To truly increase, real estate values must grow faster than inflation plus an owner's effective property tax rate - an average appreciation of about 4.4 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 2.12 percent annually since 2000.
The average effective property tax rate in Illinois was 2.32 percent in 2018, according to the website WalletHub.com.
Here's how Braidwood home prices have performed since 2008.
Braidwood historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
106
$145,029.52
$169,684.53
-
2009
100
$124,508.86
$145,675.37
-14.1%
2010
100
$125,248.50
$142,783.29
-2%
2011
86
$101,099.50
$114,242.43
-20%
2012
119
$87,200
$95,048
-16.8%
2013
165
$100,000
$108,000
13.6%
2014
157
$103,754
$109,979.24
1.8%
2015
75
$113,000
$119,780
8.9%
2016
92
$117,075.43
$122,929.20
2.6%
2017
100
$132,500
$135,150
9.9%
2018
96
$150,000
$150,000
11%
Total change in price
-11.6%
Where sale prices were unavailable, the home's assessed value was substituted.
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