The tiny house on Quebec Street in Oshawa garnered a ton of interest just two years ago, and despite a climbing real estate market, the attraction is expected to be there once again this go around.
“These little houses are just a little gem,” said homeowner Chris Arthur.
Arthur bought the 253-square-foot Oshawa home in March 2019, picking it up for $200,000.
“Some people collect fancy cars, businessmen collect houses,” said Arthur.
Arthur’s never lived in it but he’s maintained the tiny house for renters. In the past two years, he’s made some cosmetic changes.
“We took down a big tree because the whole backyard when we purchased it was mud, and we re-sod the whole backyard, just put some new siding on the side — there’s not much to change,” Arthur said.
Now, he’s decided to put it back on the market, having recruited a realtor after being overwhelmed by attention on Kijiji..
“I think we got 100 replies in two days. Visits were 600-plus,” said Arthur.
The house on Quebec Street hit the market Wednesday for almost $350,000.
“You don’t find too many homes anymore under $400,000,” said Arthur.
Steven Slinn has been a realtor in the region for the past four years. He helped Arthur buy the property, and now he’s helping him sell it.
“The market in Oshawa for a single detached house is up 38 per cent in the last 12 months, 53 per cent since Chris has purchased it,” Slinn explained.
“Chris reached out to me and said he wanted to give an opportunity for either a first-time home buyer or somebody trying to get into the market.”
“I’m seeing properties listed for $700,000 selling for $950 (thousand) to a million,” said Michael Watson, president of the Durham Region Association of Realtors.
Watson says the market is hot right now, with the average selling price at almost $900,000. He expects to see the tiny house go for over-asking.
“I can see it hitting four ($400,000). I’ll be shocked if it hits five (500,000), but since January, I’ve been shocked in this market. I would put nothing past getting over four for sure,” said Watson.
Since the property was listed 24 hours ago, there’s been a lot of interest — so much so that Slinn says they won’t be looking at offers until March 22.
“And it’s not that we don’t think we could sell it prior to that, we just want to make sure we can give the number of people that are going to be interested in it an opportunity to get out and take a look at it,” said Slinn.