Pricing is the Strategy. This Week Proved It

Thirty-one transactions closed across Greater Los Angeles in the $4M and above market last week, generating $243.8M in total volume. That’s down from the prior week’s 40 deals and $305.8M. But the headline number undersells what actually happened.

Two deals this week said a lot about where this market stands. We had some significant closings, and the contrast between them tells you more about how this market actually functions.

684 Firth Ave first came to market in February 2024, asking $68M. It closed last week at $31M, more than 50% off the original ask, after 2+ years on the market. Two years and a $37M reduction later, it found its number.

703 N Arden Dr was the other side of that coin. Listed at $25M, under contract and closed in 20 days, closing at $24M. Sellers who priced correctly and moved decisively got exactly that in return.

Same market. Completely different outcomes. Preparation and pricing aren’t just a strategy. They’re the whole game at this level.

Stepping back, May closed with 142 total transactions and just over $1B in volume. Year over year, May 2026 vs May 2025, transaction count was virtually identical, 142 vs 145. Volume looks down about 15%, but May 2025 included a $110M sale at 630 Nimes Rd. Strip that single outlier, and the gap shrinks to roughly 7% on essentially the same number of deals. The market isn’t in retreat. It’s just operating without a nine-figure anomaly on the books.

Average sale price: $7.96M. Average DOM: 48 days. Average SP/LP: 95.2%.

The averages tell you the market is functioning. The outliers tell you exactly how much pricing strategy matters. Firth Ave is the case study. Had it been launched two years ago at a number closer to market reality, it likely would have traded higher than $31M. Overpricing doesn’t just delay the sale. It can cost you the premium you were trying to attain in the first place.

Eklund | Gomes Closed Sales Report | May 25–31, 2026

Marcy Roth | California Managing Director, Eklund | Gomes Team at Douglas Elliman