PHOTO: Khloe Kardashian.
The “Keeping Up With the Kardashians” star paid $7.2 million in 2014, when she purchased the home from Justin Bieber
Khloé Kardashian’s family reality TV show is coming to a close, after 20 seasons. Perhaps she should consider a role in real estate? She’s certainly had plenty of success in the field.
Latest evidence: She just sold her Calabasas, CA, home for a record $15.5 million in an off-market deal, Variety reported. Tomer Fridman with Compass represented the seller.
The “Keeping Up With the Kardashians” star paid $7.2 million in 2014, when she purchased the Mediterranean spread from the pop star Justin Bieber. Six years later, she’s realized quite a return on her investment.
How did Khloé command a sky-high price?
Location and market conditions played a major role.
“In Los Angeles, we’re in a seller’s market,” says the luxury agent Shelton Wilder, who is CEO of the L.A.-based Shelton Wilder Group.
“Inventory is extremely low, and demand is very high. Due to the seller’s market, property prices have been trending on the higher side.”
The celeb-heavy town of Calabasas sits on the far northwest edge of Los Angeles County and isn’t immune from the market forces propelling the L.A. market.
Wilder added that celebrity may have played a starring role.
READ MORE VIA MARKET WATCH