Santa's North Pole home has jumped in value again! St. Nick's estate is valued at $764,389 and Zillow, where the home is listed, predicts that the 2,500-square-foot home will appreciate 6.9 percent next year.
Related: Santa Claus’ Home Jumps in Value
Built in the 1800s, much of the home's spike in value can be attributed to a recent remodel. The three-bedroom, two-bathroom log cabin now boasts a gourmet kitchen with hot cocoa on tap, as well as a new floor-to-ceiling fireplace constructed using river rocks.
These features add a modern touch to the estate's otherwise classic look; however, there are other details outside the main home that are just as impressive, including a toy workshop and stables for the reindeer, as well as a garage for Santa's sleigh.
"We're excited to let kids around the world get a firsthand look at how Santa lives when he's not out delivering presents," said Zillow Brand President Jeremy Wacksman.
In order to calculate the value of Santa's home, which is currently off the market, Zillow looked at comparable properties that are also in remote locations. Taking the median price of those homes, they added a "Santa premium" which brought the total value of the home to $764,389.
Take a look below at some of the featured photos from the home's Zillow listing. Additionally, a photo of a tiny village on the property where Santa's elves live is also included:
To view the full listing for Santa's home, click here.