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 Pecatonica home prices have performed since 2007.
Pecatonica historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
96
$132,260
$156,066.80
-
2008
73
$125,000
$140,000
-10.3%
2009
77
$110,000
$125,400
-10.4%
2010
56
$114,500
$128,240
2.3%
2011
53
$113,000
$123,170
-4%
2012
60
$118,000
$126,260
2.5%
2013
51
$114,000
$119,700
-5.2%
2014
69
$133,750
$137,762.50
15.1%
2015
54
$126,300
$130,089
-5.6%
2016
81
$120,000
$122,400
-5.9%
2017
63
$125,000
$125,000
2.1%
Total change in price
-19.9%
Where sale prices were unavailable, the home's assessed value was substituted.
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