T
he smallest home on the market in Seattle is a 223-square-foot studio condo on Capitol Hill, listed at $232,500. Broker Gerry McBarron notes that it's smaller than a postage stamp, but not as tiny as some houseboats currently for sale. The building, Homborness, was once a mix of apartments and hotel rooms, with two remaining tiny former hotel rooms still available.

    While the condo market in Seattle remains volatile, the response to this listing has been quiet, with McBarron describing it as a "narrow, shallow market." The list price works out to $1,040 per square foot, significantly higher than the median of $612 per square foot for condos and co-ops sold in Seattle last month.

    The condo market is still recovering from the pandemic's impact on urban living. According to Redfin's Chen Zhao, social distancing and remote work led many homebuyers to seek larger homes in the suburbs. Even as employers encourage workers to return to the office, condos continue to struggle. Buyers considering a tiny pied-à-terre must weigh whether it's a wise investment, especially if the long-term market looks uncertain.

    McBarron and the seller are holding out for the right buyer, who will appreciate the ground-floor unit with its small kitchenette and single sink. For now, they're waiting for someone to make an offer on this unique and compact living space.