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 De Soto home prices have performed since 2007.
De Soto historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
24
$76,000
$89,680
-
2008
15
$55,000
$61,600
-31.3%
2009
11
$67,500
$76,950
24.9%
2010
20
$52,300
$58,576
-23.9%
2011
16
$60,305.50
$65,732.99
12.2%
2012
24
$47,500
$50,825
-22.7%
2013
21
$72,300
$75,915
49.4%
2014
26
$53,375
$54,976.25
-27.6%
2015
22
$48,500
$49,955
-9.1%
2016
17
$52,900
$53,958
8%
2017
15
$72,000
$72,000
33.4%
Total change in price
-19.7%
Where sale prices were unavailable, the home's assessed value was substituted.
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