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 Pleasant Plains home prices have performed since 2008.
Pleasant Plains historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
26
$130,500
$152,685
-
2009
28
$99,250
$116,122.50
-23.9%
2010
31
$101,500
$115,710
-0.4%
2011
34
$119,750
$135,317.50
16.9%
2012
33
$125,000
$136,250
0.7%
2013
38
$104,500
$112,860
-17.2%
2014
31
$91,698
$97,199.88
-13.9%
2015
40
$101,000
$107,060
10.1%
2016
32
$136,500
$143,325
33.9%
2017
20
$84,750
$86,445
-39.7%
2018
46
$135,000
$135,000
56.2%
Total change in price
-11.6%
Where sale prices were unavailable, the home's assessed value was substituted.
Powered by BlockShopper.com.
Alerts Sign-up