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Chris Pratt s $32M Mansion Now Listed at $19.99M What Changed?
Even though I’ve been following celebrity real estate for years, there are nuances to this one.
The price of Chris Pratt and Katherine Schwarzenegger’s Pacific Palisades property has been lowered to $19.99 million. That is a significant decrease from the $32 million they had requested in the middle of 2023.
This isn’t just a headline about a celebrity cutting prices. It serves as a sobering reminder that even celebrities are affected by the current, competitive luxury real estate market in Los Angeles. several price reductions. A transaction that didn’t work out. A complete delisting. Now, a relist with recently arranged pictures and what seems like a last-ditch effort to seal the purchase.
The worst part is that they are presently renting Katy Perry’s Montecito mansion—yes, the same one that is embroiled in a court controversy over a contested sale—while their ideal home waits.
This has a peculiarly relatable quality. The same housing issues that ordinary people face—like timing, cost, and uncertainty—are still there for two public personalities with all the money and power in the world (only with a few additional zeroes).
Have you ever had to lower the cost of something you lovingly created? That is the beginning of this tale.
What do you think? Was $32 million too ambitious right away, or was the $19.99 million relist a wise choice?
The $32M Dream That Didn t Sell: Timeline of Price Cuts and Delisting
Allow me to explain how this upscale listing devolved into a wait-and-see game worth millions of dollars.
In July 2023, Katherine Schwarzenegger and Chris Pratt listed their mansion in the Pacific Palisades for $32 million. Perhaps it was overly bold, but it was a bold number. Despite multiple price reductions, the house remained on the market for more than a year, according to Realtor. The asking price eventually decreased to $25.5 million, but it was ineffective.
Then, in October 2024, right before the birth of their third child, they unexpectedly took the property off the market. The couple intended to wait until after the delivery before trying again, a source told Realtor. It makes sense, doesn’t it? When selling something this intimate, timing is crucial.
What most people didn’t know, though, is that they apparently entered escrow before the deal fell through. That type of setback hurts both financially and emotionally.
Thus, the home has returned over a year later. However, this time, it is restaged with new photographs and priced to move: $19.99M.
You’ll relate to this if you’ve ever tried to sell something you believed to be valuable only to discover the market doesn’t agree.
Even lower-profile celebrity houses, such as John DiMaggio’s nearly $2 million LA offering, are feeling the push-pull of today’s volatile market. This type of pricing friction is not unusual.
Inside the Mansion: What Makes This $20M Property So Special?
What what makes this house worth almost $20 million, then? Let’s get started.
The couple spent $15.6 million buying the property in 2018, but instead of remodeling the old building, they demolished it and started over with a completely bespoke estate. After over three years of construction, their ideal home was finished in 2021.
This magnificent estate, which has six bedrooms and seven and a half bathrooms, has almost everything you could possibly want at this price range and more. Consider:
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Wellness room
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Home theater
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Golf simulator
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Soaring ceilings
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natural light
, and curated finishes in every room
And this spot is perfect if you value peace without compromising accessibility. It provides convenience and seclusion, tucked up in the hills just a short distance from the beach and Palisades Village.
The catch is that a home’s price must still be commensurate with its perceived value, regardless of how lovely it is. Value is what customers are searching for in today’s market, luxury or not.
Take a look at this Hidden Hills residence with a Kanye West link if you enjoy tracking how celebrities customize their homes.It demonstrates a totally distinct, although no less daring, design philosophy.
Why $19.99M? The Strategy Behind the New Price Point
Reducing the price to $19.99M is a strategy, not just a way to cut costs. And even outside of real estate, you and I have seen this one before.
After months of inactivity, the couple’s new asking price is intended to spark interest again, according to The Richest. And, at least in terms of media buzz, it’s working.
However, that $19.99M price tag isn’t arbitrary. Psychology is involved. Similar to when a product is marketed at $19.99 rather than $20, this pricing strategy gently presents the house as more affordable in the upscale market. The emotional $20M threshold is barely below it. That disparity can make a property look like a good deal to ultra-wealthy buyers, particularly if comparable properties in the neighborhood are still selling for $22M+.
