High-End Homes That Won't Sell

West Palm Beach — 200 Murray Road
Original price: $3.4 million
Current listing: $1.9 million

It's not often that a brand-new house stays on the market for two years. This $3.4 million home has depreciated a whopping 44%, down to $1.9 million, over that time period. Real estate agent Steve Davis says that with an increase in short sales, dream homes like this one just won't sell, even with four bedrooms and 6½ baths. The home also has a pool, two fireplaces, a media room and an additional room on the living level that could be converted into a fifth bedroom. (Don't forget the summer kitchen, in addition to the regular huge kitchen.) "They're bargains," Davis says. "They're just great opportunities for buyers right now."

Read "Home Sales Perk Up, but Expensive Houses Languish."

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