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.
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
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.
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.
Originally posted at NewportBeachRealEstateCafe.com