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 Crystal Manor home prices have performed since 2008.
Crystal Manor historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
5
$148,000
$173,160
-
2009
13
$117,500
$137,475
-20.6%
2010
27
$110,000
$125,400
-8.8%
2011
22
$103,250
$116,672.50
-7%
2012
14
$100,000
$109,000
-6.6%
2013
26
$110,000
$118,800
9%
2014
23
$120,000
$127,200
7.1%
2015
14
$111,500
$118,190
-7.1%
2016
21
$128,000
$134,400
13.7%
2017
23
$133,500
$136,170
1.3%
2018
24
$159,500
$159,500
17.1%
Total change in price
-7.9%
Where sale prices were unavailable, the home's assessed value was substituted.
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