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 Williamsville home prices have performed since 2008.
Williamsville historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
22
$122,500
$143,325
-
2009
25
$175,000
$204,750
42.9%
2010
24
$121,750
$138,795
-32.2%
2011
26
$132,750
$150,007.50
8.1%
2012
23
$130,000
$141,700
-5.5%
2013
31
$127,000
$137,160
-3.2%
2014
24
$129,500
$137,270
0.1%
2015
31
$120,000
$127,200
-7.3%
2016
26
$157,000
$164,850
29.6%
2017
29
$144,000
$146,880
-10.9%
2018
28
$151,450
$151,450
3.1%
Total change in price
5.7%
Where sale prices were unavailable, the home's assessed value was substituted.
Powered by BlockShopper.com.
Alerts Sign-up