The Hillhurst subdivision in Ridgefield, Washington was placed in the county records in November 2003. There are 117 platted lots, including some with older houses on them. Roughly 24 of the lots, or 21% of the development appears to have been existing housing (according to on line county records). I was not able to tell from the county records how many of the lots have been built on. However, the MLS reports that since 01/01/2004 there have been 32 sales of new houses.
I went into the development yesterday to look at a house in foreclosure. I saw lots of for sale signs along the street. The MLS shows 19 active listings in the subdivision with an additional three pending sales.
Of the 19 listings there were nine noted in the listings or county records as being foreclosures or bank owned. There were five notations of “price reductions.”
Hillhurst has a lot of product on the market with little demand at this time.
Pacific West Appraisal Services, Inc.
pwas.net