SEATTLE, Nov. 26, 2018 /PRNewswire/ -- Santa Claus' home and state-of-the-art toy workshop at the North Pole is currently worth an estimated $764,389 after gaining 7.6 percent in value over the past year, according to Zillow®.

Santa and Mrs. Claus claimed their home on Zillow in 2016, updating the home facts on the 3-bedroom, 2-bathroom log cabin. They also added new photos, giving the world a glimpse into Santa's life the other 364 days a year.

To see Santa's home, visit zillow.com/house/santas-house/.

Initially built in the 1800s, Santa's 2,500-square foot home underwent a recent remodel to add some modern touches while retaining the classic style of the original structure.

The cabin now features a gourmet kitchen with hot cocoa on tap, and all the essentials needed to bake big batches of cookies. A new floor-to-ceiling fireplace composed of river rocks is a central focus in the cozy, yet luxurious home.

In addition to his spacious office, where Santa keeps his lists and designs new toys, Santa's property offers plenty of space for his passions, including a toy workshop, a garage for his sleigh, and stables for the reindeer.

Just outside, Santa's elves have their own village of tiny homes. Each one has its own unique design style, letting the elves live in homes that are best suited to their own personalities.

"It's always fun to get a peek inside famous and well-known houses, and Santa's North Pole home is one of the most famous in the world," said Zillow President Jeremy Wacksman. "We're excited to let kids around the world get a first-hand look at how Santa lives when he's not out delivering presents."

To ensure all children have a home for Santa to visit, Zillow Group introduced the Home Project in 2017, with the goal of supporting individuals and families who are just one paycheck, medical event or unexpected expense away from homelessness. Here is a list of local organizations in each state whose missions and work can help meet this goal: https://www.zillow.com/blog/nonprofits-homelessness/

To calculate the Zestimate of Santa's home, Zillow looked at comparable homes in remote locationsⁱ and applied a Santa premiumⁱⁱ. Santa's home has never been sold and is not on the market.

Zillow

Zillow® is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with great real estate professionals. Zillow serves the full lifecycle of owning and living in a home: buying, selling, renting, financing, remodeling and more. Zillow Offers provides homeowners in some metropolitan areas with the opportunity to receive offers to purchase their home from Zillow. When Zillow buys a home, it will make necessary updates and list the home for resale on the open market.

In addition to Zillow.com, Zillow operates the most popular suite of mobile real estate apps, with more than two dozen apps across all major platforms. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ:Z and ZG) and headquartered in Seattle.

Zillow is a registered trademark of Zillow, Inc. Zillow Offers is a trademark of Zillow, Inc.

ⁱ Zillow looked at remote locations on the coast of Alaska, as close to the North Pole as possible.

ⁱⁱ According to a FiveThirtyEight® survey, 78 percent of respondents cited Christmas as one of their favorite holidays. Given its popularity, Zillow increased the preliminary Zestimate value, which was determined by analyzing comparable homes in remote locations, by 78 percent, which is what Zillow deemed the "Santa premium."

SOURCE Zillow, Inc.