A Tale of Two Markets: Inventory Mismatch Paints a More Detailed Picture

A Tale of Two Markets: Inventory Mismatch Paints a More Detailed Picture | Simplifying The Market

The inventory of existing homes for sale in today’s market was recently reported to be at a 3.6-month supply according to the National Association of Realtors latest Existing Home Sales Report. Inventory is now 7.1% lower than this time last year, marking the 20th consecutive month of year-over-year drops.

Historically, inventory must reach a 6-month supply for a normal market where home prices appreciate with inflation. Anything less than a 6-month supply is a sellers’ market, where the demand for houses outpaces supply and prices go up.

As you can see from the chart below, the United States has been in a sellers’ market since August 2012, but last month’s numbers reached a new low.

A Tale of Two Markets: Inventory Mismatch Paints a More Detailed Picture | Simplifying The Market

Recently Trulia revealed that not only is there a shortage of homes on the market in general, but the homes that are available for sale are not meeting the needs of the buyers that are searching.

Homes are generally bucketed into three groups by price range: starter, trade-up, and premium.

Trulia’s market mismatch score measures the search interest of buyers against the category of homes that are available on the market. For example: “if 60% of buyers are searching for starter homes but only 40% of listings are starter homes, [the] market mismatch score for starter homes would be 20.”

The results of their latest analysis are detailed in the chart below.

A Tale of Two Markets: Inventory Mismatch Paints a More Detailed Picture | Simplifying The Market

Nationally, buyers are searching for starter and trade-up homes and are coming up short with the listings available, leading to a highly competitive seller’s market in these categories. Ninety-two of the top 100 metros have a shortage in trade-up inventory.

Premium homebuyers have the best chance of less competition and a surplus of listings in their price range with an 11-point surplus, leading to more of a buyer’s market.

“It leaves Americans who are in the market for a home increasingly chasing too fewer options in lower price ranges, and sellers of premium homes more likely to be left waiting longer for a buyer.”

 Lawrence Yun, NAR’s Chief Economist doesn’t see an end to this coming any time soon: 

“Competition is likely to heat up even more heading into the spring for house hunters looking for homes in the lower- and mid-market price range.”

Bottom Line

Real estate is local. If you are thinking about buying OR selling this spring, let’s get together to discuss the exact market conditions in your area.  Give me a call – J.P. Cook – 602-320-4253.

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4526 E Vista Bonita Drive Phoenix, AZ 85050

$1,300,000
4 Beds
3 Baths
3,342 SqFt
Status Active
MLS # 6780803
Property Type Single Family Residence
Price Type --
A fantastic 4 bed, 3 bath residence in Sanctuary at Desert Ridge loaded with upgrades including an OWNED solar system! Featuring a beautiful facade w/stone accents, low-care landscape, 3 car tandem garage, and a paver driveway,! Huge iron door with privacy glass leading you into the grand entry. Spacious great room & a formal dining room w/high ceilings and a giant Island, perfect for hosting a dinner party. Hone your cooking skills in the gourmet kitchen, 42'' upper cabinetry w/crown molding, a walk in pantry, granite counters, subway tile backsplash, gas cooktop and stainless steel appliances. Upstairs you will find a Large loft and e additional bedrooms. Guest bedroom downstairs has built in custom cabinetry for an amazing office. The yard has a spectacular pool, gas fireplace and turf The primary bedroom showcases soft carpet, a walk-in closet, and a lavish ensuite w/dual vanities. Also including a lovely backyard w/a covered patio, artificial turf, an outdoor fireplace, and a sparkling blue pool, this home is a dream come true! Don't miss out!

105 E Claremont Street Phoenix, AZ 85012

$1,300,000
5 Beds
3 Baths
2,984 SqFt
Status Active
MLS # 6780206
Property Type Single Family Residence
Price Type --
Nestled in the desirable North Central Corridor, this inviting single-level home offers modern comforts combined with classic appeal. Sitting in a private cul-de-sac, this home boasts a large front yard with mature trees and a peaceful sitting area. Inside, find a spacious open floor plan with updated kitchen and living areas. With 4 bedrooms, 3 bathrooms, plus a cozy casita that adds 121 sq ft, there's ample space for all. The sizeable backyard is a true oasis, featuring play-pool updated in 2021, water feature, and new equipment. An expanded covered patio with Travertine tile is perfect for entertaining or relaxing. Additional features include split floorplan, new concrete tile roof, driveway with pavers, 2 fireplaces, no HOA, proximity to Bridal Path and many coveted schools, and opportunity to add your personal touch. Well-priced and in a prime location, this home is a remarkable find.

