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 Forsyth home prices have performed since 2007.
Forsyth historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
100
$179,900
$212,282
-
2008
102
$188,000
$210,560
-0.8%
2009
96
$192,000
$218,880
4%
2010
96
$165,000
$184,800
-15.6%
2011
83
$235,000
$256,150
38.6%
2012
84
$197,000
$210,790
-17.7%
2013
67
$219,500
$230,475
9.3%
2014
71
$230,000
$236,900
2.8%
2015
63
$228,000
$234,840
-0.9%
2016
85
$205,000
$209,100
-11%
2017
69
$239,800
$239,800
14.7%
Total change in price
13%
Where sale prices were unavailable, the home's assessed value was substituted.
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