Is This Real Life? Noe Valley Abode Sells for 77% Over Asking

440 28th Street is a 2-bed, 2-bath, 1,057 square foot single-family home in the very lovely Noe Valley neighborhood. The property came onto the market in late May asking $989K, and it sold earlier this month for $1.756M, or 77% over asking. That's $1,661 per square foot. That's $1.756M for a little more than 1,000 square feet. The home's got good bones and has a recently remodeled kitchen and bathrooms. There's also a lower level "just waiting to be finished with great expansion potential!" Readers, how bananas is this sold price?
Update: 7/10/13 - This property was reported in error by the listing agent. They have changed the price to reflect the accurate sales price of $1,150,000.
· 440 28th Street [Redfin]