“At the high end, we are consistently seeing sellers price at aspirational levels. We are watching these properties go through multiple price adjustments, and often multiple agents, before finding the right buyer. Many have been trying to sell for years before ultimately coming to terms with where the market really is.”
That observation is echoed in the latest national data. The median U.S. asking price just posted its steepest annual decline on record, down 2.5% year over year to $430,000, as sellers increasingly adjust to today’s market realities.
While Los Angeles luxury real estate plays by its own rules, one principle remains universal: Pricing correctly from day one is more important than ever. The properties generating the strongest interest are the ones entering the market aligned with today’s buyers, not yesterday’s expectations.
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