Why Greenwood Village's Median Price Doesn't Tell You When to List or Buy

For most of the last two decades, the 13 acres just south of The Landmark sat empty. The site backed up against Landmark's condo towers, had freeway access most developers would kill for, and went nowhere. A high-density residential plan drawn up before the 2008 crash stalled. What followed was years of legal dispute over the parcel, the kind of tangle that keeps land off the market long after the economics around it recover. Greenwood Village's own mayor, George Lantz, later described it in his newsletter as a property tied up in legal dispute that had finally cleared for new construction.

That construction started on June 4, 2026, when Century Communities broke ground on The Village at Landmark, a gated enclave of 90 detached single-family homes. If you've been watching Greenwood Village's home prices this year and noticed the median looking softer than expected, this project is the reason you should read the numbers differently than the portals present them.

The Median Says Cooling. The Sold Prices Say Something Else.

As of June 2026, the median list price for a Greenwood Village home sat at roughly $1.48 million, down about seven percent from a year earlier. On its own, that number reads like a market handing buyers leverage across the board.

But list price and sold price are not the same measurement, and in Greenwood Village right now they are pointing in different directions. Looking at the trailing 30-day window of closed sales, the median sold price runs closer to $1.75 million, up about 2.5 percent from a year earlier. Homes that actually change hands are still selling for more than they did last year. What's dragging the list-price median down is something else: 60 percent of active listings have taken a price cut, a jump of more than 17 percentage points from a year ago, and none of the homes that sold in that window went above asking.

Put those together and a different story appears. Sellers are asking for more than the market will bear at a higher rate than they used to, then correcting down. The homes priced right the first time are still closing at strong numbers and moving in a median of 54 days. The homes priced wrong are the ones dragging the visible median lower and sitting longer. A citywide median blends both groups into one number, which is exactly why it misleads anyone trying to time a listing or an offer around it.

The question that actually matters for a seller or a buyer isn't "is the median up or down." It's "which of those two groups am I about to be in." And that's where The Village at Landmark changes the calculation.

What's Actually Being Built Off Berry Avenue

The development includes two home collections across five floor plans, ranging from about 3,280 to 4,500 square feet. Every home comes with a basement, a three-bay garage, a private elevator, and rooftop living space. Century Communities and architecture firm Godden Sudik designed the community around a central gathering space with fire pits and water features, all inside a gate.

Location is the other half of the pitch. The site sits within walking distance of Landmark Theatres, Comedy Works, JING, and Upstairs Circus, along with Club Greenwood and the regional trail network that runs through the area. Pricing is expected to run from $1.7 million to $3 million, with model homes under construction later this year and sales opening in spring 2027.

That price band is not incidental. It sits directly inside the segment where Greenwood Village's current softness is concentrated.

Why This Kind of Project Almost Never Happens Here

Century's own regional president, Todd Baker, put it plainly at the groundbreaking: opportunities like this simply don't come along often in Greenwood Village. That's not marketing language so much as a description of the city's supply constraints. Reporting on the project noted that building in Greenwood Village is difficult because of how little developable land remains and how strict the zoning rules are, which is part of why a 90-home, ground-up single-family community is being treated as a genuinely rare event rather than routine new supply.

For a city defined by wide lots, established tree canopy, and land that mostly got built out decades ago, a 13-acre parcel becoming available at all was unusual. The fact that it sat tangled in legal dispute for years, on prime freeway-adjacent ground, is a decent proxy for how tightly held and how rarely this city's inventory turns over.

What This Means If You're Selling or Buying in the Next Year

The Village at Landmark won't open for sales until spring 2027. That gives current owners and buyers a window, but it's not an open-ended one.

1. If you own in the $1.1 million to $1.6 million range, the classic Greenwood Village single-family core, you're the segment most directly exposed to new competition once these 90 homes come to market. A buyer with $1.8 million to spend in spring 2027 will, for the first time in years, be genuinely choosing between a resale home and a brand-new one with a warranty, a private elevator, and rooftop space already built in. If you're weighing a 2026 listing against waiting another year, the arithmetic favors listing before that choice exists for buyers.

2. If you're a buyer with $1.7 million to $3 million to spend, you now have two paths that didn't both exist a year ago: negotiate hard on a resale home in a market where 60 percent of listings are already cutting price, or wait for new construction with fixed finishes and a fixed price sheet. Neither is automatically better. What matters is knowing which path you're actually on before you write an offer, since the negotiating posture is different for each.

3. If you're shopping under $1.2 million, this project changes very little for you directly. It doesn't touch that segment's inventory or pricing, and the current tightness in that band isn't something 90 homes priced at $1.7 million and up will loosen.

4. If you're selling above $3 million, the estate tier sits above where The Village at Landmark competes. Your pricing conversation should still account for the 54-day median time on market and the elevated price-cut rate showing up across the city, but the new construction pipeline isn't your direct competitor.

None of this replaces a real comparable-sales pull for your specific block and floor plan. It does mean that treating Greenwood Village as a single, uniformly softening market is the fastest way to misprice a listing or misjudge an offer over the next several quarters.

FAQ

Will The Village at Landmark hurt resale values across all of Greenwood Village? The homes compete most directly in the $1.7 million to $3 million range. Ninety homes absorbed over multiple sales seasons starting in spring 2027 is meaningful competition inside that specific band, not a citywide inventory shock. Segments well below or well above that range aren't the same market these homes are entering.

How does this compare to what's happening in Cherry Hills Village? Cherry Hills Village generally sits at a premium to comparable Greenwood Village homes, driven in part by larger minimum lot sizes in many of its zoning districts. If you're weighing the two cities against each other, that's a separate comparison worth working through with current data for each market rather than assuming the same forces apply equally.

When should I actually list if I'm in the affected price band? Model homes at The Village at Landmark are expected to start construction later in 2026, with sales opening in spring 2027. That gives sellers roughly two to three quarters before new-construction inventory becomes a direct alternative for buyers shopping in the same range.

If you're trying to figure out which side of this market you're actually on, whether that's pricing a listing correctly the first time or deciding how much leverage you really have on an offer, that's exactly the kind of read a current comparable-sales pull settles. You can start with a Greenwood Village home valuation or look at how pricing strategy plays out in this market in more detail on the blog covering how to price a Greenwood Village home strategically. If you're weighing Greenwood Village against a neighboring suburb, the Greenwood Village versus Highlands Ranch breakdown is a good next stop.

When you're ready to talk through timing for your specific address and price band, Makin' Moves with Georgia is here to help. Book a consultation and let's figure out which market you're actually in.