Yup. We lost a bid in Norwell on a home that was pretty nice overall. Small, but only 25 years old, nice touches, a basement you could easily finish and turn into an in-law suite, and a decent sized yard.

Person that bought it paid $60K over asking and tore it down to build on the land.

When there is that much money in the market, you can sell anything.

We "lucked out" and bought as things stabilized a few months back, but no doubt that original Braintree home we saw went for $520K and was torn down, built into a much nicer property, and will be sold for $1M+.