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 Carpentersville home prices have performed since 2007.
Carpentersville historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
704
$178,950
$211,161
-
2008
479
$149,694.50
$167,657.84
-20.6%
2009
474
$128,000
$145,920
-13%
2010
428
$110,000
$123,200
-15.6%
2011
374
$75,000
$81,750
-33.6%
2012
489
$76,000
$81,320
-0.5%
2013
657
$90,000
$94,500
16.2%
2014
609
$110,000
$113,300
19.9%
2015
541
$129,900
$133,797
18.1%
2016
575
$140,000
$142,800
6.7%
2017
598
$151,500
$151,500
6.1%
Total change in price
-28.3%
Where sale prices were unavailable, the home's assessed value was substituted.
Powered by BlockShopper.com.
Alerts Sign-up