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 Bristol home prices have performed since 2007.
Bristol historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
12
$285,000
$336,300
-
2008
5
$237,500
$266,000
-20.9%
2009
14
$147,750
$168,435
-36.7%
2010
9
$248,000
$277,760
64.9%
2011
13
$123,817
$134,960.53
-51.4%
2012
8
$157,500
$168,525
24.9%
2013
18
$187,750
$197,137.50
17%
2014
17
$149,000
$153,470
-22.2%
2015
19
$303,000
$312,090
103.4%
2016
15
$186,000
$189,720
-39.2%
2017
18
$187,500
$187,500
-1.2%
Total change in price
-44.2%
Where sale prices were unavailable, the home's assessed value was substituted.
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