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 Rockdale home prices have performed since 2007.
Rockdale historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
23
$140,500
$165,790
-
2008
15
$130,000
$145,600
-12.2%
2009
8
$142,500
$162,450
11.6%
2010
14
$78,615.08
$88,048.89
-45.8%
2011
11
$100,000
$109,000
23.8%
2012
14
$68,750
$73,562.50
-32.5%
2013
20
$73,250
$76,912.50
4.6%
2014
18
$85,000
$87,550
13.8%
2015
10
$102,500
$105,575
20.6%
2016
10
$105,000
$107,100
1.4%
2017
11
$85,000
$85,000
-20.6%
Total change in price
-48.7%
Where sale prices were unavailable, the home's assessed value was substituted.
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