With the Grammys and Oscars over, celebrities can now focus on a similarly rare commodity: real estate.
Forget the entertainment industry’s highest honors: the houses and land that celebrities have amassed during their career are aging far better than the statuettes that no one will remember they won a decade from now.
Existing home sales in January increased 3.8% from the same time last year. The median existing home sale price of $228,900, meanwhile, is up 7.1% since the same time last year. That’s the largest year-over-year price increase since January of last year, and it’s thanks to a relatively low supply of 1.69 million existing homes. That’s 7.1% fewer than there were last year, and the 3.6-month supply is well below the six months that the National Association of Realtors deems healthy.
“Market challenges remain, but the housing market is off to a prosperous start as homebuyers staved off inventory levels that are far from adequate and deteriorating affordability conditions,” says Lawrence Yun, chief economist for the National Association of Realtors. “Competition is likely to heat up even more heading into the spring for house hunters looking for homes in the lower- and mid-market price range.”
That isn’t great news for the 33% of all buyers who are first-time home buyers — up from 32% at the same time last year. With roughly one out of every five home sales being paid for in cash, house flippers are taking a whole lot of the best deals for themselves.
Celebrities aren’t immune to the fluctuations in the market, with many of their homes seeing astronomical price hikes during the short time they’ve owned them. With help from Zillow-owned real-estate site Trulia, we took a look at the celebrity housing market and found ten examples of celebrities who are about to make a bundle in this incredibly hot housing market:
Stephen Dorff’s Malibu beach house
Remember the ’90s? Stephen Dorff does.
Back when everyone was supposedly slacking off, Dorff was doing his best Ethan Hawke/Christian Slater impression in S.F.W., being a bad vampire in Blade, playing a forgotten Beatle in Backbeat and going to Baltimore with John Waters and Melanie Griffith in Cecil B. Demented. Even in Sofia Coppola’s 2010 celebrity fishbowl drama Somewhere, he played an actor whose best days in the ’90s had passed him by.
Think he minds being associated with that decade? Not really. The wealth he made during that time got him this 2,298-square-foot home, built in 1968 by architectural firm Buff & Hensman, back in 2001 for $2.546 million. The Brown House has maintained its original character, cedar shingles, dark wood, double-height foyer, full-height glass and spiral staircase while providing buyers 40 feet along Malibu’s La Costa Beach. If this three bedroom, three bathroom home gets Dorff his asking price, we’re fairly certain he won’t mind a few ’90s flashbacks on closing day.
Selena Gomez’s Texas mansion
Like a fling with a Canadian pop star, Selena Gomez’s time at this outsized Texas pad is over.
It’s hard to believe her pop career has only spanned the last four years — especially since she’s been hustling since Another Cinderella Story (What? Do we always have to bring up Wizards of Waverly Place?). But after releasing three albums in the last four years, basically carrying Charlie Puth through last year’s “We Don’t Talk Anymore” and dropping her new single “It Ain’t Me” this year, Gomez has a lot on the plate.
This five-bed, six-and-a-half-bath, 10,016-square-foot gated home in Fort Worth’s Montserrat neighborhood just doesn’t fit in the plans anymore. Just 12 years old and set on 1.5 acres, the house includes a tennis-sport court, putting green, saltwater pool, outdoor kitchen, cabana. chef’s kitchen, media room, game room with wet bar and eight-car garage. It’s also not the first home Gomez has had to part with. She bought her starter home in Tarzana, Calif., in 2011 for $2.175 million before selling it to Iggy Azalea and L.A. Laker Nick Young (we refuse to call him Swaggy P) for $3.45 million in 2014. That year, she bought a $4.495 million mansion in Calabasas, Calif., later that year, only to sell it at a loss for $3.3 million in 2015. There’s no point settling down when your best years haven’t even started yet.
Rob Kardashian’s Calabasas regift
Rob is either just trolling the rest of the Kardashian clan or has learned to play their game really well.
He not only hooked up with Kim’s nemesis and Kanye West’s ex Blac Chyna, but also had a child with her and drew a whole lot of camera time away from the rest of the family. Now, he’s selling the four-bedroom, five-bathroom home that his mother Kris Jenner paid $2.285 million for last year. Honestly, we don’t blame him: his sisters Kourtney, Kylie, and Khloe have basically bought up Calabasas and all live in the same neighborhood as this house. When you have a sock empire to run, you can’t have the rest of the family spending as much time with you off-camera as they do when E! is recording.
This mockup of an East Coast colonial never had a chance. Built in 2005, it measures 4,256 square feet and features large windows, a formal living room with fireplace and an office with French doors that open to a front porch. There are also four large bedroom suites that imply the family is staying over. Instead of having everyone around the kitchen’s large center island and in its breakfast nook, or mucking around the formal dining room and the butler’s pantry, Rob is cutting the cord while he has the chance. Those French doors out to the courtyard and the family room that opens out to the swimming pool, spa, fire pit, and outdoor kitchen aren’t going to be used by the other Kardashians any time soon.