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Mariah Carey’s Atlanta mansion just had a huge price drop

Mariah Careys’ luxurious Sandy Springs mansion is still on the market. While grand and lavish, even the music icon’s 12,575 square foot mansion is not immune to the whims of this year’s crazy housing market.

According to the listing with Ansley Real Estate Christie’s International, the price for the billboard topper’s Georgia estate recently dropped from $6,500,000 to a cooler $5,995,000. While $505,000 is certainly a big price cut, Carey could still walk away from the Sandy Springs home with a hefty profit if the new price tag manages to attract a buyer.

The music icon purchased the nine bedroom, nine bathroom home for $5.65 million in November 2021.

As rising mortgage rates continue to cool the housing market, many experts are anticipating more price drops nationwide. If Carey wants to flip her Atlanta mansion for a profit, the clock is ticking.

According to Odeta Kushi, deputy chief economist at First American Financial Corporation, mortgage rates will continue to worsen until inflation recedes significantly.

“Inflation is absolutely in the driver’s seat, particularly as it pertains to mortgage rates,” she told Time. “Until we get some sustained evidence that inflation is beginning to recede, the upward pressure on mortgage rates will remain.”

At just shy of $6 million, Mariah Carey’s Atlanta mansion does have a lot to offer. The estate comes with four acres of land, including a pool, pool house and tennis courts.

“Beautifully crafted details throughout include crown moldings and millwork, intricate coffered ceilings, arched doorways, and beautiful spaces,” the home’s listing said. “A dream kitchen is the center and heart of the home and features a massive marble topped center island, ceiling-height bespoke cabinetry, a suite of premium appliances and sunny breakfast alcove. A wall of French doors floods the main living area with light and leads to the ultimate backyard complete with heated pool, pool house & entertainment pavilion, tennis court and a charming series of gardens.

“Designed to indulge, the glamorous oversized primary bedroom suite features a dressing room, private balcony, morning bar, luxe fireplace surrounded by custom built-ins, lavishly appointed bath and enormous closet with custom shelving and storage. Finished to perfection, the expansive daylight terrace level offers a state-of-the-art home theatre, workout room, private guest suite and living room with fireplace open to a large outdoor entertaining/play area.”

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