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 South Roxana home prices have performed since 2008.
South Roxana historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
40
$42,640
$49,888.80
-
2009
25
$36,000
$42,120
-15.6%
2010
16
$29,000
$33,060
-21.5%
2011
21
$39,900
$45,087
36.4%
2012
13
$56,900
$62,021
37.6%
2013
15
$39,000
$42,120
-32.1%
2014
19
$49,000
$51,940
23.3%
2015
23
$33,339
$35,339.34
-32%
2016
28
$36,750
$38,587.50
9.2%
2017
21
$27,000
$27,540
-28.6%
2018
29
$48,999
$48,999
77.9%
Total change in price
-1.8%
Where sale prices were unavailable, the home's assessed value was substituted.
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