47 Years of Edmonton Statistics
Many statistics, especially real estate statistics, seem to being thrown around in the media, by realtors, brokers, economists and the like, and particularly in this apparently declining market place. Since statistics can be strongly swayed from one view point to another depending on the time frames you use, currently, mainly because it ‘sells’, the majority of reports and conversations seem to be dwelling on the current economic crisis and how this has substantially impacted housing prices in a negative way.
I recently stumbled across an extremely useful, detailed and interactive spreadsheet that not only provides the user with the actual numbers behind the statistic but also allows you to analyze and gage the numbers to your specific needs and criteria. The spreadsheet incorporates the historical price data from the Edmonton Real Estate Board, EREB, and runs off the monthly trailing averages. Chris Davies, who has a great real estate blog that’s updated daily, then put all this data into a Google Docs spreadsheet for “cool investors like us to use” he says.
I’ll quote Chris when I say; I make no guarantee of this data, or make any promises that it’s accurate, well calculated or pretty. It's also important to note that the past does not reflect how the future will perform. Chis made some important points I would like to note:
- The average annual price increase is 7.79%
- The average 5-year price increase is 49.09%
- Only 8 years since 1962 showed negative price growth
- In a 5-year hold, only 4 years would have resulted in negative growth
- If you held for 9 years, you’d always see an increase
- Edmonton values appear to double every 9 years, on average, since 1962
For the interactive spreadsheet with the following tabs, Annual Prices & Trailing Avgs, Monthly Prices, Interactive Price Chart, click on the image above or visit: http://kl.am/I1x
