Drew Barrymore Drops Price of Montecito Mansion

Drew Barrymore Montecito Mansion - H 2013

Drew Barrymore Montecito Mansion - H 2013

The actress recently lowered the price by $600,000, a drop of 8 percent.

Drew Barrymore’s Montecito mansion is now on the market for $6.9 million, as reported by real estate website Trulia. The price of the estate, which was listed in May for the original cost of $7.5 million, has been cut by $600,000.

First purchased by Barrymore in 2010 for $5,705,000, the luxurious Montecito property includes six bedrooms, 7.5 bathrooms, a separate guest apartment and spacious lawns that surround the two-story home. The mansion, situated in a celebrity real estate hot spot, was also the location of the actress’ private backyard wedding with beau Will Kopelman.

PHOTOS: Back to the Beach: Shorefront Real Estate Booms Once More

Barrymore joins another A-list homeowner willing to cut costs to sell.

Reese Witherspoon lowered the listing price of her Ojai ranch home for the second time earlier this year, dropping the amount from the original price of $10 million to $7.25 million. The estate, formerly owned by Million Dollar Decorator Kathryn Ireland, includes a four-bedroom main house and features three guest cottages, a barn, stables and a carriage house among other attractions.

Witherspoon’s rural property, which was featured in Elle Décor’s July issue, was listed October 2012 and is currently still on the market.