The term ‘Tiny House’ or ‘Tiny Home’ has been a huge buzz word in recent times, in the real estate world. It basically refers to units below 500 square feet.
Often times, tiny dwellings have been proposed as a fix to the homeless crisis in many states.
But despite all the efforts, tiny units still make up a small percentage of the buying market.
In a study that compiled sales by square footage in ten U.S. cities, including San Francisco and San Jose, only 1.7 of homes sold in San Francisco since 2010 have met the description of ‘Tiny House’.. i.e. 500 feet or smaller.
It’s even less in San Jose and actually zero percent in the South Bay.
These numbers combined every home available for sale, from single-family houses, condos and apartments.
Property Shark further explained that nearly 70% of tiny homes sold nationwide were condos (11,801 units in total), while just 22% were houses. Townhouses were just 0.1%.