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By Kerry Close
October 4, 2016
A Redifin analysis finds that homes owned by celebrities tend to stay on the market longer.
A Redifin analysis finds that homes owned by celebrities tend to stay on the market longer.
Terry J Alcorn—Getty Images

It seems selling your home quickly is not among the perks of fame.

A new Redfin analysis studied homes bought and sold by 60 celebrities, and compared them to similar homes in the area. The group found that celebrity-owned properties tended to stay on the market for about 36 days longer than other homes and that they often sold for below asking price.

Read More: Why Buying a Fixer-Upper Might Not Be Worth It

Perhaps unsurprisingly, celebrity homes are often larger, with more bedrooms and bathrooms, and a higher price per square foot than other nearby homes. They also tend to add amenities, such as a basketball court in the basement, that might not be appealing to most buyers, Redfin pointed out.

Celebrity homes might also be more challenging to show, since stars might not want to advertise their private business. “Anyone looking to tour a celeb home would have to go through a vetting process, so the sale of the home takes a little longer than other homes,” Redfin real estate agent Alec Traub said in a news release.

Some celebrities even found themselves accepting more than $1 million less than asking price. For instance, Matthew Perry sold his Malibu home for $2.85 million less than the $25 million for which he originally listed it. Similarly, Jessica Simpson settled for $1.595 million less than her original list price of nearly $8 million for her Beverly Hills home.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

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