The size of this peninsula means that only so many homes will be for sale.
The limit of available homes selling in Balboa Peninsula is real. The scarcity is land and the number of homes is only going to be so high and only a percentage will be for sale. If you live here, who would want to leave? Starting at $42M and working their way in price down to the small mobile home at $215K, most of them are at least a million. Rentals start on the high end at $50,000 per month to rent one home. Balboa Peninsula was carved out by the 1938 OC flood. It’s been a popular place to have a home ever since.
The next 100 year flood is hopefully going to be better managed by the series of control dams throughout Orange County.