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 Wilsonville home prices have performed since 2008.
Wilsonville historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
14
$32,000
$37,440
-
2009
9
$37,500
$43,875
17.2%
2010
6
$31,250
$35,625
-18.8%
2011
13
$25,000
$28,250
-20.7%
2012
3
$7,000
$7,630
-73%
2013
14
$22,500
$24,300
218.5%
2014
19
$21,000
$22,260
-8.4%
2015
15
$18,750
$19,875
-10.7%
2016
15
$15,000
$15,750
-20.8%
2017
9
$30,000
$30,600
94.3%
2018
9
$17,000
$17,000
-44.4%
Total change in price
-54.6%
Where sale prices were unavailable, the home's assessed value was substituted.
Powered by BlockShopper.com.
Alerts Sign-up