Comcially small NJ home listed for $500Kas seller tries to capitalize on extremely low inventory

A tiny house in New Jersey is making some big waves after hitting the market for the very large price of $499,000 in an apparent attempt to capitalize on the area’s extraordinarily low inventory levels—and the home’s alluring proximity to New York City.At first glance, you could be forgiven for thinking there had been a mistake with the listing price: It seems almost ludicrous that a petite one-bedroom, one-bathroom house with a square footage so small that it isn’t even featured on the listing could fetch anywhere close to half a million dollars.After all, the diminutive dwelling isn’t perched on a hilltop parcel in Beverly Hills, CA, or a waterfront lot in Palm Beach, FL.But as it turns out, its prime corner lot in the town of Bogota could prove just as appealing to the right kind of buyer.It is a classic case of scarcity driving up demand—and prices—according to Realtor.com senior economist Hannah Jones, who believes the seller is likely betting big on finding a buyer who will pay purely for the address, rather than the property itself.“Bogota and the broader Bergen County still see extremely low inventory levels, which can drive home prices higher,” she says.

“With just a handful of homes for sale, some buyers may see this as an opportunity to secure real estate in a highly sought-after area, conveniently located in the broader New York City area.”According to Realtor.com data, Bogota had just five active listings in May—down from pre-pandemic levels, which saw around 20 properties on the market in the borough at any one time.“Bergen County saw a similar scarcity of listings, with around 1,550 homes for sale in May 2026, down 62.1 percent compared to the pre-pandemic norm,” Jones adds.And while the price tag may seem enormous when compared to the pint-sized property it is attached to, it is actually well below the median listing prices for both Bogota and Bergen County, which currently sit at $700,000 and $799,000, respe...