Basalt becoming millionaires’ club

   

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.

The 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.

While the appreciation is welcome news for sellers and most people who already own property, it also pushes the Basalt area out of the realm of affordability for workers.

At a recent public meeting, Garfield County Commissioner Tresi Houpt had this observation: "Aspen has the billionaires, Basalt has the millionaires, and we've got the working stiffs" in Garfield County.

Read the full article in the Vail Daily . . .

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