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 St. Charles home prices have performed since 2007.
St. Charles historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
467
$310,000
$365,800
-
2008
296
$280,000
$313,600
-14.3%
2009
262
$243,750
$277,875
-11.4%
2010
310
$240,000
$268,800
-3.3%
2011
350
$238,553.50
$260,023.31
-3.3%
2012
365
$222,500
$238,075
-8.4%
2013
506
$235,000
$246,750
3.6%
2014
501
$250,000
$257,500
4.4%
2015
511
$250,000
$257,500
0%
2016
564
$265,000
$270,300
5%
2017
539
$280,000
$280,000
3.6%
Total change in price
-23.5%
Where sale prices were unavailable, the home's assessed value was substituted.
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