Recently Sold Homes On Balboa Island

Balboa Island continues to stand out as one of the most desirable communities in Newport Beach — a charming coastal enclave with strong long-term value. While the market has cooled from the frenzied pace of the post-COVID real estate boom, demand remains steady due to one unshakable factor: low inventory.

Recent Balboa Island Sales & Current Market Values

In recent months, several notable sales have closed on Balboa Island, highlighting current pricing trends.

Balboa Island Lot Value Homes (older homes primarily valued for land): typically range from $3.2M to $3.5M, depending on location, lot size, and proximity to the water.
New Construction homes are commanding $5.5M to $7M+, especially those with premium finishes, rooftop decks, or corner locations.

This price resilience reflects the island’s rare blend of small-town charm, walkability, and access to the water — all within reach of world-class dining, shopping, and beaches.

Balboa Island Inventory Is Low — And That’s Keeping the Market Strong

One of the biggest market forces at play right now is the lack of available inventory. Many current owners secured mortgages during the era of record-low interest rates, and with financing now significantly more expensive, they’re staying put. Fewer homes on the market means competition is still present for quality listings — especially homes with unique features, views, or ideal locations.

Adding to this dynamic, Balboa Island is one of the Newport Beach communities with the highest proportion of second homes and investment properties. Many of these owners have little incentive to sell unless the price is right, which further limits turnover.

LA Fire Victims May Drive Future Demand,

Another factor that may soon impact the market is the displacement of homeowners affected by recent wildfires in Los Angeles. Many of these families have been temporarily renting on Balboa Island and in surrounding areas of Orange County. As they work through the details with insurance companies, many are considering making a permanent move to Newport Beach — especially given the lifestyle and community feel of Balboa Island. Expect increased demand over the next one to two years as these buyers re-enter the market with strong purchasing power. So far, most of the fire victims have done an immediate rental. They are waiting on insurance results and whether they like where they live before they decide to buy here or move elsewhere!

Work with a Local Expert You Can Trust

Navigating a unique market like Balboa Island requires insider knowledge, strong relationships, and a deep understanding of property value — and no one knows the island better than Steve Roose, broker and owner of Luxury Real Estate.

Steve is a longtime Balboa Island resident, a trusted local expert, and a family-first kind of guy who has earned a reputation for integrity, service, and results. He’s helped countless families buy and sell on the island, and his 5-star reviews on Google are a testament to how much his clients appreciate his commitment.

From mortgage lenders, escrow and title officers to contractors, electricians, and custom home builders, Steve is connected with the very best service providers in town. He treats clients like family, ensuring every detail is handled with care.

If you’re thinking about selling your Balboa Island property, don’t settle for agents or appraisers pushing their own agendas — especially those trying to partner with spec builders looking to buy below market value. Steve Roose will give you a true valuation and a tailored marketing plan designed to help you get top dollar, not just a quick flip.

Contact Steve Roose today to schedule a no-pressure consultation and discover how much your Balboa Island home is truly worth. Whether you’re buying, selling, or simply exploring options, Steve is here to serve his neighbors — with heart, honesty, and hometown pride.