Both sides had their moments in an entertaining first period, but the score remained level at the interval.
Levante moved ahead five minutes from time courtesy of a strike from Nabil El Zhar, but the scoring was not over as Alvaro Morata put Madrid level, before Cristiano Ronaldo won it in the fourth minute of additional time.
Here, Sports Mole dissects the 90 minutes of action between the two Spanish rivals.
On target: 5
On target: 10
Was the result fair?
In a word? No. In truth, neither side were deserving of all three points this evening, with a draw just about a fair reflection of the events in Valencia. Levante came within a couple of minutes of picking up an incredible win, but they simply could not hold on as they retreated deeper and deeper in the latter stages. Madrid, meanwhile, must be praised for their attitude in stoppage time.
The home side can be proud of their performance this evening, but ultimately they have taken no points from proceedings. They decided to attack their opponents from the very first whistle, which brought success as they took the lead with 57 minutes on the clock. However, they were guilty of some poor passing in the latter stages, which cost them the chance to take something from the match. That said, it is difficult to criticise the work-rate they put in.
Real Madrid's performance
Madrid might have left with all the points this evening, but once more, they were far from convincing. They struggled to carve out any real openings in the first period, while that was also the case for much of the second. However, with the likes of Ronaldo in their team, they always have that threat in the final third. Although it is still early in the season, they simply could not afford another slip up with Barcelona and Atletico Madrid boasting perfect records after seven matches.
Sports Mole's man of the match
Pape Diop: The Levante midfielder might have been on the losing side this evening, but the result takes nothing away from his performance. He was just everywhere throughout the 90 minutes - quelling Madrid attacks, before playing his part in the final third. Aside from the obvious, he has arguably been one of the star performers in La Liga in the early part of the season.
Biggest gaffe of the match
There is not one particular moment that stands out, but Levante must be criticised for the way that they retreated in the latter stages. It is easy to say in hindsight, but they had the opportunity to keep hold of the ball when they moved 2-1 ahead, but instead they continued to hand possession back to their opponents. Ultimately, it cost them the chance to take something from the match.
Jose Gonzalez had a fairly comfortable 90 minutes of action this evening despite the end-to-end nature of the match. The Spaniard issued just the single yellow card in the first period despite a number of challenges as he remained sensitive to the occasion. Overall, neither manager would have had any complaints about his performance.
Levante: Levante will attempt to return to winning ways when they travel to Celta Vigo on October 21.
Real Madrid: Real Madrid return to the Bernabeu after the international break for a home game against Malaga.