Never miss a story — sign up for PEOPLE's free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer​​, from celebrity news to compelling human interes

Gwyneth Paltrow’s 1950s house in the Lower Mandeville Canyon neighbourhood of Los Angeles has sold for $US22 million ($AU35.2 million) after seven months on the market. It’s substantially less than her original asking price of $US29,990,000 ($AU48 million).

The sale was due to Paltrow's desire to downsize, her realtor told the Wall Street Journal, now that her (and singer Chris Martin's) children, Apple and Moses, are growing up and attending college at Vanderbilt and Brown, respectively.

Less than a month after the Los Angeles wildfires threatened to destroy it, Gwyneth Paltrow’s longtime home in Los Angeles’ Brentwood area has sold for $22 million. The home,

Gwyneth Paltrow sold her Brentwood mansion for $22 million, significantly lower than her original asking price.

Hollywood actor and businesswoman Gwyneth Paltrow has sold her Los Angeles mansion for a whopping $22 million, according to The Wall Street Journal. The 8,000 sq. ft. property is located in Mandeville Canyon, an upscale area of Brentwood neighborhood.

After seven months on the market, the Oscar-winning actress and lifestyle guru has sold her Windsor Smith-designed home in the Mandeville Canyon area of Brentwood for $22 million.

Gwyneth Paltrow has sold her house after dropping the asking price from $29.99 million to $22 million. DeepSeek could represent Nvidia CEO Jensen Huang’s worst nightmare Inside Eddie Van Halen's Garage: These Are His Coolest Cars Trump signs orders making major changes to US military What are the 3 cheapest retirement cities in the US?

Gwyneth Paltrow's home in the ritzy Brentwood neighborhood in Los Angeles was threatened by the recent wildfires but ultimately untouched, and now it has sold for $22 million, reports the Wall Street Journal,