Buyer’s market in Basalt
October 13, 2009
The Aspen Daily News front page story of Oct. 8, headlined “PitCo Real Estate Sales Down 65 percent in August,” does not tell an accurate story. Price and value are not the same thing.
For instance, the article says: “The average home price in Basalt is actually up 5 percent.” With that said, it is important to note that there was a record price breaking sale at the Roaring Fork Club for $5,795,000. Also there were four sales of homes year to date priced between $1,200,000 and $1,800,000. Each of those, however, had been reduced in price from the previous year’s list to eventual selling price by 30.2 percent. Draw you own conclusion, but what I see is that the dollar is currently buying on average, about 30 percent more now in Basalt then it was a year ago.