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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10626 E Palo Brea Drive Scottsdale, AZ 85262

$3,400,000
3 Beds
3.5 Baths
4,160 SqFt
Status Active
MLS # 6761265
Property Type Single Family Residence
Price Type --
This stunning, timeless residence in Turquoise Ridge is nestled on a private cul-de-sac along a serene greenbelt, offering sweeping views of Cochise golf course, city lights, and both sunrise and sunset. Santa Fe accents add warmth and charm to this beautifully designed home, where style meets comfort at every turn. With GOLF MEMBERSHIP available to the exclusive Desert Mountain Club, you'll enjoy world-class courses and luxury amenities just moments away.Inside, the open-concept layout flows seamlessly from the gourmet kitchen to the spacious Great Room, featuring rustic beams, soaring ceilings, and expansive windows that flood the home with natural light, framing breathtaking desert vistas. The kitchen is a chef's dream, complete with high-end appliances, custom Alder cabinetry, and a convenient serving window to the outside pool patioperfect for entertaining. The office is beautifully designed, ideal for working from home, while the oversized three-car garage provides ample space for vehicles and storage, including a wine cellar. The home boasts three luxurious suites, each with its own private patio for quiet relaxation. The large primary suite has direct access to the pool and spa, offering the ultimate retreat. Multiple patios provide additional areas for guest entertaining, while the sun-soaked backyard, with a sparkling pool and shaded al fresco dining space, invites you to bask in the Arizona sunshine. For those seeking the best views, the upper patio delivers panoramic vistas, showcasing vibrant sunsets and the twinkling cityscape. This is a home where every detail has been thoughtfully crafted for both elegance and functionality, making it the perfect desert escape.

39877 N 107th Way Scottsdale, AZ 85262

$3,400,000
3 Beds
3.5 Baths
3,050 SqFt
Status Active
MLS # 6769254
Property Type Single Family Residence
Price Type --
GOLF MEMBERSHIP AVAILABLE. For those who seek unparalleled luxury and craftsmanship, this home offers a complete visual and sensory experience, where every corner reveals beauty and artistry. Designed by Bing Hu and masterfully reimagined by Aesthetic Interiors & Design, this residence is a testament to refined design and meticulous attention to detail. Nestled in the prestigious Desert Mountain community, this home seamlessly blends timeless architectural integrity with modern luxury. Upon stepping through the grand glass pivot door, you're immediately captivated—not just by the striking chandelier, but by the sense that everywhere your eye lands, beauty unfolds. From the rich tones of custom walnut cabinetry to the sleek finishes of satin granite countertops, every detail in the home has been curated with an artistic vision. The open, airy layout flows effortlessly from one space to the next, showcasing a thoughtful balance of rich blacks and warm browns. These materials complement the serene surroundings while adding a modern edge that speaks to the home's luxury. In every room, there's a sense of cohesion and careful design,nothing is out of place, and yet, each space feels distinct. Outdoors, the visual splendor continues. The fully remodeled pool and spa with pebble sheen & LED light show, completed with a serene waterfall feature, create a private oasis, while updated landscaping enhances the natural beauty of the desert environment. The outdoor living area complete with a built-in BBQ, & gathering spot around the 5-foot linear gas fire pit, while listening to your favorite tunes through the indoor/outdoor Sonos system, extends the elegance and functionality of the home. Additionally, this home is ready for you to move right in fully furnished with exquisite RH pieces and styled with a designer's touch. A transferable Desert Mountain golf membership adds to the allure, providing access to one of Scottsdale's most prestigious golf communities. This home is not just a remodel; it is a complete transformation of Bing Hu's original architectural vision, offering a harmonious blend of modern luxury and artistic craftsmanship. Overlooking the 9th fairway of the Apache Golf Course, it stands as a rare and stunning piece of art within one of Scottsdale's most coveted communities. Welcome to The Modern Hu. - A home, a lifestyle, a masterpiece. Entire Home, Landscape, Pool has been updated. See documents tab for a detailed list. See video and 3D Matterport Video in photos.

