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 Harristown home prices have performed since 2008.
Harristown historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
24
$85,250
$99,742.50
-
2009
28
$65,057
$76,116.69
-23.7%
2010
15
$85,000
$96,900
27.3%
2011
20
$75,174.50
$84,947.18
-12.3%
2012
28
$90,750
$98,917.50
16.4%
2013
30
$64,250
$69,390
-29.9%
2014
24
$85,000
$90,100
29.8%
2015
21
$76,000
$80,560
-10.6%
2016
25
$102,500
$107,625
33.6%
2017
18
$83,500
$85,170
-20.9%
2018
17
$95,000
$95,000
11.5%
Total change in price
-4.8%
Where sale prices were unavailable, the home's assessed value was substituted.
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