Balboa Peninsula is a highly sought after area in Newport Beach with bay front as well as ocean front homes and condos for sale. 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 to reside in Newport Beach. The residents on the Balboa Peninsula 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.
Currently, there are 71 active listings (6 are short sales) on Balboa Peninsula in Newport Beach, 7 in back up status (4 are distressed sales or short sales) , 1 pending, and a total of 3 sales in the month of March, 2012.
The average price of homes that sold during the month of March, 2012 is $1,663,333 with a price per square foot of $658.93.
The average price of homes sold the past year on the Balboa Peninsula is $2,520,887 with a price per square foot of $766.64.
71 Active listings compared to 68 in February, 2012 - down -3
7 Back up listing compared to 2 in February, 2012 - up +6
1 Pending sale compared to 6 in February, 2012 down -5
3 Sales compared to 8 in February, 2012, down -5
Past months market reports
February, 2012
January, 2012
December, 2011
November, 2011
October, 2011
September, 2011
The absorption rate remains high on Balboa Peninsula in Newport Beach, however it is trending down from last month. Last month (January, 2012) the three month absorption rate was 18.5 months, and in February, 2012 it is now 15 months. Homes are selling.
Originally posted at NewportBeachRealEstateCafe.com
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