T
he ultra-luxury market is booming in Southern California, with properties fetching record prices. The most expensive home publicly for sale in Southern California is Casa Encantada, a historic mansion in Bel-Air previously owned by hotel magnate Conrad Hilton. If it sells at its ask of $195 million, it will be the third most expensive home sold in California.
In May 2023, Beyoncé and Jay-Z bought a 30,000-square-foot Malibu home on 8 acres for $200 million in the Paradise Cove Bluffs neighborhood. Oakley founder James Jannard sold a 15,000-square-foot Malibu mansion on 9 acres near El Pescador State Beach in June 2024 for $210 million.
According to a recent Compass report, the ultra-luxury market is driven by the wealthiest 1% who seek these properties as safe investments against inflation. These transactions are often all-cash deals.
The report focused on the ultra-luxury segment and highlighted the greater Los Angeles area, which recorded 134 sales of homes priced at $10 million or more with a total sales volume of $2.67 billion. Neighboring Orange County ranked 5th in the U.S. overall with 51 homes sold and 6th in sales volume at $739.37 million.
Mega-deals aside, California has a high concentration of ultra-luxury homes on the market. The Southern California News Group has compiled the priciest homes for sale in Ventura, L.A., Orange, San Bernardino, and Riverside counties. These five homes are arranged from most to least expensive according to Homes.com.
In Los Angeles County, a 40,000-square-foot estate on an 8.4-acre promontory overlooking the golf course at Bel-Air Country Club is for sale at $195 million. The estate was constructed in 1937 by renowned architect James E. Dolena and has been meticulously restored by luxury architect Peter Marino in the original Deco Hollywood style of interior designer T.H. Robjohns-Gibbons.
The primary suite features two sitting rooms, a spacious bedroom, and double marble bathrooms and closets. There are seven bedrooms and 20 bathrooms, as well as a beauty salon and wellness areas such as a gym, massage room, and sauna. Outdoor amenities include a pool, spa, and pool pavilion that can double as a screening room. The grounds include water features, sculptures, animal topiaries, and gardens designated for roses, vegetables, and herbs, as well as tropical plants.
Listing agents: Josh Flagg of Compass and Kurt Rappaport of Westside Estate Agency.
In Orange County, a 42-acre property in San Juan Capistrano is listed for $150 million. The property has permitted plans for a 38,000-square-foot primary residence on the ridgeline, offering 360-degree views. There are also plans for two 10,000-square-foot guest houses and quarters for the existing avocado and citrus growing operation, now transitioning to agave.
The future residences are covered under Proposition 13, while the agribusiness is taxed under the Williamson Act, which provides reduced property tax savings based on production. A barn, stable for up to 10 horses and distillery were also approved as part of the offer.
Listing agents: John Stanaland, Bradley Feldman, and David Stoll of Douglas Elliman Real Estate.
In Ventura County, a Malibu beachfront home inspired by Guggenheim and Broad museums is on the market for $42 million. The property has a modern glass and steel design and comes with state-of-the-art amenities. With a focus on feng shui, it ensures a balance between the built and natural world and is engineered to withstand whatever nature throws at it.
The property has 75 feet of beachfront, including the Harrison Reef tide pool. It was first listed in March 2023 for $68.8 million and then dropped to $59.5 million in August 2023, $57.5 million in January 2024, and to its current asking price of $42 million in May.
Listing agents: Madison Hildebrand and Jennifer Chrisman of Compass and Wendy Wong and Katherine Quach of Treeline Realty and Investment.
In Riverside County, a 39-acre property in La Quinta is listed at $36 million. The Moroccan-inspired residence spans 5,409 square feet and is situated behind gates and a 12-foot perimeter wall. The property features an artificial 2.5-acre lagoon, an infinity pool, and four 500-square-foot circular guesthouses, each with one bedroom and one bathroom.
The estate also boasts equestrian facilities, including a racetrack, multiple paddocks, and a stable where Griffin housed more than 50 horses at a time, as he wrote in “Merv: Making the Good Life Last.” Two buildings on the property provide living quarters for staff, making for a total of 13 bedrooms and 12 bathrooms throughout the entire compound.
A potable well sustains the property, which includes water rights.
Listing agents: Zach Goldsmith and Mauricio Umanksy of The Agency.
In San Bernardino County, "American Psycho" producer Chris Hanley and his wife, Roberta, have relisted their "Invisible House" for a record ask of $17.95 million. The rectangular mirror home spans 5,490 square feet with three bedrooms, four bathrooms, and a 100-foot-long indoor solar-heated pool. Other features include floor-to-ceiling glass, an eat-in kitchen, and a primary suite with sliding glazed walls that open to the desert.
The home was previously listed for $18 million and operated as a short-term rental. It appeared on the Netflix series "The World's Most Amazing Vacation Rentals," hosted Demi Lovato, and was animated in the "Save Your Tears" music video by the Weeknd and Ariana Grande.
Listing agents: Aaron Kirman and Matt Adamo of Christie's International Real Estate Southern California.
