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 Streator home prices have performed since 2008.
Streator historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
187
$67,000
$78,390
-
2009
188
$65,500
$76,635
-2.2%
2010
133
$61,800
$70,452
-8.1%
2011
145
$50,000
$56,500
-19.8%
2012
140
$61,750
$67,307.50
19.1%
2013
152
$49,500
$53,460
-20.6%
2014
208
$58,750
$62,275
16.5%
2015
182
$45,500
$48,230
-22.6%
2016
186
$49,000
$51,450
6.7%
2017
169
$60,000
$61,200
19%
2018
127
$48,000
$48,000
-21.6%
Total change in price
-38.8%
Where sale prices were unavailable, the home's assessed value was substituted.
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