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 Abingdon home prices have performed since 2007.
Abingdon historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
76
$38,750
$45,725
-
2008
51
$45,000
$50,400
10.2%
2009
57
$57,000
$64,980
28.9%
2010
54
$34,250
$38,360
-41%
2011
42
$39,250
$42,782.50
11.5%
2012
59
$41,000
$43,870
2.5%
2013
53
$38,000
$39,900
-9%
2014
57
$35,500
$36,565
-8.4%
2015
45
$35,000
$36,050
-1.4%
2016
61
$38,000
$38,760
7.5%
2017
55
$48,750
$48,750
25.8%
Total change in price
6.6%
Where sale prices were unavailable, the home's assessed value was substituted.
Powered by BlockShopper.com.
Alerts Sign-up