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 Dahinda home prices have performed since 2007.
Dahinda historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
11
$35,000
$41,300
-
2008
11
$104,000
$116,480
182%
2009
3
$57,000
$64,980
-44.2%
2010
3
$175,000
$196,000
201.6%
2011
3
$173,000
$188,570
-3.8%
2012
5
$93,000
$99,510
-47.2%
2013
4
$80,000
$84,000
-15.6%
2014
10
$97,250
$100,167.50
19.2%
2015
3
$145,000
$149,350
49.1%
2016
3
$13,000
$13,260
-91.1%
2017
8
$183,750
$183,750
1285.7%
Total change in price
344.9%
Where sale prices were unavailable, the home's assessed value was substituted.
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