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 Coal Valley home prices have performed since 2007.
Coal Valley historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
97
$163,000
$192,340
-
2008
82
$163,750
$183,400
-4.6%
2009
66
$146,250
$166,725
-9.1%
2010
64
$147,000
$164,640
-1.3%
2011
61
$140,000
$152,600
-7.3%
2012
70
$150,500
$161,035
5.5%
2013
72
$166,000
$174,300
8.2%
2014
64
$145,000
$149,350
-14.3%
2015
83
$160,000
$164,800
10.3%
2016
85
$151,500
$154,530
-6.2%
2017
71
$155,000
$155,000
0.3%
Total change in price
-19.4%
Where sale prices were unavailable, the home's assessed value was substituted.
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