The Little Blue House is priced the way it is because of the location. Alberta is very walkable, near an excellent co-op, and near a lot of great restaurants. Try Seastar Bakery while you're in the area, and don't miss Eem for excellent Thai food and cocktails.
The house itself is more like an apartment: only one level, two bedrooms, and a modest kitchen with a mini fridge, double burner induction stove top. Nothing too fancy, like I said the price seems to be mostly because of the location.