Chris Pratt’s $32M Mansion Now Listed at $19.99M — What Changed?

I’ve followed celebrity real estate for years, but this one’s got layers.

Chris Pratt and Katherine Schwarzenegger have just relisted their Pacific Palisades mansion—again—with the price now cut down to $19.99 million. That’s a massive drop from the original $32 million they were asking back in mid‑2023.

This isn’t just a “celebrity lowers price” headline. It’s a quiet reality check on how even A‑listers aren’t immune to the tough luxury housing market in Los Angeles right now. Multiple price cuts. A deal that fell through. A full delisting. And now, a relist with freshly staged photos and what feels like one final push to close the deal.

And here’s the kicker: while their dream home sits waiting, they’re currently renting Katy Perry’s Montecito mansion—yes, the same one that’s tied up in a legal mess over a disputed sale.

There’s something unusually relatable here. Two public figures with all the money and influence in the world, still facing the same kind of housing challenges—timing, pricing, uncertainty—that regular folks do (just with a few extra zeroes).

Have you ever had to cut the price on something you built with love? That’s where this story starts.

What’s your take—was $32M way too ambitious from the start, or is the $19.99M relist actually a smart move?

The $32M Dream That Didn’t Sell: Timeline of Price Cuts and Delisting

Let me walk you through how this luxury listing spiraled into a multi-million dollar game of wait and see.

Back in July 2023, Chris Pratt and Katherine Schwarzenegger listed their Pacific Palisades mansion for $32 million. It was a bold number—but maybe too bold. According to Realtor, the home sat on the market for over a year, even after several price reductions. Eventually, the ask dropped to $25.5 million, but that still didn’t do the trick.

Then came a curveball—in October 2024, just before welcoming their third child, they pulled the property off the market. A source told Realtor that the couple wanted to wait until after the birth before trying again. Makes sense, right? Timing is everything when you’re selling something this personal.

But here’s the part most people missed: they reportedly went into escrow before the deal fell through. That’s the kind of setback that stings—emotionally and financially.

So now, nearly a year later, the house is back. But this time it’s priced to move: $19.99M and restaged with new photos.

If you’ve ever tried to sell something you thought was priceless—only to find the market doesn’t agree—you’ll feel this one.

This kind of pricing friction isn’t unique—even lower-profile celebrity homes, like John DiMaggio’s nearly $2M LA listing, are feeling the push-pull of today’s unpredictable market.

Inside the Mansion: What Makes This $20M Property So Special?

So what exactly makes this home worth nearly $20 million? Let’s get into it.

The couple bought the lot in 2018 for $15.6 million—but instead of renovating the existing structure, they tore it down and built a fully custom estate from the ground up. Construction took around three years, and by 2021, their dream home was complete.

We’re talking about a 6-bedroom, 7.5-bath architectural estate, with just about everything you’d expect at this price point—and then some. Think:

• Wellness room
• Home theater
• Golf simulator
• Soaring ceilings, natural light, and curated finishes in every room

And if you’re someone who values peace without sacrificing access, this place nails it. Nestled in the hills, minutes from the beach and the Palisades Village, it offers both privacy and convenience.

But here’s the twist—no matter how beautiful a home is, price still has to match perception. Luxury or not, buyers in today’s market are looking for value.

If you like tracing how celebs put personal touches into custom homes, check out this Hidden Hills estate with a Kanye West connection—it shows a very different but equally bold design philosophy.

Why $19.99M? The Strategy Behind the New Price Point

Dropping the price to $19.99M isn’t just about slashing numbers—it’s a strategy. And it’s one you and I have seen before, even outside real estate.

According to The Richest, the couple’s new asking price is meant to reinvigorate interest after months of stagnation. And it’s working—at least from a media buzz standpoint.

But that $19.99M tag isn’t random. There’s psychology at play. Just like you’ll see a product priced at $19.99 instead of $20, this price subtly positions the home as more “attainable” in the high-end market. It falls just below the emotional $20M threshold. For ultra-wealthy buyers, that difference can make a property seem like a steal—especially if comps in the area are still floating closer to $22M+.

Also, mortgage rates and luxury inventory have shifted dramatically in 2025. Price-sensitive buyers are back in control, and smart sellers are adjusting to match.

From where I stand, this price cut says: “We’re serious now.” Whether it’s enough—we’ll see.

What’s your take—would you bite at $19.99M, or wait it out longer? Drop your thoughts below—especially if you follow the LA market closely.

Timing the Market: Why They Relisted Now

Here’s something I’ve learned over the years—timing matters almost as much as price.

Chris and Katherine waited until after their son’s birth to relist, which is a smart personal decision. But from a market perspective, there’s more going on.

The LA luxury market tends to pick up in late summer and early fall—just before the holidays but after buyers return from travel. If you’re trying to catch high-net-worth buyers planning for year-end relocations, this is the moment.

Relisting now gives the property a fresh start, with better staging, more clarity, and less personal chaos behind the scenes. And let’s be real: after a failed escrow and months off the market, they needed that reset.

You and I both know that homes—especially emotional ones—often sell better when the sellers are truly ready to let go. This relist feels like that moment for them.

By the way, some of the earliest whispers about this relist started circulating in real estate insider groups a few weeks ago—especially on some of those WhatsApp threads where agents and investors quietly share price cuts before they hit the media. That’s often where I catch trends before they go public.

Brentwood Bound: Where the Couple Goes from Here

So, if this Pacific Palisades mansion sells, where are Chris and Katherine headed next?

They’ve reportedly been renting Katy Perry’s Montecito home, but that’s just temporary. Their new permanent home is under construction in Brentwood, one of LA’s most private and family-friendly enclaves. That move makes total sense—especially with three young kids and a growing need for space, routine, and privacy.

This transition also shows something you and I often forget about celebrities: they’re trying to build stability too. Renting during renovations, waiting to sell until after a baby—it’s not just PR spin. It’s life stuff.

And if you’ve ever juggled a home sale, kids, and a big move, you’ll know how much timing, emotions, and logistics all collide at once.

Jack, Pratt’s 12-year-old son from his previous marriage, is also part of the family dynamic here. That kind of blended household adds another layer to what “home” really needs to mean.

Interestingly, some ultra-wealthy buyers are still spending big—but they’re picking trophy properties with unique history, like Eric Schmidt’s $110M purchase of The Manor, which shows how selective the top tier has become.

Could This Be a Turning Point in L.A.’s Luxury Real Estate?

Here’s the bigger question I keep coming back to: Is this just about one celebrity listing, or is it a sign of a shift in LA’s luxury housing market?

When A-listers like Pratt and Schwarzenegger can’t sell a fully custom, top-of-the-line mansion for over a year—even after a dramatic price cut—you know something deeper’s happening.

The ultra-luxury segment isn’t crashing, but it is correcting. Fewer international buyers. More pricing skepticism. And yes, higher mortgage rates are creeping into this tier too, even for cash-rich buyers.

This $19.99M relist might not seem like a big deal, but it reflects what a lot of smart agents and investors are seeing: you can’t just throw a number out anymore and expect the name or neighborhood to carry it.

For you as a reader, whether you’re house hunting, investing, or just watching the market from the sidelines, this story is a great reminder:

Even dream homes have to play by the market’s rules.

Curious about more celeb real estate deals and luxury home shakeups? Visit Build Like New full Real Estate & Homeownership section for exclusive stories you won’t find on mainstream sites.

Disclaimer: The information in this article is based on publicly available sources and real estate listings at the time of writing. It does not constitute financial or investment advice. Prices, ownership status, and market conditions may change without notice.