Astronomical prices for Los Angeles’ most coveted homes may be returning to orbit this year.

A $40 million price cut just hit one of LA’s — and California’s — most expensive homes for sale, underscoring big shifts underway in the city’s high-end market.

The Bel-Air mansion known as “La Fin” now asks $99.95 million, down from a sky-high $139 million. The 12-bedroom home at 1200 Bel Air Road has struggled to find a buyer since 2022.

Trophy homes like “La Fin” are retreating back from aspirational price tags. One Shot Productions

A $40 million discount brought the luxury home below the $100 million mark. One Shot Productions

Potential buyers of the nightclub-like mansion have to weigh an increasingly long list of uncertainties, like rising insurance premiums, the threat of future wildfires and the specter of a proposed federal billionaires tax.

“Going just under $100 million both opens it up to a larger buyer pool, and makes it just more attractive,” said Compass’ Sally Forster Jones, one of several listing agents for the property.

Forster Jones said LA’s buyer pool for nine-figure homes remains “rarefied air,” and quite small.

The opulent mansion’s ultra-wealthy buyer pool remains small — and increasingly selective. One Shot Productions for Sothebyâs International Realt

The 2-acre estate overlooks Los Angeles. One Shot Productions

“At this level, pricing isn’t about compromise, it’s about precision,” co-listing agent Tomer Fridman of Christie’s International Real Estate Southern California told The California Post. “This move meets the market where serious buyers are actually engaging right now.”

Other agents include Sotheby’s Nicole Plaxen and Shauna Walters, as well as Douglas Elliman’s Jacob Greene and Josh Altman.

It appears California’s fortunate few are less willing to pay so-called aspirational prices. Stratospheric, wait-and-see price tags may have found success a few years ago, but agent Rochelle Atlas Maize, of Nourmand and Associates’ luxury estates division, said that trend is well on its way out.

“If it’s a $100 or $125 million property, they were putting it on at $175 million hoping that that one guy, that crypto guy, or that tech guy or that somebody that hit the lottery, they’re going to get it,” Atlas Maize told The Post. “The psychology of the ultra-high-end has changed. You’re not doing aspirational pricing.”

Sculptural chandeliers decorate the home. One Shot Productions

A moody sitting room and bar. One Shot Productions

La Fin is a car collector’s dream, with an automated six-car elevator display. One Shot Productions

Market data from Miller Samuel and Douglas Elliman found that LA’s luxury market — the top 10% of sales — saw the median price drop to $12 million in the third quarter of 2025. The figure marked a roughly 11% decline from a year earlier.

Transaction volume moved in the opposite direction, however. High-end sales climbed nearly 26% year-over-year in the third quarter of 2025, up to 73 closings. Real estate activity remained high across the city in the wake of the wildfires.

Forster Jones said the luxury market of today is stronger than the one La Fin first met with in 2022. For her, 2026 so far has been a flurry of calls and activity.

“If it’s a special property, then they’re buying it and they’re paying for it,” Forster Jones said. 

One of 12 bedrooms. One Shot Productions

Gold fixtures accent this massive walk-in closet. One Shot Productions

A marble-lined bathroom. One Shot Productions

La Fin first hit the market in 2022 for $139 million, with reported seller and former emergency room director Joe Englanoff tapping an array of agents to find a buyer.

Despite slipping under the $100 million mark, La Fin was the priciest new home listing in the US for the week ending Jan. 22, according to Realtor.com.

Deep-pocketed buyers in LA remain picky, Atlas Maize said. 

“They are just a little bit more discerning as far as what they want and value,” Atlas Maize said, noting a shift in buyer preferences from flashy modern pads to legacy family homes.

In addition to this main residence, the estate includes additional living quarters for staff and guests. One Shot Productions

Playground-like amenities span the home. One Shot Productions

La Fin has plenty to catch the eye — the estate spans more than 2 acres with hilltop views of Los Angeles, with interior features like a 44-foot chandelier composed of 55,000 crystals and an automated six-car elevator display. A 6,000-square-foot entertainment level is outfitted with a wine cellar, a vodka tasting room — where furs keep guests warm, according to the listing images — and a cigar lounge. 

The compound also offers separate living quarters for staff and guests, a standard feature at this tier of the market.

“This price adjustment aligns with what we’ve been hearing for a while,” co-listing agent Nicole Paxen told The Post. “The demand is there, and this positions the property exactly where the market is ready to act.”