Sylvester Stallone Re-Lists L.A. Mansion ... Still Looking for $85 Million

Sylvester Stallone has just learned the connection between comedy and real estate -- timing is everything.

Sly's 8-bedroom, 9-bath Beverly Hills mansion is back on the market with the same sticker price he slapped on it a few months ago -- he's asking $85 mil for the sweet pad ... one he's long called home since snapping it up in the '90s.

He'd initially listed it in February at $110 mil ... but we're told no one was biting at the time, so he slashed the price by a lot -- some $25 mil or so to get it at its current price. Sly didn't have any takers at the time -- so he yanked it off the market.

But, things have changed. The real estate market in SoCal is hotter than ever, and houses in gated…