November, 2011. The sales have dropped from prior months of approximately four sales per month.
Listings are down -2 from October, 2011
Back up sales are the same from October, 2011
Pending sales are the same from October, 2011
Solds are down -3 from October, 2011
Because there was only one sale last month, the absorption rate increased from approximately five months which is a stable market to a buyers market with 11 months of inventory. In my opinion, this may be cyclical because of the holiday season. When compared to last November, 2010 - sales are down -1, as there were two sales in November, of 2010.
Originally posted at NewportBeachRealEstateCafe.com
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Sharon there are few places in the country that compare to Balboa Island or Peninsula. What a terrific place to live and work. Wish I were out on the pier right now.
I am sure that the reason only one sold is the time of year. We should see what happens with Balboa Island sales in January.
Balboa is, for sure, one of the best little places in all of California!
Hi David - thank you for the comment and I also love Balboa Island and Peninsula.
Hi Jane - I think it is the holiday season for sure. They were clicking on about 4/month and now a decline. Like you say - lets see what happens in January.
Hi Kat - I love Balboa Island and it definitely has it's own charm. It is a beautiful area.
Sharon If I don't get by this way before now and then Arthur and I wish you and your family a Merry Christmas and a Happy, Healthy and Prosperous New Year
HI Karen - thank you so much - and Merry Christmas and Happy New Year to you and your family as well.