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 Cahokia home prices have performed since 2007.
Cahokia historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
348
$108,750
$128,325
-
2008
229
$75,000
$84,000
-34.5%
2009
166
$29,000
$33,060
-60.6%
2010
197
$16,000
$17,920
-45.8%
2011
159
$13,000
$14,170
-20.9%
2012
201
$16,000
$17,120
20.8%
2013
403
$27,000
$28,350
65.6%
2014
367
$26,000
$26,780
-5.5%
2015
401
$36,000
$37,080
38.5%
2016
272
$20,750
$21,165
-42.9%
2017
312
$23,500
$23,500
11%
Total change in price
-81.7%
Where sale prices were unavailable, the home's assessed value was substituted.
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