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 Huntley home prices have performed since 2007.
Huntley historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
485
$242,622.50
$286,294.55
-
2008
204
$226,815
$254,032.80
-11.3%
2009
147
$213,165
$243,008.10
-4.3%
2010
167
$207,760
$232,691.20
-4.2%
2011
147
$193,500
$210,915
-9.4%
2012
156
$187,500
$200,625
-4.9%
2013
205
$171,000
$179,550
-10.5%
2014
203
$189,000
$194,670
8.4%
2015
226
$178,450
$183,803.50
-5.6%
2016
215
$212,000
$216,240
17.6%
2017
215
$234,500
$234,500
8.4%
Total change in price
-18.1%
Where sale prices were unavailable, the home's assessed value was substituted.
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