Does a Celebrity Name Drop Help a Home Sell for Full Ask? Nope…

A celebrity name doesn’t market your home all the way to a full ask, Redfin finds.

You’d think a celebrity name would make the price tag a bit stickier. But apparently, celebrity real estate plays under the same bargaining rules that apply to the rest of us (except that there are more zeros to cut off.)

Redfin has recently looked at 60 celebrity cribs and stacked up asking against selling price.

What they found was that a celebrity name doesn’t necessarily market your home all the way to a full ask. Instead, celebrities have had to slash some serious $ off their initial ask, with big names like Matthew Perry, Jessica Simpson, and Katy Perry dropping their home prices by $2.85 million, $1.6 million, and $1.36 million, respectively.

Here’s the map of celebrity homes in Southern California compiled by Redfin that lets you look at how each property was priced vs. its final selling price:

 

Do Celebrity Cribs Sell for More if Their Owner is Likable?

Would Johnny Depp’s penthouses sell faster if he’d get a boost of positive PR? I guess time will tell, but it’s not such a far stretch to assume that the type of publicity the celebrity gets reflects upon the property he’s trying to sell.

After all, there’s no shortage of luxury listings on the market, and a limited number of buyers with deep-enough pockets.

And while a celebrity name tag helps a listing stand out, not all Hollywood names ring the same.

Based on Redfin’s sample, popularity seems to have worked in favor of New Girl Zooey Deschanel (who got $103,000 more than the initial ask), Jason Statham ($200k over ask), as well as Justin Bartha, Kevin James, and Cher.

Redfin has not released detailed information on the time frame it looked at, so we can’t connect the sales to any major events or releases in the lives of each celebrity. I would like to see if there’s an overlap between the time that Jason Statham closed on his house and the months he held posters for roles in heavily advertised movies like Furious 7.

What we do know is that Michael C. Hall sold for full ask. Nobody fucks with Dexter.

More celebrity real estate:

Gwen Stefani Lists Beverly Hills Estate for $35M; It’s Just as Quirky and Colorful as You’d Expect
Meghan Trainor Pays $4.9 Million for Toluca Lake Carriage House with Star-Studded Past
Pharrell is ‘Happy’ to Finally Sell Stunning Brickell Condo for $9.25 Million
Anne Hathaway’s Super-Posh Former Duplex Hits the Market for $33M

Written by Georgiana Mihaila

The main wordsmith behind all those Fancy Pants Homes. Avid reader and a sucker for superhero movies. Read, write, and dream real estate.

Leave a Reply

Your email address will not be published. Required fields are marked *