In August 2026, a 19,020-square-foot home at 4030 E. Forbes Court in the Preserve at Greenwood Village sold for $7.4 million, the priciest residential sale anywhere in the Denver area that month, according to BusinessDen. Two months earlier, in June 2026, the city's median list price sat at $1.48 million, down roughly 7 percent from a year before. Both numbers are true. Neither one describes the same market.
If you're comparing Greenwood Village against Cherry Hills Village or Lone Tree from a spreadsheet of medians, this is the trap worth knowing about before you fall into it. A single number is being asked to describe three or four different housing products that happen to share a city limit. Knowing which one you're actually looking at, and what's about to change in one of those tiers, matters more than the headline figure ever will.
One City, Three Very Different Markets
Greenwood Village's housing stock splits cleanly by product type and location, and each segment behaves on its own schedule.
| Segment | Typical Price Range | What Sets It Apart |
|---|---|---|
| Attached condos and townhomes near the DTC core | $450,000 – $750,000 | Buildings like Landmark Towers, walkable to the office corridor, minimal yard to maintain |
| Entry-level single-family near E-470 | $800,000 – $950,000 | Smaller footprints, often original finishes or a partial update |
| Custom estates in the Preserve and along the Willow Springs corridor | $2,000,000 – $4,000,000+ | Half-acre-plus lots, gated streets, newer construction |
| The Village at Landmark (arriving 2027) | $1,700,000 – $3,000,000 | New construction with private elevators and rooftop decks, on a gated site |
A portal median is just an average pulled across those rows. When the entry-level tier closes a dozen sales in a month and the estate tier closes two, the median swings on volume, not on what any single slice of the market is actually doing. That's how a city can post a falling median and a record sale in the same season without contradicting itself.
The Splinter Inside the Luxury Tier
The softening isn't happening at the very top. It's happening in the middle of what gets loosely labeled "luxury," roughly the $1.5 million to $3 million band that sits between entry-level single-family and the true Preserve estates. Market trackers following Greenwood Village show roughly six in ten active listings had taken at least one price cut heading into mid-2026, a sign that sellers in that band were adjusting expectations rather than holding firm.
Meanwhile the estate tier kept closing. The Forbes Court sale in August wasn't an isolated data point. Homes in Cherry Hills Village, Evergreen, and Golden also cracked the top five priciest sales in the Denver area that same month. The split isn't luxury versus everything else. It's inside luxury itself, between an upper-middle band that's cooling and a top tier that isn't.
Why Ninety Houses on Berry Avenue Matter
That upper-middle band is about to get more crowded, and the reason is a construction site most of the corridor has been driving past for years without much to look at.
On June 4, 2026, Century Communities broke ground on The Village at Landmark, a gated community of 90 detached single-family homes on a 13.1-acre parcel directly south of The Landmark entertainment district. The site had sat vacant since before the 2008 downturn, once planned as a European-style village that never materialized while redevelopment proposals for the broader area stalled between pressure for denser transit-oriented housing and resident concerns about traffic. Greenwood Village's City Council approved the final site plan in November 2025, clearing the way for construction to begin on a project designed by Godden Sudik Architects for Century Communities, which is headquartered in Greenwood Village.
The homes will range from roughly 3,280 to 4,500 square feet, priced between $1.7 million and $3 million, with private elevators, rooftop living spaces, three-bay garages, and basements. Sales are expected to begin in spring 2027.
"Opportunities like this simply don't come along often in Greenwood Village."
That's Todd Baker, Century's regional president, at the groundbreaking. He's not overselling it. Most of the vacant land near the Denver Tech Center right now is heading toward apartments, not single-family homes. Trammell Crow has proposed roughly 660 apartments where an office tower once stood at 7601 E. Technology Way, and Shea Properties converted a vacant office building at 4340 S. Monaco Street into 143 income-restricted apartments. Century's project is the outlier, the only significant new for-sale single-family community breaking ground in the corridor in years, and it's landing squarely in the price band that's currently showing the most softness.
What Cherry Hills Village Tells You About Scarcity
It's worth pausing on why this kind of project can happen in Greenwood Village at all, because it can't happen next door.
Cherry Hills Village's residential zoning generally requires 2.5-acre minimum lots, a rule the city has defended publicly as central to its character. That makes new subdivisions like the Village at Landmark essentially impossible there. Cherry Hills' scarcity is structural and permanent by design. Greenwood Village's scarcity, by contrast, just cracked open on one infill parcel that happened to sit empty long enough for the right buyer and the right zoning conversation to line up.
That difference shows up in the closed sales. In March 2026, a home at 1515 E Tufts Ave in Cherry Hills Village closed at $4.999 million, and a home at 11 Cherry Hills Dr closed at $9.75 million, both within a day of each other. Nothing about Greenwood Village's mid-tier softening touched that market, because Cherry Hills isn't absorbing new supply the way Greenwood Village is about to.
What This Means If You're Comparing Neighborhoods Right Now
If you're bidding on existing $1.5 million to $3 million inventory in Greenwood Village today, the price cuts and stretched days on market are your leverage. Sellers in that band are competing against each other in a market that's shown real hesitation over the past several months.
If you can wait, spring 2027 changes the comparison set. Ninety new homes with private elevators and rooftop decks will enter exactly that price band, and most existing 1990s and 2000s stock in the same range doesn't have those features. Buyers shopping that tier after those sales open will have a very different sense of what "normal" looks like at $2 million in Greenwood Village.
If you're selling in that band, the window between now and when those 90 homes hit the market is the moment to price against today's comparables rather than tomorrow's. Once new construction with those amenities starts closing, older inventory in the same range will need to work harder to justify its price.
And if privacy, acreage, and a scarcity premium that isn't going anywhere are the priority, that's a Cherry Hills Village conversation, not a Greenwood Village one. The two markets are neighbors, but they're not solving the same problem for a buyer.
A Few Questions Worth Asking
Why did the Village at Landmark site sit empty for so long? The 13.1-acre parcel was originally planned as a European-style village that never got built, and redevelopment proposals for the broader area stalled for years amid disagreements over density and traffic. Greenwood Village's City Council approved the current site plan in November 2025, and Century Communities broke ground the following June.
When will the new homes actually be available to buy? Century Communities expects sales to begin in spring 2027, with model home construction starting later in 2026. Anyone planning around this timeline should treat spring 2027 as the earliest realistic entry point, not a firm date.
Does Cherry Hills Village have anything similar coming? Not under its current zoning. The 2.5-acre minimum lot requirement that defines Cherry Hills Village makes a project of this density unlikely there, which is part of why its top-tier scarcity behaves differently from Greenwood Village's.
If you're weighing Greenwood Village against Cherry Hills Village, Lone Tree, or another south-metro market and want to know what your specific price range actually buys in each one, that's the kind of comparison our team builds every week. Reach out to the Billy Van Heusen Team and Get Your Free Home Valuation to see where your situation fits into this market, not just where the median says it does.
