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HOUSE OF THE DAY: Reese Witherspoon Sells Her California Ranch At A Major Loss

Julie ZeveloffDec 27, 2013, 02:17 IST

The AgencyAfter more than a year on the market, actress Reese Witherspoon has sold her Ojai, Calif. home at a $816,500 loss, according to real estate blogger The Real Estalker.

Witherspoon listed the ranch in Sept. 2012 for $10 million, just weeks after it appeared on the cover of Elle Decor.

She later dropped the price to $5.9 million, but the still-unknown buyer bought it for just $4,983,500, according to The Real Estalker.

That's far less than the $5.8 million Witherspoon paid for the home when she bought it in 2008 from designer Kathryn Ireland, according to The Hollywood Reporter. The home has nine bedrooms and seven bathrooms.

Meredith Galante contributed to this post.