You’ve got to hand it to Zillow. Last year, the marketing zillots (as opposed to zealots) there figured a way to shanghai Santa Claus to promote its real estate listings by slapping a Zestimate on an invented house located somewhere similar to the North Pole. This year, they figured out how much value that home has gained.
Thus, the value of Santa Claus’ North Pole home increased 6.5% over the past year to $710,559, according to Zillow®.
“Santa added his 3-bedroom, 2-bath log home to Zillow last year, the company stated in a press release. “After claiming his home, he updated his home facts and added new photos, which impacted his Zestimate® home value.
“The cozy cabin, which boasts a floor-to-ceiling river-rock fireplace and a gourmet kitchen, is equipped with a hot cocoa tap and an oven with 12 different cookie settings. The 2,500-square-foot home is filled with holiday cheer year-round. This year, Santa also added photos and a 3D tour of the Elf Village.”
More marketing zillotry: “Using Zillow’s 3D technology, launched last month, the elves captured a walking tour of three tiny homes using their smartphones.
“In addition to the Elf Village, Santa’s 25-acre lot features a state-of-the-art toy workshop, garage space for an all-weather sleigh and stables for nine reindeer. Santa’s home was built in the 1800s but now features modern amenities after a 2013 remodel.
“The real estate market across the country is booming, so it’s no surprise that one of the most valuable residential properties in the Arctic rose almost 7% since last year,” said Zillow Chief Marketing Officer Jeremy Wacksman. “When Santa’s house first appeared on Zillow, a lot of kids were asking about the elves and where they live. We’re thrilled that this year, millions of kids around the world can explore not just Santa’s house in the North Pole, but also the homes of some of his most trusted helpers.”
Zillow derived its Zestimate on Zanta by looking at comparable homes in remote locations and applying a Santa premium, which turned out to be 78%. Santa’s home has never been sold and is not on the market. Zillow forecasts that the value of Santa’s home will appreciate another 7% over the next year.