3333 N 87th Street Mesa, AZ 85207

$1,300,000
4 Beds
3.5 Baths
3,503 SqFt
Status Active
MLS # 6781067
Property Type Single Family Residence
Price Type --
Gorgeous Santa Fe style home offering elegant southwest living with Mountain Views. At over 1900 feet elevation and located high in the desert uplands/foothills bordering Las Sendas. Very quiet and private neighborhood of million-dollar homes. No HOA. Incredible views with 1.3 acres. Lots of space for your RV or toys. The property features 3503 sq ft of living space. Extra deep garage and large storage room. The kitchen features hickory cabinets, granite countertops, two built-in ovens, raised dishwasher, and a large walk-in pantry. The Master bathroom offers dual sinks, soaking tub, walk-in shower and large walk-in closet. 10' ceilings throughout, 8' knotty alder interior doors. Two covered balconies front and rear upstairs which provide beautiful Valley and Mountain view Super large rear patio, outside sitting area with fireplace. Entire house painted in 2021. FEATURES: Higher Elevation - 1,905 feet (City of Mesa average elevation is 1,263 feet) Large lot - 1.3 acre County Island Quiet neighborhood No HOA Santa Fe style Southwest exposure Surrounded by Mountain views Valley views - day and night Well - new water tank and well pump and tank pump 5 years ago - not shared Two covered balconies - front and rear Premium security screen doors all around - main level and balconies 10-foot ceilings throughout 8-foot interior doors Round corners Extra deep 3 car garage - Cabinets in garage 3 A/C units - 1 new 6 years ago - 1 new 3 years ago 3 1/2 bathrooms - all with walk-in showers Granite counters in kitchen Raised dishwasher Brand new GE range/oven Appliances stay - refrigerator, washer and drier two water heaters - one replaced 4 years ago new luxury vinyl plank floors and new carpeting 8 foot solid wood doors Hickory cabinets throughout Sunscreens New master bath soaking bathtub Upgraded fans in every room - kitchen fan is remote control Video projector and screen in family room - speakers in ceiling Surround speakers in master bedroom Huge walk-in pantry Two built-in microwave ovens Two separate ovens Super large rear patio - 15 feet x 70 feet New Master Spa hot tub Front patio sitting area Parking for three cars at side of garage/or RV parking Outside sitting area with fireplace Foam roof with tile features - foam roof re-coated in 2024 Entire house painted in March 2021 Water softener Reverse osmosis system Copper plumbing Lot engineered with culverts, grading and stones Topographical surveyed Area for additional driveway and parking from Russell Street 20 minutes to Sky Harbor 15 minutes to ASU 5 minutes to MCC East 10 minutes to Red Mountain High School 15 minutes to Saguaro Lake/Salt River

10331 E Starion Avenue Mesa, AZ 85212

$1,300,000
6 Beds
4 Baths
4,210 SqFt
Status Active
MLS # 6783724
Property Type Single Family Residence
Price Type --
Welcome to luxury living in the highly sought-after Eastmark community, just steps from The Mark and Great Park! This meticulously maintained home offers stunning curb appeal and a range of high-end upgrades that will make you fall in love as soon as you walk in. The coffered ceilings in the formal living room, dining room, and primary suite add a touch of elegance to the open layout. The chef's kitchen is an entertainer's dream, featuring beveled granite countertops, ample cabinetry, a beautiful tiled backsplash, dual wall ovens, and GE Profile appliances. A morning kitchen with a sink, disposal, wine fridge, and overhead glass cabinets adds both style and functionality, making hosting a breeze. Upstairs, an expansive loft awaits, leading you through French doors to the primary suite, where coffered ceilings and abundant natural light make it a true retreat. The luxurious primary bath includes granite countertops, dual sinks, a separate tub and shower, and an impressive walk-in closet. The additional five bedrooms are perfectly appointed; there is even a bedroom off the loft that serves as an additional primary suite with its own ensuite bathroom and walk-in closet, another features a private balcony, and 3 more include walk-in closets for optimal storage. This home is packed with modern conveniences, including a central vacuum, a fully owned security system with sensors on every door and window, a 50-gallon hot water heater, new carbon dioxide sensors, Cat 5 connections throughout, and a whole-house water filtration system. The 4-car tandem garage is equally impressive, with epoxy flooring, overhead storage racks, a NewAge cabinet system with a bamboo workbench, and a stainless steel sink. Step outside to your backyard oasis, featuring 2,000 square feet of travertine tile on the extended patio and around the 18x36 pebble tech pool with an integrated 7x7 heated spa. Enjoy the convenience of the Pentair wireless control system controlled through the app, while the pergola with a plumbed gas Kokomo grill, refrigerator (which is included), remote control lighting, and outdoor Bluetooth speakers makes this the ultimate space for entertaining. Lush turf completes the picture-perfect yard. Eastmark offers a resort-style lifestyle, with luxurious pools, splash pads, numerous parks, Steadfast Farm, and the state-of-the-art clubhouse, The Mark, hosting year-round events and games. This is a rare opportunity to own a truly exceptional homemake it yours today!

