To truly increase, real estate values must grow faster than inflation plus an owner's effective property tax rate - an average appreciation of about 5 percent in Illinois.
According to the U.S. Bureau of Labor Statistics' Consumer Price Index, the U.S. dollar has experienced an average inflation rate of 2.47 percent annually since 2000.
The average effective property tax rate in Illinois was 2.3 percent in 2017, according to the Illinois Policy Institute.
Here's how Sidney home prices have performed since 2007.
Sidney historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
22
$106,450
$125,611
-
2008
35
$138,000
$154,560
23%
2009
23
$112,500
$128,250
-17%
2010
26
$114,250
$127,960
-0.2%
2011
29
$92,000
$100,280
-21.6%
2012
29
$97,000
$103,790
3.5%
2013
34
$119,500
$125,475
20.9%
2014
37
$117,000
$120,510
-4%
2015
32
$131,750
$135,702.50
12.6%
2016
46
$120,500
$122,910
-9.4%
2017
31
$127,500
$127,500
3.7%
Total change in price
1.5%
Where sale prices were unavailable, the home's assessed value was substituted.
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