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 Crystal Lake home prices have performed since 2007.
Crystal Lake historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
666
$221,000
$260,780
-
2008
443
$202,000
$226,240
-13.2%
2009
445
$183,000
$208,620
-7.8%
2010
390
$175,500
$196,560
-5.8%
2011
377
$155,000
$168,950
-14%
2012
527
$140,000
$149,800
-11.3%
2013
762
$146,000
$153,300
2.3%
2014
666
$162,750
$167,632.50
9.3%
2015
650
$172,000
$177,160
5.7%
2016
788
$183,500
$187,170
5.7%
2017
806
$195,000
$195,000
4.2%
Total change in price
-25.2%
Where sale prices were unavailable, the home's assessed value was substituted.
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