SEATTLE--(BUSINESS WIRE)--Celebrity homes are pricey, but their star-owned status doesn’t necessarily make them worth more money. Redfin (www.redfin.com), the next-generation real estate brokerage, looked at homes bought and sold by more than 50 celebrities in the last 5 years and pitted them up against comparable homes sold in the area. It turns out that, on average, star-owned properties stay on the market for about 36 days longer than other homes, and usually sell for less than the original asking price.
These stars didn’t always break even either; some celeb homeowners didn’t even get back what they originally paid for their homes. Redfin real estate agent Alec Traub says it may have something to do with celebrities adding amenities that don’t appeal to all homebuyers. “A celeb might install a basketball court in the basement of a home, where another person might want to use that space for something else. Those homebuyers may be less inclined to want to pay the initial asking price,” he said.
To check out the interactive celebrity map showing where these celeb-owned home are located and how much each property was bought and sold for, please visit: https://www.redfin.com/blog/2016/10/celeb-home-map-shows-even-a-list-properties-dont-always-go-for-asking
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Redfin (www.redfin.com) is the next-generation real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the customer’s favor. Founded by software engineers, Redfin has the country’s #1 brokerage website and offers a host of online tools to consumers, including the most accurate home-value estimate online, the Redfin Estimate. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 80 major metro areas across the U.S. The company has closed more than $31 billion in home sales to date, and saved customers more than $335 million in fees, and counting.
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