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 Dawson home prices have performed since 2008.
Dawson historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
10
$108,122.50
$126,503.32
-
2009
13
$92,470
$108,189.90
-14.5%
2010
17
$72,000
$82,080
-24.1%
2011
11
$101,500
$114,695
39.7%
2012
15
$108,000
$117,720
2.6%
2013
21
$150,000
$162,000
37.6%
2014
7
$115,000
$121,900
-24.8%
2015
13
$165,000
$174,900
43.5%
2016
18
$147,700
$155,085
-11.3%
2017
24
$141,700
$144,534
-6.8%
2018
21
$119,000
$119,000
-17.7%
Total change in price
-5.9%
Where sale prices were unavailable, the home's assessed value was substituted.
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