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 Bradley home prices have performed since 2008.
Bradley historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
270
$144,950
$169,591.50
-
2009
240
$125,250
$146,542.50
-13.6%
2010
157
$119,500
$136,230
-7%
2011
155
$108,000
$122,040
-10.4%
2012
197
$110,000
$119,900
-1.8%
2013
211
$109,500
$118,260
-1.4%
2014
222
$115,000
$121,900
3.1%
2015
233
$110,000
$116,600
-4.3%
2016
258
$119,000
$124,950
7.2%
2017
270
$116,450
$118,779
-4.9%
2018
253
$127,000
$127,000
6.9%
Total change in price
-25.1%
Where sale prices were unavailable, the home's assessed value was substituted.
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