$4,595,000
2,241 SqFt
4 Beds
•4 Full Baths
Summer Perry, Listing Office: Compass
Is Balboa Island, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Balboa Island was a Neutral Market.
Key Takeaway
Balboa Island is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Balboa Island, CA
How much do homes in Balboa Island, CA cost?
Median Sold Price
$4,650,000
$2,027/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$875,000(+23.2%)
Key Takeaway
Homes in Balboa Island have sold for 23.2% more than they did a year ago.
Summary: The median home sold price in Balboa Island was $4,650,000 in September 2024, up 23.2% from last year, and the median price per square foot was $2,027.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $2.7M | - | N/A |
| 3 Bedrooms | $4.2M | $5.3M | +24.0% |
| 4 Bedrooms | $3.4M | $5.9M | +75.7% |
| 5+ Bedrooms | $3.2M | $3.2M | -1.8% |
Summary: Balboa Island housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 24%, 4 bedroom homes increased by 75.7%, and 5+ bedroom homes decreased by 1.8%.
Housing Supply in Balboa Island, CA
How many homes are available in Balboa Island, CA?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 19 | 24 | +26.3% |
Summary: The Balboa Island real estate market had 24 homes for sale in September 2024, a 26.3% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 8 | 10 | +25.0% |
| 4 Bedrooms | 6 | 8 | +33.3% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Balboa Island housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Balboa Island, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Balboa Island in September 2024, down by 33.3% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Balboa Island, CA
How long does it take to sell a home in Balboa Island, CA?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Balboa Island has remained consistent over time.
Summary: During September 2024, 2 homes were sold in Balboa Island; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.