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 DeKalb home prices have performed since 2008.
DeKalb historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
45
$136,332.11
$159,508.56
-
2009
68
$127,864.61
$149,601.59
-6.2%
2010
58
$139,348.94
$158,857.79
6.2%
2011
86
$128,390
$145,080.70
-8.7%
2012
122
$112,696.72
$122,839.43
-15.3%
2013
115
$121,873.10
$131,622.94
7.2%
2014
100
$113,032.01
$119,813.93
-9%
2015
83
$75,000
$79,500
-33.6%
2016
74
$83,447.21
$87,619.57
10.2%
2017
52
$78,107
$79,669.14
-9.1%
2018
31
$98,551
$98,551
23.7%
Total change in price
-38.2%
Where sale prices were unavailable, the home's assessed value was substituted.
Powered by BlockShopper.com.
Alerts Sign-up