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 Sadorus home prices have performed since 2007.
Sadorus historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
6
$99,500
$117,410
-
2008
8
$135,000
$151,200
28.8%
2009
7
$50,000
$57,000
-62.3%
2010
5
$66,000
$73,920
29.7%
2011
4
$95,500
$104,095
40.8%
2012
7
$39,000
$41,730
-59.9%
2013
12
$105,000
$110,250
164.2%
2014
13
$74,900
$77,147
-30%
2015
10
$49,750
$51,242.50
-33.6%
2016
10
$59,750
$60,945
18.9%
2017
13
$97,000
$97,000
59.2%
Total change in price
-17.4%
Where sale prices were unavailable, the home's assessed value was substituted.
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