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 Caledonia home prices have performed since 2008.
Caledonia historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
9
$315,000
$368,550
-
2009
19
$207,250
$242,482.50
-34.2%
2010
19
$205,041
$233,746.74
-3.6%
2011
16
$135,000
$152,550
-34.7%
2012
17
$163,200
$177,888
16.6%
2013
18
$95,000
$102,600
-42.3%
2014
16
$170,000
$180,200
75.6%
2015
11
$155,000
$164,300
-8.8%
2016
27
$173,000
$181,650
10.6%
2017
19
$228,750
$233,325
28.4%
2018
12
$227,750
$227,750
-2.4%
Total change in price
-38.2%
Where sale prices were unavailable, the home's assessed value was substituted.
Powered by BlockShopper.com.
Alerts Sign-up