In 2025, there has also been a significant change in luxury inventory and mortgage rates. Price-conscious consumers are once again in charge, and astute vendors are adapting to meet their needs.
This price reduction, in my opinion, indicates that we are now serious. We shall see if it is sufficient.
What do you think? Would you wait a little while longer or bite at $19.99M? Please share your comments here, particularly if you keep a close eye on the LA market.
Timing the Market: Why They Relisted Now
Over the years, I’ve discovered that time is nearly as important as price.
Chris and Katherine made the wise personal choice to wait to relist until after the birth of their baby. However, from the standpoint of the market, more is happening.
Just before the holidays, but after consumers have returned from their vacations, the LA luxury market usually starts to pick up steam in late summer and early fall. This is the time to target wealthy purchasers who are preparing to move at the end of the year.
With improved staging, greater transparency, and less private turmoil behind the scenes, relisting now offers the home a new beginning. And let’s face it, they needed that reset following months off the market and a botched escrow.
Both of us are aware that when the sellers are genuinely ready to sell, homes—especially sentimental ones—tend to sell more quickly. For them, this relist feels like that moment.
A few weeks ago, rumors of this relist began to circulate in real estate insider circles, particularly on those WhatsApp threads where investors and agents discreetly exchange price reductions before they are reported by the media. I frequently spot patterns there before they are made public.
Brentwood Bound: Where the Couple Goes from Here
What would Chris and Katherine do if this Pacific Palisades mansion sells?
According to reports, they have been temporarily renting Katy Perry’s Montecito residence. One of LA’s most exclusive and family-friendly neighborhoods, Brentwood, is where their new permanent residence is currently being built. With three young children and their increasing need for privacy, routine, and space, that move makes perfect sense.
This change also demonstrates something that you and I tend to overlook about celebrities: they are also attempting to establish stability. It’s not just PR spin to rent while renovations are being done and to wait to sell until after a baby is born. Life things.
And you’ll understand how timing, emotions, and practicalities all come together at once if you’ve ever managed a house sale, children, and a major move.
The family dynamic here also includes Pratt’s 12-year-old son from his first marriage, Jack. The meaning of home is further complicated in a blended household like that.
It’s interesting to note that while some extremely affluent buyers continue to spend large sums of money, they are choosing trophy houses with distinctive histories, such as Eric Schmidt’s $110 million acquisition of The Manor, demonstrating how picky the top tier has grown.
Could This Be a Turning Point in L.A. s Luxury Real Estate?
The main query I keep returning to is this: Is this a single celebrity listing or does it indicate a change in the premium real estate market in Los Angeles?
You know something more serious is going on when celebrities like Pratt and Schwarzenegger are unable to sell a completely customized, luxury home for more than a year, even after a significant price reduction.
Although it is correcting, the ultra-luxury segment is not crashing. fewer foreign purchasers. More doubt about prices. Indeed, even for buyers with plenty of cash, higher mortgage rates are beginning to appear in this tier as well.
Although this $19.99 million relist may not seem significant, it underscores what many astute agents and investors are realizing: you can no longer just throw out a number and hope that the neighborhood or name will carry it.
This article serves as a fantastic reminder for you as a reader, whether you’re investing, property shopping, or simply keeping an eye on the market:
Even ideal homes must abide by the laws of the market.
Are you looking for more celebrity real estate transactions and shakeups in luxury homes? Get exclusive stories that aren’t found on other websites by visiting the Build Like New fullReal Estate & Homeownership area.
Disclaimer: At the time of writing, the data in this article was taken from publicly accessible sources and real estate listings. Investment or financial advice is not what it is. Market conditions, ownership status, and prices are subject to sudden changes.
Contents Table
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The $32M Dream That Didn t Sell: Timeline of Price Cuts and Delisting
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Inside the Mansion: What Makes This $20M Property So Special?
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Why $19.99M? The Strategy Behind the New Price Point
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Timing the Market: Why They Relisted Now
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Brentwood Bound: Where the Couple Goes from Here
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Could This Be a Turning Point in L.A. s Luxury Real Estate?
