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 Carbondale home prices have performed since 2008.
Carbondale historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
241
$102,450
$119,866.50
-
2009
227
$99,000
$115,830
-3.4%
2010
203
$112,000
$127,680
10.2%
2011
205
$91,500
$103,395
-19%
2012
208
$102,500
$111,725
8.1%
2013
214
$100,000
$108,000
-3.3%
2014
219
$107,000
$113,420
5%
2015
235
$100,000
$106,000
-6.5%
2016
206
$104,000
$109,200
3%
2017
199
$108,000
$110,160
0.9%
2018
166
$107,500
$107,500
-2.4%
Total change in price
-10.3%
Where sale prices were unavailable, the home's assessed value was substituted.
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