The short answer: Recent closed sales across Los Angeles show two markets at once. Well priced homes in the $5 million to $10 million range are still going into contract within a few weeks, while homes that started far above the market have closed months or years later, often 20 to 35 percent under their first asking price. The closing price, not the asking price, is what tells you where your neighborhood really stands.
Listings get the headlines. Closings tell the truth. Here is our read of what recent closings across the neighborhoods we work in, as reported by neutral sources, say about pricing, time on market and the gap between asking and selling.
The countywide backdrop
Start with the whole county. According to the California Association of Realtors, the median sold price of an existing single family home in Los Angeles County was $994,670 in September 2026, up 1.2 percent from a year earlier. Sales were down 10.9 percent from September 2025. The median home took 30 days to sell, and the county's unsold inventory index rose to 4.0 months from 3.7 a year earlier.
Statewide, homes sold for 98.8 percent of their original list price in September. Keep that number in mind, because at the top of the market the gap is often much wider.
At the luxury level, The Real Deal's weekly tally of Los Angeles County MLS contracts on homes asking $4 million or more showed fewer signed deals than a year earlier in every October week it reported. In the week reported October 14, 11 of the 24 contracts were homes priced between $4 million and just under $5 million (The Real Deal via Yahoo Finance). Buyers are active, mostly where pricing feels grounded.
Beverly Hills
A Beverly Hills estate of about 5,890 square feet on nearly an acre was listed in June at $25 million and closed in early October at $19.3 million, 23 percent below its asking price, according to The Real Deal. That is roughly four months from list to close.
In the same weeks, a fully redone gated home north of Sunset closed at $15 million, according to Realty Wire. It had last traded in 2024 for $7.325 million. A fully reworked home, priced for today's buyers, can still command a strong number.
803 North Rexford Drive, Beverly Hills, CA 90210
Bel Air
The top Westside sale in the week ending October 25 was a rebuilt modern home in Bel Air on 1.31 acres with ocean and city views, which closed at $21,315,000. It had last sold in 2024 for $10.775 million (Realty Wire). The premium went to a home rebuilt from the studs, not to one asking for yesterday's prices.
Brentwood
Brentwood shows the cost of starting too high more clearly than anywhere else this year:
- A Brentwood Park new build first listed in 2023 at $39.9 million closed in September at $26 million after nearly three years on the market. Its last asking price was $34.5 million (The Real Deal).
- A hilltop home first listed in August 2025 at $38 million, later cut to $34.99 million, sold this summer for $29 million (Realtor.com).
- Brentwood's priciest recorded sale this year, in February, closed at $40 million after first asking $58.5 million (The Real Deal).
By our math, those three closed at roughly 65, 76 and 68 percent of their original asking prices. Each one sold. None sold anywhere near where it started.
Pacific Palisades
The Palisades market is its own story after the January 2025 fire. Many of the closings are land. According to The Real Deal, burned lots there have traded for well over $5 million, including one at more than $7 million in March, one at $6.6 million in February, and one at $5.9 million this summer.
That same report notes that sales in the 90272 ZIP code have been a major source of Measure ULA revenue, and that City of Los Angeles voters will decide this November whether to give fire damaged and destroyed homes there a one time, five year exemption from the tax. If you own in the Palisades, the outcome changes your net proceeds, so watch it closely.
Malibu
In Malibu Park, a remodeled home on 1.78 acres on the ocean side of the road closed at $8.25 million in the week ending October 25 (Realty Wire). Malibu buyers still pay for land, privacy and views when the home is up to date.
5637 Busch Drive, Malibu, CA 90265
Santa Monica, Hollywood Hills and the Valley
The fastest closings in recent reports were in the upper middle of the luxury range:
- Santa Monica, North of Montana: two homes closed at $8,525,000 and $7,950,000. One went into contract 13 days after listing, the other 23 days (Realty Wire).
- Studio City: a gated canyon home closed at $6.4 million after going into contract 22 days after listing (Realty Wire).
- Encino: a renovated single story modern home closed at $5,395,000. It last sold in 2017 for $4.33 million (same source).
- Hollywood Hills: a 1937 estate above the Sunset Strip that first asked $6.99 million in June 2025 closed in October at $3,827,500, after an earlier escrow fell apart and the price was cut to $5.799 million (TMZ, New York Post). That is roughly 55 percent of the first ask, about 16 months later.
What the closings add up to
Put the neighborhoods side by side and three lessons stand out.
- Days on market follow the first price. The homes that went into contract in two to three weeks were priced near the market from day one. The ones that sat for a year or more started far above it.
- The discount grows the longer you wait. Statewide, sellers got 98.8 percent of their original ask in September. Several of the luxury closings above landed between about 55 and 77 percent of theirs.
- Condition and uniqueness still earn a premium. The rebuilt Bel Air home and the redone Beverly Hills home both closed far above their previous sale prices.
If you are selling, start with what truly comparable homes have recently sold for, not what nearby homes are asking. Factor in transfer taxes and selling costs, and read our guide on how long it takes to sell a luxury home in Los Angeles. If you are buying, the gap between asking and closing is your negotiating room, but only on homes that have already sat.
Frequently asked questions
Are luxury homes in Los Angeles selling below asking price? Many are, especially homes that started high. Statewide, homes sold for 98.8 percent of original list price in September 2026, per C.A.R., but several recent LA luxury closings landed between about 55 and 77 percent of their first ask.
How long are luxury homes taking to sell in Los Angeles? It depends on the first price. The median LA County home took 30 days to sell in September, per C.A.R. Recent well priced luxury homes in Santa Monica and Studio City went into contract in 13 to 23 days, while overpriced ones took a year or more.
What is the difference between asking price and sale price? The asking price is the seller's opening number. The sale price is what a buyer actually paid at closing. For pricing your own home, closed sales of truly comparable homes are the reliable guide.
Why are some LA homes selling for far more than their last sale? In the recent examples, the homes had been fully renovated or rebuilt. A Bel Air home that last sold in 2024 for $10.775 million closed this October at $21,315,000 after being rebuilt.
Does Measure ULA affect luxury sale prices in the Palisades? It affects what sellers keep. Measure ULA adds a transfer tax on City of Los Angeles sales above about $5.4 million, and voters are deciding this November on a five year exemption for homes damaged or destroyed in the Palisades fire.
Want to know what your home would actually close at?
I can pull the recent closings that truly compare to your home and walk you through what they mean for your price, your timing and what you keep after costs. Whether you are buying, selling, or looking for a home to rent for 30 days or longer, request a private consultation.
Call Jordan Pollack at 323.238.5225, email [email protected], or visit laluxuries.com. LA Luxuries Estate Agency, 333 S. Beverly Dr Suite 104, Beverly Hills 90212.
Jordan Pollack, Founder / Sales Agent, LA Luxuries Estate Agency, DRE 02010832
This article is general information based on publicly reported sales, not an appraisal, tax or legal advice. Figures are as reported by the sources linked and may be revised.