6645 W Leonard Lane Flagstaff, AZ 86001

$3,400,000
2 Beds
2.5 Baths
2,984 SqFt
Status Active
MLS # 6778387
Property Type Single Family Residence
Price Type --
Discover your dream mountain retreat with breathtaking views of the San Fransisco peaks! This luxury log cabin, designed by Rocky Mountain Log Homes, features stunning 12'' Western timber logs--no dry wall in sight! The owner/builder spared no expense with quality details throughout. With two bedrooms, 2.5 baths, and a spacious 540 sq ft loft as an extra sleeping area, this home is perfect for family getaways. Enjoy a chef's kitchen with Bertazzoni stainless appliances, granite countertops, a gas stove, and a cozy breakfast bar. Relax by the wood- burning fireplace or unwind in the soaking tub. Located off Snowbowl Road, just minutes from Flagstaff and Snowbowl Ski Resort!

4106 E San Miguel Avenue Phoenix, AZ 85018

$3,400,000
4 Beds
3.5 Baths
3,844 SqFt
Status Active Under Contract
MLS # 6748744
Property Type Single Family Residence
Price Type --
Blue Sky's newest build in the coveted Marion Estates is ready for its big reveal! Buyers will be wowed by each detail of the property, which features a Lutron smart home control center that services lights, TVs, music, a security system and shades, all from the touch of a button. The thoughtful floorplan contains four bedrooms, including two spacious suites and a flex room. The entertainer's kitchen showcases Energy Star top-rated appliances, custom cabinetry and a generous kitchen island. The outdoor ambiance, which includes a rooftop patio, will captivate owners and guests alike with landscape design by Creative Environments that boasts a sparkling pool, spa, built-in BBQ and an expansive fire pit. Plus, it's impossible to miss the stunning views of Camelback Mountain & Piestewa Peak

4849 N Camelback Ridge Road Scottsdale, AZ 85251

$3,395,000
2 Beds
3 Baths
2,294 SqFt
Status Active
MLS # 6681501
Property Type Apartment
Price Type --
This unique loft style home features 10' ceilings in the living area with spacious indoor/outdoor living and a lower garden/yard. This home is exceptional with its soaring ceilings and phenomenal views of Camelback Mountain. Featuring 1 bedroom, 2 full baths, a den and 2 reserved parking spaces. Tucked at the base of Camelback Mountain, Ascent is a new, private gated residential enclave adjacent to The Phoenician Resort - one of Arizona's premier luxury resorts. Home designs feature contemporary architecture integrating warm, natural materials, expansive windows, stacking door systems opening to a large outdoor patio with fire feature and BBQ Thoughtfully designed by Nelsen Architects and Vallone Interior Design. Luxury finishes include exquisite Bulthaup Kitchens, hardwood floors, .....

11142 N Viento Court Fountain Hills, AZ 85268

$3,395,000
3 Beds
3 Baths
4,100 SqFt
Status Active
MLS # 6762634
Property Type Single Family Residence
Price Type --
This property is the perfect soft contemporary, empty nester, ONE LEVEL home you've been waiting for. Absolutely captivating and unobstructed airliner views from Four Peaks, to the Fountain to Camelback Mountain and city lights galore! This tastefully designed ridgetop 2022 build is a manageable and beautiful 3 bedroom, three bathroom open concept (great room) layout perfect for those seeking a fabulous entertaining space without superfluous square footage. Gorgeous kitchen and finishes, with a stunning 20-foot beamed ceiling and 20' retractable slider in the great room for views and indoor/outdoor living. See the 2-car garage and a massive 35' deep RV / boat garage perfect for the toys. The travertine pool deck, hot tub and negative edge pool maximize the sunset view experience.