7538 E Tuckey Lane Scottsdale, AZ 85250

$1,300,000
2 Beds
2 Baths
1,989 SqFt
Status Active
MLS # 6787482
Property Type Single Family Residence
Price Type --
Just WOW! This marvelous home in the coveted 7600 Lincoln harmoniously blends contemporary elegance & optimal functionality! The sheer beauty & attention to detail are found inside! Discover an inviting foyer, travertine flooring, crown moulding, & plantation shutters. Imagine yourself cozying up by the floor-to-ceiling stone fireplace or opening the French doors for fresh air in the spacious living room. Gourmet eat-in kitchen comes complete w/recessed lighting, a plethora of cabinetry, a butcher block island, desk area, granite counters & backsplash, & top-of-the-line SS appliances such as a wall oven, range hood, & cooktop gas. Owner's retreat is a true gem, showcasing plush carpet, direct outdoor access, & an ensuite comprised of dual sinks, soaking tub, & a walk-in closet. Flexible den provides the perfect space for an office or entertainment room. In the large backyard, you will have a covered patio, built-in bench, & a garden fountain. Walk to the Scottsdale Bike Path right outside the gate to 7600 to bike or walk all over Scottsdale. The 7600 community area features a Country Club setting with the community pool, spa, pickleball courts, tennis courts and even a basketball hoop. Located just minutes away from shopping and restaurants in Old Town Scottsdale too. Don't let this one-time opportunity slip by!

6757 E Paradise Lane Scottsdale, AZ 85254

$1,300,000
5 Beds
3 Baths
2,759 SqFt
Status Active
MLS # 6782645
Property Type Single Family Residence
Price Type --
Currently a high producing STR. Great location next to Kierland Golf Club and Kierland Commons. This property boasts a stunning resort style backyard for entertaining w/ pool & spa, putting green, fire table, and new outdoor furniture. The interior offers an open kitchen that transitions into a large living room. Opposite of the living room area is an updated game room with billiards, PAC-MAN, and foosball. Tons of upgrades performed in 2022, as well as trendy interior design concepts to keep this home a top producing STR!

8310 E Devonshire Avenue Scottsdale, AZ 85251

$1,300,000
4 Beds
3 Baths
1,922 SqFt
Status Active
MLS # 6786600
Property Type Single Family Residence
Price Type --
Beautifully furnished and rare 4-bedroom (including 2 primary suites), 3-bathroom home located in the heart of Old Town Scottsdale. Currently operating as a successful Airbnb, this property features an open and bright floor plan with split bedrooms for added privacy. Step through the custom tri-fold door to your private backyard oasis, perfect for relaxation or entertaining. Enjoy the sparkling pool, new hot tub, pergola with a firepit, and a custom Scottsdale mural. Conveniently situated just minutes from Scottsdale's Spring Training stadium, premier dining, and upscale shopping. Additional upgrades include a brand-new AC unit. This property is fully equipped for Airbnb, including future bookings, making it an exceptional investment opportunity!

3414 E Virgil Drive Gilbert, AZ 85298

$1,300,000
5 Beds
3.5 Baths
4,239 SqFt
Status Active
MLS # 6785032
Property Type Single Family Residence
Price Type --
Welcome to your dream home! This incredible basement home overlooks the 14th green of Seville Golf and Country Club. Spanning 4,239 sqft, this home features five bedrooms, three and half baths, an office and plenty of storage. The kitchen is a masterpiece of design and functionality, boasting wood cabinetry, granite counters, a large island and a walk-in pantry. The main bedroom is spacious and has a spa-like ensuite with dual vanities, a soaking tub, a huge snail shower and walk-in closet. The rest of the main floor has two additional bedrooms, a full bathroom and large hall closet. The basement stays cool during the summer and with the kitchenette/bar, makes it the perfect place to entertain while watching movies or the big game. The basement also has two spacious bedrooms and one full bathroom. The backyard is an oasis with plenty of space to entertain with a covered patio, built in bbq, heated pool and spa, all with amazing golf course views. THIS HOME IS A DEFINITE MUST SEE!

