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 Carillon home prices have performed since 2007.
Carillon historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
16
$160,000
$188,800
-
2008
13
$157,500
$176,400
-6.6%
2009
15
$132,500
$151,050
-14.4%
2010
23
$122,500
$137,200
-9.2%
2011
10
$125,000
$136,250
-0.7%
2012
41
$133,000
$142,310
4.4%
2013
47
$129,900
$136,395
-4.2%
2014
27
$141,000
$145,230
6.5%
2015
34
$143,000
$147,290
1.4%
2016
36
$164,000
$167,280
13.6%
2017
14
$177,000
$177,000
5.8%
Total change in price
-6.2%
Where sale prices were unavailable, the home's assessed value was substituted.
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