The building cost itself may exceed $900k easily as of now. There will be someone who may have money looking for nice home. People are there to buy single story, newer home at 1/2 acre lot nice school district. There are plenty of company owners having such money, they may buy.
Above all, this home is at hill side, def high demand expensive homes.
I do not have any real comparable in this area except one my colleagues looking home at this area 1M level, but he never finds a good home at this zip code for the price.