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 Lisle home prices have performed since 2007.
Lisle historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
351
$262,000
$309,160
-
2008
197
$296,000
$331,520
7.2%
2009
177
$249,950
$284,943
-14%
2010
186
$241,500
$270,480
-5.1%
2011
218
$213,000
$232,170
-14.2%
2012
250
$220,000
$235,400
1.4%
2013
244
$244,000
$256,200
8.8%
2014
313
$256,000
$263,680
2.9%
2015
297
$283,500
$292,005
10.7%
2016
313
$273,500
$278,970
-4.5%
2017
199
$284,900
$284,900
2.1%
Total change in price
-7.8%
Where sale prices were unavailable, the home's assessed value was substituted.
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