[This week, real estate appraiser, Curbed graph guru, blogger, and podcaster Jonathan Miller compares listing inventory to winter weather.]
I get the feeling that many businesses (and the local economy) have been on some sort of "pause" during the past month, perhaps partially brought about by the weather. (Full disclosure: I'm the first to admit - I LOVE snow. I've even got a snowmaker at home.) Since the market is experiencing the tightest inventory levels in 14 years, I thought I'd compare seasonal inventory trends to seasonal snowfall trends.
I looked at the average monthly snowfall accumulation collected for Central Park over the past 14 years and compared it to the average number of listings over the same period. I used NOAA data through the end of 2013 and cobbled together the 2014 January and February data through news reports. I matched the average snowfall accumulation against the average number of listings.
Although the results are probably not far from what most of us would have envisioned, I the resulting comparison was a bit tighter than I expected. February had the most snowfall on average as well as the lowest number of listings on average.
March can't come soon enough.
· Miller Samuel [official]
· All Three Cents Worth [Curbed]