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 Williamsville home prices have performed since 2007.
Williamsville historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
32
$111,800
$131,924
-
2008
22
$122,500
$137,200
4%
2009
25
$175,000
$199,500
45.4%
2010
24
$121,750
$136,360
-31.6%
2011
26
$132,750
$144,697.50
6.1%
2012
23
$130,000
$139,100
-3.9%
2013
31
$127,000
$133,350
-4.1%
2014
24
$129,500
$133,385
0%
2015
31
$120,000
$123,600
-7.3%
2016
26
$157,000
$160,140
29.6%
2017
27
$140,000
$140,000
-12.6%
Total change in price
6.1%
Where sale prices were unavailable, the home's assessed value was substituted.
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