FREMONT (CBS SF) – A home in Fremont that has been condemned was recently sold for seven-figures, another sign that the Bay Area’s housing market shows little sign of cooling off.
According to the listing posted on Redfin, the home on Bruce Drive in the city’s Cameron Hills neighborhood sold for $1.23 million late last month, above the home’s original $1 million list price.
“Build your Dream Home, Beyond FIXER, Home is CONDEMNED, Enter at your own RISK,” the listing said. The seller also insisted on cash only offers.
Agents who toured the home said the home had “extensive” water damage and that no one has lived at the property for several years.
The real estate company said there were there were 31 homes sold in the same zip code sold in the last 30 days, with a median list price of $1.35 million.
As prices continue to climb, it is not the first time that a Bay Area home in uninhabitable condition has fetched such a high price.
Last week, a home for sale in San Jose that sustained major fire damage made national headlines for its $800,000 price tag.
The property was also billed as an opportunity to build a new home.
Last year, a home described as a “teardown” in Cupertino was sold for more than its $1.9 million list price. The home was reportedly on the market for less than a day.