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 Bartlett home prices have performed since 2007.
Bartlett historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
330
$303,950
$358,661
-
2008
238
$270,000
$302,400
-15.7%
2009
215
$251,000
$286,140
-5.4%
2010
176
$240,000
$268,800
-6.1%
2011
233
$216,500
$235,985
-12.2%
2012
237
$209,500
$224,165
-5%
2013
339
$220,000
$231,000
3%
2014
326
$237,000
$244,110
5.7%
2015
386
$245,000
$252,350
3.4%
2016
432
$255,250
$260,355
3.2%
2017
197
$258,500
$258,500
-0.7%
Total change in price
-27.9%
Where sale prices were unavailable, the home's assessed value was substituted.
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