Market Notes & Insights

The $5 Million Line: How the L.A. "Mansion Tax" Has Reshaped Selling in Los Angeles

Since the city's tax on home sales above $5 million took effect in April 2023, closed prices in Los Angeles have clustered hard in two places: just under $5,000,000, and, more recently, just under the tax's current, higher threshold. Homes priced above the line are also sitting on the market far longer, and cash buyers show up less often there, not more.