With the Grammys and Oscars over, celebrities can now focus on a similarly rare commodity: real estate.

Forget the entertainment industry's highest honors: the houses and land that celebrities have amassed during their career are aging far better than the statuettes that no one will remember they won a decade from now.

Existing home sales in January increased 3.8% from the same time last year. The median existing home sale price of $228,900, meanwhile, is up 7.1% since the same time last year. That's the largest year-over-year price increase since January of last year, and it's thanks to a relatively low supply of 1.69 million existing homes. That's 7.1% fewer than there were last year, and the 3.6-month supply is well below the six months that the National Association of Realtors deems healthy.

"Market challenges remain, but the housing market is off to a prosperous start as homebuyers staved off inventory levels that are far from adequate and deteriorating affordability conditions," says Lawrence Yun, chief economist for the National Association of Realtors. "Competition is likely to heat up even more heading into the spring for house hunters looking for homes in the lower- and mid-market price range."

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That isn't great news for the 33% of all buyers who are first-time home buyers -- up from 32% at the same time last year. With roughly one out of every five home sales being paid for in cash, house flippers are taking a whole lot of the best deals for themselves.

Celebrities aren't immune to the fluctuations in the market, with many of their homes seeing astronomical price hikes during the short time they've owned them. With help from Zillow-owned real-estate site Trulia, we took a look at the celebrity housing market and found ten examples of celebrities who are about to make a bundle in this incredibly hot housing market:

Editors' pick: Originally published March 24.