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 Hinsdale home prices have performed since 2008.
Hinsdale historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
210
$825,000
$965,250
-
2009
222
$686,500
$803,205
-16.8%
2010
241
$719,250
$819,945
2.1%
2011
217
$787,000
$889,310
8.5%
2012
275
$725,000
$790,250
-11.1%
2013
343
$812,500
$877,500
11%
2014
345
$675,000
$715,500
-18.5%
2015
300
$753,000
$798,180
11.6%
2016
340
$795,000
$834,750
4.6%
2017
304
$812,500
$828,750
-0.7%
2018
270
$827,500
$827,500
-0.2%
Total change in price
-14.3%
Where sale prices were unavailable, the home's assessed value was substituted.
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