Balboa Island Housing Prices October 2022. The video and blog post answer the question that most of our clients are asking “How is the housing market in Newport Beach on Balboa Island “?
Housing Prices Comparison Balboa Island vs Newport Beach
Whether you are investing in a house on Balboa Island or another part of Newport Beach, it is always best to review the current trends in the marketplace.
|Real Estate Categories||Balboa Island 2022||Newport Beach October 2022|
|Average selling prices of homes||$5,020,732||$4,294,150|
|Average Days on Market before the home sells||30||30|
|Inventory of Homes in Months of Supply||1.20||2.50|
|Total Home Sales Year to Date||24||428|
|Average Price per square foot||$2,321||$1,510|
|Percentage of the Listed Price that Homes Are Selling For||98.50%||99.50%|
|Number of Showings to Create A Contract||1.50||8.10|
Video: Balboa Island Housing Prices October 2022
This is a video comparison between the Newport Beach neighborhood of Balboa Island verse the city of Newport Beach for October 2022. I go more in depth in the video for Balboa Island homes for sale.
Pricing Comparison Chart
The prices and real estate data is taken from the California Regional Multiple Listing Service and is deemed reliable but no guaranteed. It contains data from properties that were listed and sold by different real estate companies.
Pricing Chart between Balboa Island verse Newport Beach homes:
Percentage of the Listed Price
The list to sales ratio gives you a good indicator of how flexible home sellers are when it comes to selling their homes. 100% equals full price offers. I have seen some homes selling for 107% of the listed price. That usually means there were multiple offers.
Historical Home Sales
You can see from this chart that sales are down on Balboa Island by 51% and Newport Beach by 36.40%. That could be due to the increase in the interest rate. What do you think it is?
If you are thinking of buying a house or selling your property, let’s meet and create a strategy. Call me at 562-413-7655.