Now that we’ve crossed the halfway point of the year and with the July 2 closing of Casa Encantada, we have enough data to see a clear pattern.
The question isn’t whether deals are happening. They are at extraordinary price points. The question is what it actually takes to get them closed.
Through the first week of July, these are the 10 largest residential sales of 2026.
• 10644 Bellagio Rd, Bel Air — $130M (July 2)
• 1111 Calle Vista Dr, Beverly Hills — $47M (off market)
• 410 Trousdale Pl, Beverly Hills — $46.95M
• 1005 Benedict Canyon Dr, Beverly Hills — $41.25M (off market)
• 12833 Chalon Rd, Los Angeles — $40M
• 27910 Pacific Coast Highway, Malibu — $35M
• 1005 N Alpine Dr, Beverly Hills — $31.75M
• 24824 Pacific Coast Hwy, Malibu — $31.25M
• 684 Firth Ave, Los Angeles — $31M
• 804 Elm Street, Los Angeles — $30.26M
Only two of the ten ultimately closed off the market, without a public listing record. The other eight were marketed publicly through the MLS, and most required significant time and price adjustments before finding the right buyer.
The best example is 10644 Bellagio Rd in Bel Air, better known as Casa Encantada. It closed for $130 million on July 2, becoming the largest residential sale of the year. Originally listed in 2019 for $225 million, the estate was repriced multiple times over nearly seven years before selling for $130 million. That’s a $95 million reduction, or roughly 42% below its original asking price.
The pattern wasn’t unique.
410 Trousdale Place was marketed privately before ever coming to the MLS, then spent roughly two years on the market across multiple listing periods before ultimately selling after significant price adjustments.
1005 N Alpine Dr spent years on the market across multiple listing periods before selling after substantial price reductions.
12833 Chalon Rd found its buyer more quickly, but still required more than five months on the market and ultimately closed well below its original asking price.
Different properties. Different timelines. Same conclusion: ultra-luxury properties are absolutely still trading. Capital is available. Buyers are still writing eight- and nine-figure checks. What’s changed is the path to a successful sale. Today’s buyers are rewarding sellers who understand the market, not chasing aspirational pricing. Even the world’s most exceptional homes must earn their buyer.
The past two weeks offered another real-time example. Bellagio’s $130 million closing helped push luxury sales volume to nearly $705 million over two weeks, with 73 transactions completed. During that same period, 710 N Camden Dr sold at full asking price in just 29 days, and the penthouse at 9255 Doheny Rd, in the iconic Sierra Towers, closed at $36 million in just 2.5 months—a fast timeline for this caliber of trophy penthouse. Same market. Similar price points. Two very different properties. Both moved efficiently because they were priced for today’s market.
The takeaway heading into the second half of the year is clear: today’s luxury market rewards realistic pricing. Pricing strategy, positioning, and negotiation matter more than ever because even the world’s most desirable homes must earn their buyer.
If you’re thinking about selling and want a pricing strategy grounded in today’s market rather than yesterday’s expectations, I’d be happy to have that conversation.
