The short answer: A few Beverly Hills trophy homes are coming back to market below what they last sold for or first asked. That signals pricing discipline, not a crash. Weekly contract counts at $4 million and up are running below last year, buyers are negotiating harder, and the Measure ULA transfer tax line is shaping where high end deals land.
If you scrolled real estate X in October, you probably saw the posts. A former celebrity estate in Beverly Hills that sold late last year is back on the market. A Trousdale Estates spec home that has been shopped since 2017 is back too, at a much lower number. People were quick to call it a sign. A sign of what, exactly? That is the question worth slowing down on.
What actually happened in October
Two relists drew much of the luxury conversation on X in the week of October 18 to 25, 2026.
The first is an estate on more than two acres in Beverly Hills that sold in December 2025 after first hitting the market at more than double that sale price. In September 2026 it was listed again at roughly 14 percent below what the buyer paid less than a year earlier (sale reported by The Real Deal, Dec 31, 2025; current asking price per the MLS).
1309 Davies Drive, Beverly Hills, CA 90210
The second is a newer spec home in Trousdale Estates that first came to market in 2017 and has never sold. It returned on October 19 at about 37 percent below that original ask (original price reported by The Real Deal, June 2017; current asking price per the MLS).
2002 Loma Vista Drive, Beverly Hills, CA 90210
These are other brokerages' listings, and we have no inside view of either seller's reasons. What we can do is read them alongside the wider numbers.
The wider numbers behind the headlines
A weekly tally of Los Angeles luxury contracts reported by The Real Deal counted 24 contracts at $4 million and up in the week reported October 14, down from 29 a year earlier. Asking volume on those deals fell 34 percent to about $168 million, and homes between $4 million and $5 million made up nearly half of the activity (The Real Deal, Oct 14). The week before was softer still, with 13 contracts, less than half as many as a year earlier (The Real Deal, Oct 7).
At the very top, the nine figure club is shrinking. A Hollywood Hills spec home was cut below $100 million, leaving only two listings in LA County asking more than that, both in Bel Air (The Real Deal via Yahoo Finance, Oct 14).
So the pattern is simple. Buyers at the high end are still buying, but they are taking their time, and they are paying for what a home is worth today rather than what someone hoped it was worth a year or a decade ago.
Why the city line matters more than ever
Here is the part that gets missed in most of the social posts. Since Measure ULA took effect, the City of Los Angeles charges an extra transfer tax on higher priced sales. For sales closing after June 30, 2026, it is 4 percent on sales above $5.4 million and 5.5 percent on sales of $10.9 million or more, applied to the full sale price (LA Office of Finance). On a hypothetical $10 million sale inside the city, that works out to about $400,000 in ULA alone. Our guide to the cost to sell a luxury home in Los Angeles walks through the full math.
Beverly Hills is its own city, so ULA does not apply there, and the same goes for Malibu. One catch: some homes with a Beverly Hills mailing address, mostly in the hills north of the city, sit inside the City of LA and do pay ULA, so always check the city line, not the zip code. Santa Monica is different again: under its Measure GS, the city transfer tax is 5.6 percent on sales of $8 million or more (City of Santa Monica). In our read, this is one reason high end demand has leaned toward areas outside the City of LA line. Researchers at the UCLA Lewis Center have also studied how the tax changed behavior around the thresholds.
There is also a vote this week. On Tuesday, November 3, City of Los Angeles voters decide Prop TE. It would exempt or refund ULA for residential properties damaged or destroyed in the Palisades Fire when sold by the owner of record as of January 7, 2025, through January 6, 2030 (LAist voter guide). If you own in the Palisades and have been weighing whether to sell or rebuild, that outcome is worth watching closely.
More listings, but not more of the right homes
From what we see on the West Side, there are more listings than a year ago. Yet the homes buyers really want, with quality construction, a floor plan that works and a real lot, are still scarce, and many of them trade quietly off market. That helps explain why one home can sit for years while a better fit down the hill sells in a weekend.
What a relist below the last price tells a buyer
A lower number is an opening, not a verdict. A few honest questions help:
- Why did it come back? A life change, a carrying cost question, or a price that never matched the market all lead to very different negotiations.
- What did truly comparable homes close at, not list at? Recent sales usually tell a clearer story than asking prices.
- Is the home inside or outside the City of LA line, and how does that change your total cost and your future resale?
- Would you be comfortable owning it if the market stays flat for a few years?
What it tells a seller
If similar homes are relisting lower, the market is telling you something about pricing, and it is better to hear it before you list than after months of showings. The sellers getting deals done right now tend to price from closed sales, present the home at its best, and think through the after tax number before they set the ask. Where your home sits relative to the ULA line can change that math by hundreds of thousands of dollars. You can browse what is actively on the market to see how buyers will compare your home.
Frequently asked questions
Why are some Beverly Hills mansions relisting for less than they sold for? Usually because the earlier price reflected a different moment. With fewer contracts at $4 million and up than a year ago and buyers negotiating harder, sellers who need or want to move are pricing closer to what buyers will actually pay today.
Does Beverly Hills charge the LA mansion tax? No. Measure ULA applies only to sales inside the City of Los Angeles. Beverly Hills is a separate city, so ULA does not apply to sales there. Normal county transfer taxes still apply.
How much is Measure ULA on a $10 million home in Los Angeles? About $400,000. A sale above $5.4 million and below $10.9 million inside the City of LA pays 4 percent on the full price. At $10.9 million or more the rate is 5.5 percent. The city's base transfer tax and the county transfer tax are charged on top.
What is Prop TE on the November 3, 2026 ballot? It would exempt or refund the ULA tax for residential properties damaged or destroyed in the Palisades Fire, when sold by the owner of record as of January 7, 2025, through January 6, 2030.
Is now a good time to buy a luxury home in Beverly Hills? It depends on your timeline and goals. Buyers have more room to negotiate than a year ago, but the best homes are still scarce. Looking at closed sales, not asking prices, is the best way to judge any single home.
How should I price my luxury home if similar homes are relisting lower? Start from recent closed sales of truly comparable homes, factor in whether your home is subject to ULA, and set an ask that invites serious buyers rather than testing the market for months.
Curious what your home would sell for today?
Would it help to see what homes like yours actually closed at, and what you would keep after transfer taxes? Whether you are buying, selling, or looking for a home to rent for 30 days or longer, I am happy to walk through it with you.
Call Jordan Pollack at 323.238.5225, email [email protected], or visit my agent page.
Jordan Pollack, Founder / Sales Agent, LA Luxuries Estate Agency, DRE 02010832
This article is general information, not tax or legal advice. Confirm transfer tax amounts with your escrow or tax advisor.
