Bar/X Ranch sells for $48.5 million

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February 25, 2006
Ranch near Aspen sets new sales price record
June 17, 2006

Bar/X Ranch sells for $48.5 million

The Bar/X Ranch on the outskirts of Aspen has changed hands for $48.5 million – a record sum for open land in a resort known for staggering real estate prices. “I’m not sure if that’s a dubious distinction or a sign of our belief in the market,” said developer Greg Hills, spokesman for buyer Two Stage Road LLC, which won a bidding war for the coveted property. The ranch already has approvals for 13 single-family homes within the Aspen city limits. The confidence in the market was apparently justified; the lots were all reserved within two weeks once word that they were available began circulating in March.

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