Review current Balboa Island real estate market report of up to date sales to make an important investment decision. Balboa Island is located in Newport Beach.
Video of Balboa Island Home Sales July 2022
Balboa Island Home Sales July 2022 vs July 2021
| Balboa Island Real Estate Statistics | July 2022 | July 2021 |
|---|---|---|
| Average selling prices of houses | $4,605,837 | $3,881,204 |
| Average days on market before receiving an offer | 31 | 44 |
| Amount of Inventory for sale in months of time | 1.10 | 3.90 |
| Number of homes on Balboa Island that sold year to date | 21 | 33 |
| List to Sale Ratio: 100% equals full price offers accepted | 98.70% | 96.90% |
| Average price per square foot of home sales | $2,175.00 | $1,872.00 |
Quick Summary of Balboa Island Real Estate
I like to share the average selling prices for Balboa Island homes over a median list or sales price. I find the average home selling prices are similar to what I would share with you if I was representing you as your listing agent or buyer’s agent in a transaction.
The average selling price is $4,605,837. That is up 18.70% from 2021 at this time in July. It is taking 31 days for a Balboa Island home to receive an offer and open escrow.
Balboa Island homes are selling for 98.70% of the listed price. I always say price the home to sell and your chances of getting an offer from a buyer are high…instead of overpricing and sitting on the market for a long time.