The Los Angeles luxury market closed the second week of June with 34 sales above $4M, 33 single family homes and 1 condo, totaling $222.9M in combined closed volume. The prior week closed at $183.2M, so volume keeps building. Three weeks of gains in a row. But step back twelve months and the picture changes. The same week last year produced 42 sales for $329.3M, down 32% on volume. The market is moving, just not at last year’s pace.
Leading the week: 1017 N Roxbury Drive in Beverly Hills. Asking $24,995,000. Closed at $22,500,000 in 16 days, the top sale of the week. The address matters as much as the number. The 1929 villa sits on a flat 29,000 square foot lot on North Roxbury between Sunset and Benedict Canyon, one of the most storied stretches in the Beverly Hills Flats, a street that was home to Lucille Ball, Jimmy Stewart, Jack Benny, and Peter Falk.
That speed was the exception, not the rule. Not a single home sold over asking last week. One closed right at list price; every other one closed below. The average home sold for 93.7% of ask. The leverage right now sits with buyers. They have choices, they have time, and they know it.
And the longer a home sat, the more it cost the seller. The week’s three slowest sales all ran past 100 days, and all closed below ask: 531 S Rossmore in Hancock Park (105 days, about 20% under its original $8.995M), 1130 Maytor Place in Trousdale (127 days, $12M against a $14.5M start), and 1146 Shenandoah in San Marino (149 days, the slowest of the week).
Meanwhile the homes that were priced to the market moved. 2520 La Condesa in Brentwood, a 2019 modern farmhouse, closed in 15 days. 592 30th Street in Manhattan Beach went in 16. The pattern repeats every single week.
The strength was in the middle of the luxury market, not the top. 24 of the 34 sales closed below the $7M mark. That’s where the real transaction volume lives right now. The ultra-luxury tier above $10M was only 4 deals. So the market that’s actually moving is the move-up family buyer, not the trophy buyer, even though the trophy sales grab the headlines.
This reinforces the point I make almost every week. In a market running lighter than last year, the asking price is not the opening line of a negotiation. It is the single most consequential decision a seller makes. Price it right and the market rewards you in days. Price it wrong and it takes months, and you pay for every one of them. Aspirational pricing doesn’t preserve upside. It forfeits it.
If you are watching the California luxury market, whether buying, selling, or simply tracking where it is heading, I am happy to be a resource.
Eklund|Gomes Closed Sales Report | June 8–14, 2026
Marcy Roth | California Managing Director, Eklund|Gomes Team at Douglas Elliman
