Balboa Peninsula Market Update | November, 2011

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.

Search the MLS for Balboa Peninsula homes sale, and Newport Beach homes for sale.