Bruce Willis -- Bye Bye Canyons -- Hello $16 MILLION!!!

EXCLUSIVE

Bruce Willis finally dumped the house that became the albatross around his neck ... TMZ has learned.

Willis sold his Benedict Canyon estate in Beverly Hills for $16.5 million. It was a struggle ... he had it on the market for 15 months.

Good news/bad news.

Bad News first: He wanted $22 million.

Good news: He bought it for $9 million back in 2004.

Willis is something of a land baron ... he owns 2 pads in NYC, including one overlooking Central Park. He has another house in L.A. and a compound in Hailey, Idaho ... which he's been trying to dump for more than 2 years.