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 Yorkville home prices have performed since 2007.
Yorkville historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
920
$230,250
$271,695
-
2008
499
$229,750
$257,320
-5.3%
2009
414
$202,500
$230,850
-10.3%
2010
402
$189,000
$211,680
-8.3%
2011
423
$171,000
$186,390
-11.9%
2012
450
$159,000
$170,130
-8.7%
2013
616
$180,000
$189,000
11.1%
2014
503
$189,000
$194,670
3%
2015
483
$195,000
$200,850
3.2%
2016
536
$215,000
$219,300
9.2%
2017
579
$225,000
$225,000
2.6%
Total change in price
-17.2%
Where sale prices were unavailable, the home's assessed value was substituted.
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