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 Bloomingdale home prices have performed since 2007.
Bloomingdale historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
418
$244,950
$289,041
-
2008
276
$220,000
$246,400
-14.8%
2009
225
$240,000
$273,600
11%
2010
202
$240,000
$268,800
-1.8%
2011
216
$200,000
$218,000
-18.9%
2012
296
$210,000
$224,700
3.1%
2013
357
$196,750
$206,587.50
-8.1%
2014
396
$230,000
$236,900
14.7%
2015
373
$232,500
$239,475
1.1%
2016
381
$239,000
$243,780
1.8%
2017
226
$260,000
$260,000
6.7%
Total change in price
-10%
Where sale prices were unavailable, the home's assessed value was substituted.
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