ENTERTAINMENT

Selena Gomez sells her Encino mansion, once owned by Tom Petty, for $5.4 million

PUBLISHED Sep 24, 2026, 6:36 AM ET

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Selena Gomez sells her Encino mansion, once owned by Tom Petty, for $5.4 million

Media Bias Meter

Sources: 22

Left 14%

Center 73%

Right 14%

Sources: 22

American entertainer and entrepreneur Selena Gomez has sold her custom-built Encino mansion for $5.4 million, six years after purchasing the property for approximately $4.9 million in April 2020. The three-story, 11,500-square-foot estate originally hit the market earlier in the summer carrying an initial asking price of $6.49 million before undergoing a significant price reduction. Originally constructed in 1989 for rock legend Tom Petty and his then-wife Jane Benyo, the property features six bedrooms, ten bathrooms, a gourmet chef's kitchen that served as the filming location for her streaming cooking series Selena Plus Chef, an in-home recording studio, a gym, a massage room, a wine cellar, and a resort-style backyard with a swimming pool. The transaction yields a modest gross return for Gomez following her recent real estate acquisition in Beverly Hills alongside record producer Benny Blanco.

By Noormahi M. | JQJO News

Timeline of Events

On January 1, 1989, Tom Petty built the custom Encino estate following a fire.
On April 1, 2020, Selena Gomez purchased the property for roughly 4.9 million dollars.
On August 1, 2024, the residence served as her cooking show production set.
On May 1, 2026, Gomez initially listed the residential estate for 6.49 million dollars.
On June 1, 2026, the asking price dropped following initial real estate market resistance.
On September 1, 2026, the property officially closed escrow for 5.4 million dollars.
On September 20, 2026, public property records confirmed the final transaction closing details.
On September 22, 2026, media outlets reported the mansion sale details to the public.
On September 24, 2026, real estate analysts evaluated the modest transaction profit margins.
On October 1, 2026, market experts expect celebrity real estate trends to remain steady.

News Intelligence

Immediate US impact: Local California luxury housing markets note steady high-profile property pricing corrections.
Possible long-term US impact: Suburban Los Angeles residential valuations will reflect shifting celebrity buyer demand trends.
Most affected groups: Encino luxury real estate investors, luxury homebuyers, and regional property agents.
Reader priority: Readers should prioritize verified property deed registries over speculative celebrity gossip reports.

Media Bias

Articles Published:: 22
Right Leaning:: 3
Left Leaning:: 3
Neutral:: 16

Explain Framing

Left: Media framed the sale through celebrity lifestyle and housing updates. Center: Reports focused strictly on property transaction figures and real estate metrics. Right: Outlets highlighted the steep price drop from the original list figure.