Newport Real Estate News – Balboa Island Real Estate 12-16-10

Newport Real Estate News – Balboa Island Real Estate

Balboa Island is a lovely place to call home located in the middle of the Newport Bay which is one of the largest pleasure yachting harbors in the world.

Balboa Island is actually made up of 3 artificial islands – Balboa Island, Little Balboa Island and Collins Island. In 1916, Balboa Island became part of Newport Beach.

Balboa Island

Balboa Island is connected to the mainland by a two lane bridge off of Jamboree on the northeast of the island. On the opposite side of the Island, access is via the Balboa Ferry which operates three private ferries to and from the island 7 days a week providing a lovely trip on the Newport Bay for a nominal fee. The ferry carries cars, pedestrians and bicycles throughout the year. Ferry passengers are taken from Balboa Island to the Balboa Fun Zone an area with arcades, restaurants, shops, a ferris wheel, merry go round, boat rentals and other attractions.

Balboa Island Ferry

Between 1908 and 1909, waterfront lots were selling between $350 and $750, with rumors that were sold for as little as $25. A far cry from today, when even in a “down” market, the homes sell from just under $1.4 million to just under $10 million. To see a list of homes currently for sale on Balboa Island, please see Balboa Island Homes for Sale.

The current Balboa Island Market Report is below: