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 Moline home prices have performed since 2008.
Moline historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
690
$89,250
$104,422.50
-
2009
679
$93,000
$108,810
4.2%
2010
626
$93,000
$106,020
-2.6%
2011
600
$85,250
$96,332.50
-9.1%
2012
683
$83,500
$91,015
-5.5%
2013
723
$87,000
$93,960
3.2%
2014
718
$91,000
$96,460
2.7%
2015
784
$94,250
$99,905
3.6%
2016
725
$92,000
$96,600
-3.3%
2017
912
$84,950
$86,649
-10.3%
2018
190
$104,950
$104,950
21.1%
Total change in price
0.5%
Where sale prices were unavailable, the home's assessed value was substituted.
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