Balboa Island - Newport Real Estate & Homes for Sale in California
Comprised of a string of three man-made islands in Newport Beach Harbor, California?Balboa Island, Little Balboa Island, and Collins Island?the community of Balboa Island is a luxury offshore paradise that sits near the commercially famous county of Orange. Approximately 3,000 residents live on just 0.2 square miles, making Balboa Island a close-knit community of shared interests. Home to families, retirees and professionals, Balboa Island features a safe, small town environment with a ?Main Street? atmosphere. (more)
Those who work and live on the island commute via golf cart or bicycle and for those heading for the mainland the island community is joined to Newport by a short two-lane bridge on the northeastern most part of Balboa Island. The privately-operated three-car Balboa Island Ferry provides access across the harbor to the Balboa Peninsula. Marine and Agate Avenue as well as the major thoroughfare of Jamboree Road that passes through Newport Beach and ends in Balboa Island form the commercial shopping strips of Balboa Island.
Surrounded by water, Balboa Island is a special spot for beachcombing, a stroll on the boardwalk for endless ocean views, jet skiing and boating. For landlubbers, rollerblading, biking and shopping the promenades lend to luxury beachfront living. Presenting one of the most exclusive neighborhoods in Southern California, Balboa Island offers smaller lots and luxury waterfront homes complete with beachside amenities, a virtual year-round summer and utopian lifestyle.
Real Estate Market Summary: Prices of Balboa Island - Newport Homes for Sale
Balboa Island offers exclusive luxury homes and beachside cottages with phenomenal bay views. Despite having some of the country's most expensive homes, most of the dwellings are on small lots. The perimeter of the island along the Bay Front is dotted with piers for homeowners' boats. Interior properties typically range in price from $1.5 million for a small bungalow to $3.5 million for larger homes with private docks or beach access.(more)
Townhomes and condominiums in Newport Beach are rarely available and are usually priced in the mid $800,000s. Land property is not available on Balboa Island; however, nearby Newport Beach properties range from $800,000 to $4 million, depending on acreage, topography and water views/access.
Balboa Island - Newport Real Estate Stats and Trends for the week of April 18th, 2020: homes priced around $3,292,105 compared to $3,292,105 the previous week, to remain steady with no change in listing price. For Saturday, April 18th, the current national mortgage rate for a 30 year fixed mortgage is 4.51%; the 15 year fixed rate is at 3.90%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.41%, while the 15 year jumbo rate currently is at 4.12%.