What happens when Netflix builds a massive studio in suburban New Jersey? It sends local house prices through the roof.

NJ.com reports a five-bedroom residence in Little Silver, N.J. traded hands last week for $2.6 million — a hearty $500,000, or 24%, above its $2.1 million asking price.

The reason? It’s “the Netflix effect,” according to local real-estate professionals. The streaming giant is building a $900 million studio in Monmouth County — where Little Silver stands — which has fueled demand for living there, and prices to boot.

“I did expect it to go for over asking,” Stacie Bender, of Compass, told the outlet of the home, which stands about 50 miles from Midtown Manhattan. “I thought it would go for $2.3 million or $2.4 million. I was thrilled for the clients when it went for $2.6 million. And we had a strong back-up offer.”

However, a Netflix executive is not the new owner of this home.

Bender added the Netflix effect is driving even more competition in a local market where inventory is scarce. That said, the property lured in 40 groups to two open houses after listing on March 25. There were also around 40 private showings.

The first offer came in the day after showings began. Within six days of hitting the market, it entered attorney review.

“Originally people thought Netflix was going to bring more support staff. But we’re seeing job listings with salaries of $750,000-plus … and people looking for homes over $2 million,” Bender told the publication.

Beyond the forthcoming Netflix studio, this house also stands near prime Jersey Shore destinations, such as Long Branch and Asbury Park.