11615 E Terra Drive Scottsdale, AZ 85259

$1,300,000
3 Beds
3.5 Baths
2,843 SqFt
Status Active
MLS # 6787459
Property Type Single Family Residence
Price Type --
Nestled in a Guard gated community with community tennis, pickleball, walking paths, a spa, pool and more. Kitchen boasts granite countertops with new appliances, bar area opening to a family room with a fireplace. The primary suite offers a bath tub, dual vanities, a walk-in shower, a walk-in closet, and more. Backyard includes a pool, lawn area, gas stub up for a bbq, and cool decking for summer heat. Just minutes from Scottsdale airport, Basis school, and more.

1813 E Mallory Street Mesa, AZ 85203

$1,300,000
5 Beds
4 Baths
3,964 SqFt
Status Active Under Contract
MLS # 6768387
Property Type Single Family Residence
Price Type --
Welcome to this CHARMING 5-bedroom custom home in NE Mesa, where classic elegance blends seamlessly with modern comforts. Overflowing with character, this home invites guests into formal living & dining rooms with large windows that offer picturesque views of the expansive front porch and yard. Everyday living is a delight in the open & airy spaces featuring a family room with a brick fireplace, spacious dining area & beautifully remodeled kitchen(2020) with white cabinetry, quartz countertops, huge island, built-in refrig/freezer & double ovens. The backyard is designed for entertaining with a large covered patio, fenced diving pool, putting green & built-in BBQ. This rare find with NO HOA offers a perfect blend of charm, modern upgrades, & functional living spaces. The home's split floor plan includes 3 bedrooms and 3 baths on the main floor (including the primary suite) and 2 bedrooms and 1 bathroom upstairs. The spacious laundry room features a built-in desk for work or crafting, laundry sink, 2nd pantry, and extra space for an additional refrigerator or freezer. An extended length garage offers built-in cabinetry and a fantastic workshop. The property also features an RV gate plus a separate storage room above the garage which could be reimagined as living space. This home features so many upgrades including: French oak luxury vinyl plank throughout the living spaces, new HVACs ('22,'23), new water heaters ('22,'24), lifetime metal roof and more! This is a truly special place to call home!

2552 E Ridgewood Lane Gilbert, AZ 85298

$1,300,000
4 Beds
4.5 Baths
4,027 SqFt
Status Active Under Contract
MLS # 6776619
Property Type Single Family Residence
Price Type --
Rarely do properties like these hit the market! Here's your chance to own a stunning country retreat in the prestigious Greenfield Acres. Picture yourself relaxing on the expansive front porch, working on projects in your sprawling garages, or hosting unforgettable poolside gatherings in your entertainer's paradise of a backyard. Perfect for car enthusiasts, this property boasts two oversized garages and ample storage with multiple sheds. Inside, the spacious yet cozy layout, paired with the warmth of natural brick, creates an inviting and timeless charm. This home is designed for making memories, blending functionality with comfort—an opportunity not to be missed!

3800 W Coyote Drive Lakeside, AZ 85929

$1,300,000
3 Beds
3 Baths
2,282 SqFt
Status Active
MLS # 6654248
Property Type Single Family Residence
Price Type --
Seller is licensed to sell Real Estate in the State of Arizona. Buyer to verify all material facts. Discover your dream escape in this White Mountain Log Cabin nestled on 5.8 acres of pure serenity. Fully fenced, the property boasts two spacious 3-car garages—one finished with a workshop and a 475 sq. ft. upstairs office. Revel in the comforts of AC/ETS, skylights, and exposed beams. An electric private gate and security system ensure your peace of mind. Tall pines, mature oaks, junipers, and native vegetation surround, creating a picturesque landscape. Enjoy the covered screened porch with lighting and fans, a large open Trex deck, and outdoor grill & entertainment areas. The metal roof, stone stem wall, and engineered drainage add durability. The property features a large established fenced garden with a drip system, offering a green oasis. Inside, find hand-crafted cherry wood cabinets, exposed granite countertops, a hammered copper sink, and quality stainless steel appliances. The vaulted T&G ceiling, custom tile work, half-log steps, and new Anderson Walnut Metal Clad Wood Windows showcase meticulous craftsmanship. Experience the luxury of a Wolf Dual-Fuel Gas Range & Hood, a private well with a water softener, and numerous custom touches throughout. This haven is close to Forest Service Land, Show Low Creek & Show Low Lake, a trail system for hiking, biking, or horseback riding, and Sunrise Ski Resort. Secluded and unique, this property offers your own piece of White Mountain Heavenan unparalleled retreat for those seeking a one-of-a-kind lifestyle. All most all furnishings will convey with full price offer.

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