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 Burlington home prices have performed since 2008.
Burlington historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
4
$164,250
$192,172.50
-
2009
5
$325,000
$380,250
97.9%
2010
2
$87,250
$99,465
-73.8%
2011
5
$114,000
$128,820
29.5%
2012
16
$120,225
$131,045.25
1.7%
2013
11
$205,000
$221,400
68.9%
2014
16
$137,500
$145,750
-34.2%
2015
4
$213,349
$226,149.94
55.2%
2016
12
$160,000
$168,000
-25.7%
2017
7
$185,000
$188,700
12.3%
2018
13
$204,000
$204,000
8.1%
Total change in price
6.2%
Where sale prices were unavailable, the home's assessed value was substituted.
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