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 Maryville home prices have performed since 2008.
Maryville historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
170
$204,450
$239,206.50
-
2009
176
$178,361.50
$208,682.95
-12.8%
2010
172
$187,500
$213,750
2.4%
2011
151
$185,000
$209,050
-2.2%
2012
141
$182,000
$198,380
-5.1%
2013
135
$172,000
$185,760
-6.4%
2014
145
$181,000
$191,860
3.3%
2015
154
$194,500
$206,170
7.5%
2016
149
$192,000
$201,600
-2.2%
2017
127
$195,000
$198,900
-1.3%
2018
131
$210,000
$210,000
5.6%
Total change in price
-12.2%
Where sale prices were unavailable, the home's assessed value was substituted.
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