Aspen: Prices Going Down?

Caught your attention, didn't I? Actually, in my week-long visit to Aspen that just ended, I saw only one real estate listing with "price reduced" in it. That was for a "cozy" 2-BR Twin River condo in nearby Basalt (above), 20 minutes downvalley, of just 893 square feet, for $595,000. According to real estate literature, Basalt is a bargain -- a mere $502 per square foot compared with $1,100 for Snowmass Village and $1,500 for Aspen itself.