Saturday, June 10, 2006

Base Metal, Platinum Real Estate

Once upon a time, Basalt was a forgotten stepsister of glitzy Aspen in Colorado's Roaring Fork Valley. Now, Basalt is truly the new Aspen.

"The red-hot real estate market has sent the median price of single family homes for sale in and around Basalt above the $1 million barrier, according to an article about an analysis done by broker Wendy Lucas in The Aspen Times.

The stats: median price of the 27 single-family homes that sold in and around Basalt through mid-May was $695,000. The median price of 19 homes currently under contract in that same area is $899,000. The median asking price for the 19 homes currently listed for sale is $1,195,000."

Basalt is about a half hour's drive from Aspen.

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