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 Edwardsville home prices have performed since 2008.
Edwardsville historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
446
$153,200
$179,244
-
2009
387
$153,900
$180,063
0.5%
2010
382
$155,000
$176,700
-1.9%
2011
357
$160,260
$181,093.80
2.5%
2012
431
$158,000
$172,220
-4.9%
2013
505
$162,500
$175,500
1.9%
2014
498
$163,500
$173,310
-1.2%
2015
568
$173,614.50
$184,031.37
6.2%
2016
535
$173,000
$181,650
-1.3%
2017
484
$180,000
$183,600
1.1%
2018
450
$185,000
$185,000
0.8%
Total change in price
3.2%
Where sale prices were unavailable, the home's assessed value was substituted.
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