Damage assessment teams were on Sunday combing through the village before authorities give the green light for residents to return.
Matthew Deeth, the mayor of the neighbouring Wollondilly Shire Council, says the fires took a heavy toll on Balmoral.
"They were all banding together until they got hit yesterday and they were just decimated," he told AAP.
"Most people were pulled out of their houses and if there was nobody defending houses they kind of just all lit up."
NSW Premier Gladys Berejiklian says she wants residents to be able to get home as soon as safely possible.
"Even if people have lost their properties, they still want to go back to see what's left and if there is anything I can salvage, we know that's part of the recovery," she told reporters.
"We want people to have access to their land, to their property as soon as they can but it has to be safe as well and the expert teams will make sure that happens as soon as possible."
Ms Berejiklian said damage assessment teams had relayed the "devastating" news that "there's not much left in the town of Balmoral".
Balmoral, in the Wingecarribee Shire Council area, consists of about 150 houses with a population of about 400 people.
The community was already reeling after being hit on Thursday when the flames returned on Saturday during catastrophic fire conditions.
NSW Rural Fire Service Commissioner Shane Fitzsimmons says as many as 100 buildings across the state may have been lost in bushfires since Saturday, including houses and other structures.
"The detailed analysis that is going on in the field now, will seek to differentiate between what is what is a home, what is a house, what is a shed. But the toll is significant," he told reporters. .
Most of the losses were from the Green Wattle Creek fire, the huge Gospers Mountain blaze northwest of Sydney and the Currowan bushfire on the South Coast.
SNAPSHOT OF FIRES RAVAGING AUSTRALIA
- Almost 200 fires burning across the country
- Seven people have been killed
- More than 900 homes lost in this year's bushfire season: NSW - 789, Queensland - 40, South Australia - 72, Western Australia - one
- Thousands of outbuildings destroyed or damaged, stock and crops destroyed
- 2000 koalas feared killed
NEW SOUTH WALES
- 110 fires, of which almost 60 are uncontained
- 2 volunteer firefighters, Geoff Keaton and Andrew O'Dwyer, killed as well as four others on the Mid-North Coast - Vivian Chaplain, 69, and George Nole, Julie Fletcher, 63, and an unnamed 58-year-old man
- 100 buildings destroyed over weekend alone
- Smoke continues to affect Sydney
Fires:
- Huge Gospers Mountain blaze northwest of Sydney, areas hardest hit include Lithgow and along the Bells Line of Road in the upper Blue Mountains
- Green Wattle Creek fire southwest of the city, devastating Wollondilly Shire villages of Buxton and Bargo, and wiping out small town of Balmoral
- Currowan blaze on the South Coast, north of Batemans Bay, has hit communities near Nerriga
VICTORIA
- Two blazes still burning uncontrolled in Tambo Crossing in East Gippsland and Hotspur, Digby, in the Western District
- Bushfires in East Gippsland burning since Thursday
- Cooler conditions have given firefighters a reprieve
- Smoke from the fires and from NSW expected to make air quality hazardous
SOUTH AUSTRALIA
- Huge fire burning in Adelaide Hills
- One killed (Ron Selth, 69), three more in hospital with burns
- 25,000 hectares burnt within a 127km perimeter
- 72 homes confirmed lost along with 404 other buildings and 227 vehicles over the weekend
- Significant losses to crops, including vineyards, and hundreds of sheep killed
- Most concern centred on difficult terrain around the Kangaroo Creek Reservoir at Castambul
QUEENSLAND
- About 60 fires burning within containment lines across the state
- Severe fire conditions in the Central Highlands and Coalfields and Upper Flinders region in central Queensland
- Cooler conditions, some rain expected around Christmas Eve
- Smoke haze from NSW fires
WESTERN AUSTRALIA
- Lives and homes were threatened by bushfires in Perth's Hills region around Roleystone in the city's southeast and a massive blaze at Yanchep, north of Perth, last week before being downgraded
- Firefighters battled heatwave conditions for much of the six-day fire, saving thousands of properties
- One house and a Yanchep petrol station were destroyed; about 13,000 hectares were burnt
TASMANIA
- Two bushfires north of Launceston were brought under control at the end of November
NORTHERN TERRITORY
- NT last saw major fires in September when there were nine active fire grounds.
