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 Campton Hills home prices have performed since 2008.
Campton Hills historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
146
$495,000
$579,150
-
2009
112
$442,000
$517,140
-10.7%
2010
136
$431,250
$491,625
-4.9%
2011
126
$407,500
$460,475
-6.3%
2012
153
$380,000
$414,200
-10%
2013
208
$373,500
$403,380
-2.6%
2014
167
$397,000
$420,820
4.3%
2015
228
$395,000
$418,700
-0.5%
2016
177
$385,000
$404,250
-3.5%
2017
193
$395,000
$402,900
-0.3%
2018
241
$409,000
$409,000
1.5%
Total change in price
-29.4%
Where sale prices were unavailable, the home's assessed value was substituted.
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