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 Roselle home prices have performed since 2008.
Roselle historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
193
$232,500
$272,025
-
2009
172
$200,000
$234,000
-14%
2010
179
$217,750
$248,235
6.1%
2011
185
$185,000
$209,050
-15.8%
2012
168
$175,000
$190,750
-8.8%
2013
257
$190,000
$205,200
7.6%
2014
259
$200,000
$212,000
3.3%
2015
260
$223,000
$236,380
11.5%
2016
287
$230,000
$241,500
2.2%
2017
331
$240,000
$244,800
1.4%
2018
246
$225,000
$225,000
-8.1%
Total change in price
-17.3%
Where sale prices were unavailable, the home's assessed value was substituted.
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