A husk of a home ravaged by fire in San Jose just sold for more than $100,000 over its asking price — less than a week after it went on the market.
Realtor Holly Barr told KTVU that the value is in the 5,800-square-foot lot where the home sits, and not in the house itself.
"They did leave it standing so you can remodel it versus tearing it down," she told the TV station.
Barr told the East Bay Times that the sale is pending and she couldn't reveal the exact price until the house closes in about 10 days. She also told the paper that she received six offers on the house — all were higher than the asking price of $799,000, and all were in cash.
The average price of a single-family home in Santa Clara County is $1.4 million, according to Fortune. In March, a two-bedroom, one-bath homenear an Apple campus in nearby Sunnyvale sold for $2 million — a record $2,358 per square foot, reported KPIX. And in 2017, a fire-gutted house in San Francisco’s Bernal Heights neighborhood sold for $700,000, according to Fortune.
Adding to the list: A condemned home in Fremont recently made news for its $1.23 million price tag — more than the asking price.
Doug Goss, vice president of the Santa Clara County Association of Realtors, told The San Francisco Chronicle that home prices have risen 18 percent in the past six months in the county, crediting the rise to low inventory and high demand.
“You have these clients who you are like, ‘Wow, you are really paying premium for that home,’ and then three months later what they paid is a deal,” he told The Chronicle.