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 Worden home prices have performed since 2008.
Worden historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
31
$110,000
$128,700
-
2009
45
$125,000
$146,250
13.6%
2010
27
$173,000
$197,220
34.9%
2011
31
$125,000
$141,250
-28.4%
2012
33
$132,500
$144,425
2.2%
2013
38
$157,250
$169,830
17.6%
2014
42
$151,125
$160,192.50
-5.7%
2015
39
$185,000
$196,100
22.4%
2016
37
$79,000
$82,950
-57.7%
2017
40
$168,500
$171,870
107.2%
2018
33
$162,000
$162,000
-5.7%
Total change in price
25.9%
Where sale prices were unavailable, the home's assessed value was substituted.
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