The Most Interesting Closing This Week Wasn’t in Malibu or Beverly Hills. It Was in Pasadena

The Los Angeles luxury market closed out the first week of June with 25 sales above $4M , 24 single family residences and 1 condo home totaling $183,186,479 in combined closed volume. Last week closed at $243.8M. Volume moves in waves. A single mega-close can swing the number $30M in either direction. The pipeline tells the real story.

The headliner: 1230 S Oakland Ave in Pasadena. Asking $12M. Closed at $10,700,000. But the number is almost beside the point. This property is known as Knollcrest, the Charles A. Goodyear estate, designed in 1913 by G. Lawrence Stimson (the architect behind the Wrigley Mansion) on 2.5 acres in the original Oak Knoll subdivision of Pasadena. The 4th Pasadena Showcase House and a backdrop for numerous motion pictures. Stewarded by lumber barons, U.S. Steel presidents, and philanthropists. It was on the market for the first time in 60 years. There are properties. And then there are estates that carry a city’s memory.

The week’s other stories worth telling:

28823 Cliffside Dr, Malibu. Listed at $34.5M. Closed at $28,500,000. Oceanfront, 7 beds, 7,269 sq ft. Blufftop Malibu at scale.

10428 Wyton Dr, Little Holmby. Closed over asking at $7,102,500 ($6,995,000 list price). Little Holmby is that quiet and very desirable pocket between Holmby Hills and Westwood.

Three additional homes closed above their list price this week, including 20 Latimer Rd in Santa Monica ($375,000 over list) and 703 25th St, also Santa Monica, closing $280,000 above list. This reinforces the point I often make that pricing a property correctly is of utmost importance.

155 N Anita Ave, Los Angeles. This one took patience; originally listed at $14,950,000 back in 2024. Closed escrow this week at $8,872,260. Another example of mispricing a house vs the market momentum.

2008 Hercules Dr, Los Angeles. Jeremy Piven’s former home. He paid $6,800,000 in 2017, listed it at $9,499,000 at the start of 2025, and after a long run on market, closed escrow at $6,850,000 this week. By the time closing costs are factored in, this one is a loss.

Average sale price: $7,434,853. Average $/SF: $1,269. Average DOM: 53 days.

Entry ($4–5M): 6 deals.

Mid ($5–7M): 8 deals.

Upper ($7–10M): 7 deals.

Ultra ($10M+): 3 deals.

Eklund | Gomes Closed Sales Report | June 1–7, 2026 Marcy Roth | California Managing Director, Eklund | Gomes Team at Douglas Elliman