Eva Longoria, Scarlett Johansson and many more stars have experienced the wrath of a fluctuating housing market and suffered major losses while trying to sell their homes.
The housing market is nothing if not unpredictable so if you’re a celebrity juggling homes in several major cities, as many stars are, it is always a balancing act trying to figure out when is the best time to sell.
Most of these A-listers quickly bounced back from real estate flops, like Scarface actress Michelle Pfeiffer and her husband David E. Kelley who quickly made an over $3 million profit on a real estate deal shortly after losing over $1 million on a different house sale.
But other stars, by their own admission, were almost financially destroyed by some real estate deals that went wrong. Ghost Rider actor Nicolas Cage revealed in 2023 that he was left scrambling back from $6 million in the early 2010s after the global housing market collapse impacted his elaborate real estate portfolio.
But, despite all these real estate losses, these stars have continued to level up with luxury houses, apartments and, in some cases, entire compounds across the globe. So, we assume they are doing just fine!
See celebrities who have lost over $1 million on real estate deals over the years.
Celine Dion
Celine Dion took a major hit when she sold her Florida mansion in 2017. The star listed her oceanfront property for $72 million in 2013, after investing millions of dollars in a renovation.
The 20,000-square-foot estate in Jupiter Island, which was complete with 13 bedrooms and its own waterpark, was sold for $28 million.
Michelle Pfeiffer & David E. Kelley
Michelle Pfeiffer and David E. Kelley have been at the center of several high-profile real estate deals with very mixed success.
They incurred a $1.2 million loss when they sold one of their Pacific Palisades houses for $6.5 million in 2022 after purchasing it for $5.3 million in 2018.
However, on the flipside, they did snap up a $22.25 million house in 2020, and then quickly sold for $25 million the next year.
Eva Longoria
Eva Longoria suffered a $3.15 million loss when she sold her Los Angeles home in 2018.
The star first bought the two-house compound from Tom Cruise in 2015 for $11.4 million and originally listed it for $14 million befor it eventually sold for $8.25 million, according to People.
Nicolas Cage
In 2009, Nicolas Cage was feeling the impacts of the crash in the property market when he sold his elaborate English castle at a $1.5 million loss.
The actor reportedly purchased the gothic castle for $6 million and sold it for $4.5 million at a time where he was rapidly selling off his vast real estate portfolio, per the Daily Mail.
In 2023, Cage admitted that his property investments briefly caused him to go into enormous debt. “I was over-invested in real estate. The real estate market crashed, and I couldn’t get out in time,” Cage told 60 Minutes. “I paid them all back, but it was about $6 million. I never filed for bankruptcy.”
Adele
After splitting from ex-husband Simon Konecki in 2018, Adele lost $1 million when she sold the UK house she shared with her ex in 2020.
The singer purchased the house for $4 million in 2018, according to the Daily Mail.
Sandra Bullock
In 2022, Sandra Bullock lost a lot of money in an off-market deal when she sold a condo in West Hollywood’s Sierra Towers to Joker director Todd Phillips.
The Oscar winner paid $5.1 million for it in 2017 and sold it for $3.6 million, making for a $1.5 million loss.
Leonardo DiCaprio
Leonardo DiCaprio lost $2 million when he sold his luxury New York apartment for $8 million in 2016 after purchasing the property for $10 million three years earlier.
To make matters worse, the actor never even lived in the home.
Reese Witherspoon
By the looks of things, Reese Witherspoon has definitely bounced back financially after losing almost $1 million when she sold her elaborate California ranch in 2013. The star initially listed it for $10 million but reportedly only got $4,983,500 when the deal closed.
That is a lot less than the $5.8 million Witherspoon paid for the home when she bought it in 2008. The home has nine bedrooms and seven bathrooms.
Ryan Phillippe
Witherspoon’s ex Ryan Phillippe has also had some bad luck with real estate. After splitting from his famous ex-wife, the actor purchased a Hollywood Hills home for $7.175 million in 2008.
But when it came time to sell it, the star had spent two years finding someone to take it off his hands until it eventually sold for $6 million in 2013, according to the LA Times.
Pharrell Williams
While we wouldn’t complain if we sold a home for $14 million, as Pharrell did in 2020, it still netted out as a loss for the music producer.
The star bought the 10-bedroom, 11-bathroom, three-storey from Tyler Perry in 2018 for a cool $15.6 million but lived in the fountain-filled home for just two years before passing it off, according to the LA Times.
Scarlett Johansson
Scarlett Johansson has suffered not one, but two major real estate losses during her career.
In 2022, she finally sold her Manhattan apartment for $1.9 million after it sat on the market for over two years but incurred a loss due to the $2.1 million price tag she paid in 2008.
About a year before she bought the New York pad, the star also splashed out $7 million on a stunning Spanish style 4-bed home in the Hollywood Hills which she sold for just $4 million in 2010.
Trevor Noah
In December 2020, Noah forked out a hefty sum of $27.5 million for a stunning 6-bedroom, 11,375-square-foot home in Bel Air. Then, in March 2022, he took a bit of a hit when the property sold for $26.39 million after two months on the market. That’s over $1 million less than what he paid!
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