To truly increase, real estate values must grow faster than inflation plus an owner's effective property tax rate - an average appreciation of about 5 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 2.47 percent annually since 2000.
The average effective property tax rate in Illinois was 2.3 percent in 2017, according to the Illinois Policy Institute.
Here's how Carbondale home prices have performed since 2007.
Carbondale historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
263
$105,000
$123,900
-
2008
241
$102,450
$114,744
-7.4%
2009
226
$98,750
$112,575
-1.9%
2010
203
$112,000
$125,440
11.4%
2011
205
$92,000
$100,280
-20.1%
2012
208
$102,500
$109,675
9.4%
2013
214
$100,000
$105,000
-4.3%
2014
219
$107,000
$110,210
5%
2015
234
$100,000
$103,000
-6.5%
2016
205
$103,000
$105,060
2%
2017
164
$112,000
$112,000
6.6%
Total change in price
-9.6%
Where sale prices were unavailable, the home's assessed value was substituted.
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