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 St. Anne home prices have performed since 2008.
St. Anne historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
15
$89,900
$105,183
-
2009
22
$54,000
$63,180
-39.9%
2010
15
$70,000
$79,800
26.3%
2011
8
$77,000
$87,010
9%
2012
10
$87,250
$95,102.50
9.3%
2013
11
$45,500
$49,140
-48.3%
2014
24
$59,500
$63,070
28.3%
2015
12
$91,500
$96,990
53.8%
2016
16
$49,950
$52,447.50
-45.9%
2017
10
$58,250
$59,415
13.3%
2018
12
$62,250
$62,250
4.8%
Total change in price
-40.8%
Where sale prices were unavailable, the home's assessed value was substituted.
Powered by BlockShopper.com.
Alerts Sign-up