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Sunday, February 23, 2020

2018 home sales: Willowbrook price history

Real Estate

By Local Labs News Service | Mar 22, 2019

Re 10

Historical home sales data show whether price appreciation has outpaced inflation and tax rates. BlockShopper.com has calculated cities' median sales prices for the past 10 years, adjusting for inflation.

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 Willowbrook home prices have performed since 2008.

Willowbrook historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
112
$220,000
$257,400
-
2009
106
$193,000
$225,810
-12.3%
2010
115
$197,500
$225,150
-0.3%
2011
112
$143,250
$161,872.50
-28.1%
2012
145
$135,000
$147,150
-9.1%
2013
156
$152,000
$164,160
11.6%
2014
174
$172,250
$182,585
11.2%
2015
169
$164,000
$173,840
-4.8%
2016
202
$200,000
$210,000
20.8%
2017
194
$193,000
$196,860
-6.3%
2018
143
$200,000
$200,000
1.6%
Total change in price
-22.3%

Where sale prices were unavailable, the home's assessed value was substituted.

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