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 Stickney home prices have performed since 2007.
Stickney historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
84
$226,750
$267,565
-
2008
57
$185,000
$207,200
-22.6%
2009
59
$142,500
$162,450
-21.6%
2010
82
$135,000
$151,200
-6.9%
2011
75
$113,500
$123,715
-18.2%
2012
61
$93,500
$100,045
-19.1%
2013
96
$102,500
$107,625
7.6%
2014
117
$134,000
$138,020
28.2%
2015
88
$148,500
$152,955
10.8%
2016
95
$149,000
$151,980
-0.6%
2017
93
$167,500
$167,500
10.2%
Total change in price
-37.4%
Where sale prices were unavailable, the home's assessed value was substituted.
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