MORE ABOUT GRAND RIDGE IN CAMAS, WA
Grand Ridge in Camas, Washington is an interesting study. Construction of houses in Grand Ridge began in 1999. The market was good and construction progress was brisk for six years or so. It is a well received and well placed development with good views to the south and west.
Today, there are about 20 existing properties listed and not a sale since September 2007. There are two pending sales at this time.
Although some houses are higher priced and some lower, the bulk of the development is in the $500,000 to $1,000,000 range. Looking at all the MLS data for Camas, WA in the last six months in the $500,000 to $1,000,000 range, there were 19 sales. The average sales price was $681,200 with a 95.77% sales to list price ratio and an average of 134 days on the market. In the previous six months (the 6 to 12 month range back from today) there were 40 sales with an average of $681,794 with a 95.46% list to sales price ratio and an average 104 days on the market.
The average sales price hasn’t changed, the statistics say. The list to sales price ratio hasn’t changed, the statistics say. Yet, Grand Ridge hasn’t had a sale since last September. This is not an in depth study of that market. It is just a glace at MLS statistics. Maybe the continued competition of new construction is part of the cause of the slowness of activity in Grand Ridge. Perhaps the enthusiasm of current property owners to hold prices high in the face of increased competition and softening market is a contributing factor.
In Grand Ridge the current average list price is $798,359. The current average days on market for these, as yet unsold houses, is 159 days.
In all of Camas, there are 130 active listings in this half million to million dollar range. The average list price is $680,461. The average days on market for these yet unsold houses is 116 days.
So, some of the statistics portray stability. Some portray a faltering market. One must be careful how one looks at these figures. However one might analyze the Camas market in general, it can be said that Grand Ridge is stuck in the Horse Latitudes.
Pacific West Appraisal Services, Inc
pwas.net
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