Hosting the 1932 and 1980 Winter Games put tiny Lake Placid, N.Y., on the map, says Roby Politi, a former mayor who runs local realty firm Merrill L. Thomas. After all, the town went down in Olympic history as the site of 1980's "Miracle on Ice," when the U.S. hockey team famously beat the heavily favored Soviets in the middle of the Cold War. "Lake Placid is probably the one place people associate the most with the Olympics," Politi says. "Los Angeles also hosted two Olympic Games, but does anyone remember that?" The broker says Lake Placid has maintained most of the 1980 facilities, and keeps the Olympic momentum going by regularly hosting world-class summer and winter sporting events. The U.S. Olympic Committee also has its main Eastern U.S. training facility in 2,500-population Lake Placid, which is some 290 miles north of New York City in the Adirondack Mountains. All of that has helped the community's real estate sector, which consists primarily of vacation homes. Median list prices rose 7% in town over the past year to reach $464,450, according to Realtor.com.