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 Dupage City home prices have performed since 2008.
Dupage City historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
78
$120,000
$140,400
-
2009
78
$120,000
$140,400
0%
2010
66
$101,000
$115,140
-18%
2011
68
$66,000
$74,580
-35.2%
2012
61
$69,750
$76,027.50
1.9%
2013
83
$86,000
$92,880
22.2%
2014
77
$98,500
$104,410
12.4%
2015
73
$103,000
$109,180
4.6%
2016
100
$106,000
$111,300
1.9%
2017
110
$120,000
$122,400
10%
2018
104
$121,500
$121,500
-0.7%
Total change in price
-13.5%
Where sale prices were unavailable, the home's assessed value was substituted.
Powered by BlockShopper.com.
Alerts Sign-up