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 Sugar Grove home prices have performed since 2007.
Sugar Grove historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
239
$309,522
$365,235.96
-
2008
160
$286,750
$321,160
-12.1%
2009
107
$262,500
$299,250
-6.8%
2010
109
$240,000
$268,800
-10.2%
2011
116
$205,050
$223,504.50
-16.9%
2012
145
$205,000
$219,350
-1.9%
2013
192
$223,000
$234,150
6.7%
2014
200
$241,250
$248,487.50
6.1%
2015
213
$249,000
$256,470
3.2%
2016
193
$240,000
$244,800
-4.6%
2017
216
$259,000
$259,000
5.8%
Total change in price
-29.1%
Where sale prices were unavailable, the home's assessed value was substituted.
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