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 Carlinville home prices have performed since 2008.
Carlinville historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
45
$43,000
$50,310
-
2009
67
$65,000
$76,050
51.2%
2010
54
$69,000
$78,660
3.4%
2011
55
$60,000
$67,800
-13.8%
2012
102
$55,000
$59,950
-11.6%
2013
104
$64,450
$69,606
16.1%
2014
101
$68,000
$72,080
3.6%
2015
106
$62,000
$65,720
-8.8%
2016
120
$61,000
$64,050
-2.5%
2017
101
$57,000
$58,140
-9.2%
2018
66
$68,000
$68,000
17%
Total change in price
35.2%
Where sale prices were unavailable, the home's assessed value was substituted.
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