6230 E Calle Del Norte -- Scottsdale, AZ 85251

$3,395,000
4 Beds
3.5 Baths
3,962 SqFt
Status Active
MLS # 6770883
Property Type Single Family Residence
Price Type --
This beautiful sprawling ranch has a perfect open floor plan and loads of charm and character. The upscale island kitchen has double ovens, double dishwashers, warming drawer, custom cabinetry, and a breakfast bar, the great room is lined with french doors creating a bright sun filled space, the formal living and dining rooms are great for intimate family gatherings as well as large scale entertaining, there's a fantastic custom built home office, and the impressive primary suite has an extra large bath. Sitting in a highly sought after Arcadia neighborhood, the oversized lot houses a gorgeous pool, built-in barbecue, large covered patio, and super mature, lush grounds. This home is wonderful as is, yet it has endless potential to go to the next level!

19947 N 94th Way Scottsdale, AZ 85255

$3,395,000 - 5Br/5Ba -  for Sale in La Strada, Scottsdale
Open House
$3,395,000
5 Beds
4.5 Baths
5,702 SqFt
Status Active
MLS # 6758877
Property Type Single Family Residence
Price Type --
LOCATION & VIEWS. Enjoy luxury living in the highly desired gated community of La Strada : one of Scottsdale's best-kept secrets adjacent to DC Ranch. Next to Market Street and minutes from all of North Scottsdale's best dining and hot spots, golf, hiking or biking trails. EXQUISITELY REMODELED. Most recently, a full-remodel of the primary bathroom & closets. All new Wolf appliances and a large, workable kitchen is great for the chef or novice cook. Remarkable home design with impressive resort style outdoor living spaces. Expansive glass pocket doors and wall of elegant French doors paired with soaring cathedral ceilings with a grand living area allows for seamless indoor/outdoor luxury living & effortless entertaining. All while enjoying the fabulous view of the McDowell Mountains.

8537 E Los Gatos Drive Scottsdale, AZ 85255

$3,390,000
5 Beds
4.5 Baths
4,590 SqFt
Status Active Under Contract
MLS # 6714679
Property Type Single Family Residence
Price Type --
Experience luxury living in the exclusive gated community of Los Gatos, North Scottsdale. Designed by renowned builder Geoffrey Edmonds, this home features a charming front courtyard and a meticulously crafted floor plan that provides an open and flowing main living space, ideal for daily living and entertaining friends and family. The light-filled interiors boast expansive windows with views of the landscaped backyard. The large eat-in kitchen is equipped with wood floors, wood beams, an island with a sink, extensive granite countertops, six-burner gas range, side-by-side refrigerator and freezer, and a warming oven, all seamlessly connecting to the family room with a fireplace. A formal dining room offers additional dining options. The principal suite, located apart from the ... three guest bedrooms, includes a sitting area with a fireplace. A separate casita with a refrigerator and microwave enhances guest privacy. Large multi panel glass doors lead to patios, both covered and uncovered, perfect for Arizona's outdoor living lifestyle. The sprawling backyard features lush green grass, a pool with a water feature, a spa, an outdoor kitchen with a built-in BBQ and refrigerator, and a gas fire pit. The north/south orientation boasts a panoramic view of the McDowell Mountains and captures sunsets and city lights.

