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 Freeburg home prices have performed since 2008.
Freeburg historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
58
$393,000
$459,810
-
2009
68
$156,000
$182,520
-60.3%
2010
54
$146,000
$166,440
-8.8%
2011
47
$120,000
$135,600
-18.5%
2012
46
$147,750
$161,047.50
18.8%
2013
61
$135,000
$145,800
-9.5%
2014
70
$125,000
$132,500
-9.1%
2015
74
$142,500
$151,050
14%
2016
70
$159,000
$166,950
10.5%
2017
75
$142,500
$145,350
-12.9%
2018
78
$158,000
$158,000
8.7%
Total change in price
-65.6%
Where sale prices were unavailable, the home's assessed value was substituted.
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