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 New Athens home prices have performed since 2008.
New Athens historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
25
$262,500
$307,125
-
2009
31
$72,500
$84,825
-72.4%
2010
29
$75,000
$85,500
0.8%
2011
25
$65,000
$73,450
-14.1%
2012
21
$65,000
$70,850
-3.5%
2013
35
$63,500
$68,580
-3.2%
2014
22
$71,500
$75,790
10.5%
2015
36
$66,750
$70,755
-6.6%
2016
23
$92,500
$97,125
37.3%
2017
32
$61,250
$62,475
-35.7%
2018
33
$80,000
$80,000
28.1%
Total change in price
-74%
Where sale prices were unavailable, the home's assessed value was substituted.
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