10629 E Troon North Drive Scottsdale, AZ 85262

$3,380,000
5 Beds
7 Baths
7,443 SqFt
Status Active
MLS # 6666657
Property Type Single Family Residence
Price Type --
Welcome to your dream oasis in the heart of the luxurious gated community of Talus at Troon North. This stunning Italian-inspired Custom Home is a masterpiece of architectural elegance and timeless design. Nestled on an expansive ~1-acre corner lot, this home enjoys the utmost privacy within a serene cul-de-sac setting. As you approach the residence you are greeted by a grand gated entry courtyard adorned with two majestic fountains and lush landscaping, setting the tone for the opulence that awaits inside. With a spacious 7,443 SF of living space, this five-bedroom, seven-bath estate offers an impressive array of features and amenities. The main level of the home boasts a functional & well-thought-out floor plan. Three generous bedrooms PLUS 420SF Casita plus Office (CLICK ''MORE'')... Four bedrooms on main level plus a stunning ensuite office w/ closet, private patio and calming water feature, all ensure ample space for family and guests. The upstairs area is dedicated to entertainment, featuring a media/game room with an exterior balcony that provides breathtaking views. This upstairs compound has bath, deck, closet & kitchenette= BR5. For those seeking additional privacy, an ensuite guest casita with a kitchenette, closet and private entrance can be found off the charming front courtyard. This home is a paradise for those who love to entertain. The kitchen seamlessly connects to the family room, complete with a wet bar and convenient access to the wine cellar, which is large enough to accommodate a tasting table. The kitchen itself is a chef's dream, featuring top-of-the-line appliances, including a Viking gas cooktop, two Wolf wall ovens, two Asko dishwashers, three sinks, and dual Sub Zero fridge/freezers. The master suite is a sanctuary of luxury, occupying its own private wing of the home. It includes a cozy sitting room with a fireplace, a sumptuous bathroom highlighted by a sunken jetted tub framed with Cantera stone columns and an inviting fireplace. Additionally, there is a safe room and even a hookup for a washer/dryer in one of the three walk-in closets, providing ultimate convenience. Every inch of this residence exudes elegance and sophistication. It is loaded with first-class amenities, including fresh interior paint and new carpet, a domed entry ceiling, an exotic pool and spa surrounded by travertine pavers (recently refinished), a three-car garage with an extra detached bay for a total of four car garages, and a total of five fireplaces throughout the home for added warmth and charm. Cantera stone accents adorn both the interior and exterior, while polished travertine flooring and electronic shades add to the overall sense of luxury. This home is simply impressive and offers a lifestyle of grandeur, elegance, and sophistication. Don't miss the opportunity to make this exquisite Italian-inspired residence your own, and experience the epitome of luxury living in the exclusive Talus at Troon North community.

6436 E Clinton Street Scottsdale, AZ 85254

$3,371,250
5 Beds
5.5 Baths
5,071 SqFt
Status Active
MLS # 6716201
Property Type Single Family Residence
Price Type --
NEW from Thomas James Homes with an opportunity to select some interior finishes during early stages of construction! This house has a great address, great schools and great views. Sitting in the highly desirable Scottsdale neighborhood, this beautiful 5 bedroom, 5.5 bathroom is the definition of exceptional design. Wide plank wood flooring, decorative ceiling and wall treatments, including beams and wood paneling, impressive custom lighting, outstanding millwork, stone and tile accents, a gorgeous floor to ceiling fireplace, shaker cabinetry and a 4-car garage are just a sampling of the outstanding finishes going into the home. The large single story open concept floorplan is expertly crafted with a large interior courtyard leading to the home's entrance. Inside you'll find a large great room and luxury kitchen joined by a large quartz countertop island. The grand suite hosts a large his and hers walk-in closet and a spa like bathroom with a freestanding soaking tub and walk-in shower. The secondary bedrooms throughout the home have en-suite bathrooms. In addition to the bedrooms, you'll find ample added living space with a private office and a kitchen prep area adjoining a bonus room and a game room. Home will feature fully landscaped front and back yards with a pool and spa, providing great Arizona outdoor living space. Expected completion in Summer of 2025.

5215 E Lafayette Boulevard Phoenix, AZ 85018

$3,369,000
5 Beds
5.5 Baths
5,209 SqFt
Status Active
MLS # 6775398
Property Type Single Family Residence
Price Type --
Welcome to a rare mid-century modern retreat on a huge 36,440 sq. ft. lot updated to todays standards. This 4,305-square-foot main house, plus an additional 904-square-foot guest house, offers four bedrooms and 4.5 baths in the main home, brand new roof and high-efficiency AC units, both with a 10-year warranty. The open layout, floor-to-ceiling glass walls, and iconic architectural lines draw in natural light and frame stunning views of entire Camelback Mountain. The guest house is equipped with a full bath, kitchenette, and private entrance. The expansive backyard is ready for gatherings, with a bocce ball court, sand volleyball court, peaceful pavilion and firepit. Original Architecture done by George Kenneth Rubel.

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