Balboa Peninsula in Newport Beach is a beautiful area with bay front as well as ocean front homes. There are both Newport Beach condos for sale, and Newport Beach single family homes as well. The Balboa Peninsula in Newport Beach is a great place a highly sought after area to reside in Newport Beach. People live in this area for the lifestyle, as it is very easy to either walk to your destination, or to ride your bike to your Peninsula location. Enjoy shopping and dining on the Balboa Peninsula in Newport Beach.
There is a brand new Pavilion’s grocery store at 32nd Street, in Newport Beach, and several fantastic restaurants including El Ranchito, and Ho Sum Bistro just to name a few. If you are looking for more upscale dining, then you might consider Ocean Front 21 located by the Newport Beach Pier.
The Balboa Peninsula is home to the Pavillion in Newport Beach.
Currently, there are 77 active listings on the Balboa Peninsula in Newport Beach. That includes both condos and single family homes. Only one of the active listings is a short sale, all the others are standard sales. Since November 1, 2011 there have been 2 sales on the Balboa Peninsula in Newport Beach.
Listings are up +5 since October, 2011
Back up are down -1 since October, 2011
Pending are the same since October, 2011
Sales are the same since October, 2011
The one month absorption rate shows 38.5 months. One month is not generally a trend, however, the Balboa Peninsula has been selling between two and five homes per month. Real estate is cyclical also, and the number of sales may be decreasing because of the holiday season.
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Sharon,
It says a lot for the Peninsula that only 1 of 77 listings is a short sale. It is exciting to have the new Pavillion’s grocery store. I need to get back soon and check it all out.
This is a fabulous market report on Balboa Peninsula. Great pictures and a nice overview of where the market stands.
I'll take the house in the first picture with the blue chaise. Can you just see me with my wine? I'd know EVERYBODY!
Sharon
Your photos really showcase the Balboa Area, one of my faves in your neck of the woods. I would suggest that the 1 month absorption, compared to longer periods, may only indicate a slowing of the market which is not surprising at this time of year. Quite frankly, iin the long term I don't think you can say much about that short a time period, as you suggest.
I agree with Thom, although I could handle any of the homes with this view...I think.
Jeff
Hi David - yes only one is a short sale, which is good news. There is just so much inventory right now!
Beautiful pictures... I can see why people want to live there! Good luck with your December challenge.