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 Braidwood home prices have performed since 2007.
Braidwood historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
172
$138,494.50
$163,423.51
-
2008
106
$145,029.52
$162,433.06
-0.6%
2009
100
$124,508.86
$141,940.10
-12.6%
2010
100
$125,248.50
$140,278.32
-1.2%
2011
86
$101,099.50
$110,198.45
-21.4%
2012
119
$87,200
$93,304
-15.3%
2013
165
$100,000
$105,000
12.5%
2014
159
$103,754
$106,866.62
1.8%
2015
78
$113,500
$116,905
9.4%
2016
94
$117,075.43
$119,416.94
2.1%
2017
103
$133,500
$133,500
11.8%
Total change in price
-18.3%
Where sale prices were unavailable, the home's assessed value was substituted.
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