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 Winnebago home prices have performed since 2008.
Winnebago historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
68
$162,500
$190,125
-
2009
47
$153,000
$179,010
-5.8%
2010
43
$150,000
$171,000
-4.5%
2011
38
$111,000
$125,430
-26.6%
2012
55
$120,500
$131,345
4.7%
2013
56
$127,000
$137,160
4.4%
2014
63
$122,500
$129,850
-5.3%
2015
61
$135,500
$143,630
10.6%
2016
76
$131,500
$138,075
-3.9%
2017
73
$134,250
$136,935
-0.8%
2018
57
$135,000
$135,000
-1.4%
Total change in price
-29%
Where sale prices were unavailable, the home's assessed value was substituted.
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