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 East Moline home prices have performed since 2008.
East Moline historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
274
$87,000
$101,790
-
2009
259
$85,500
$100,035
-1.7%
2010
244
$87,450
$99,693
-0.3%
2011
250
$80,500
$90,965
-8.8%
2012
251
$77,000
$83,930
-7.7%
2013
262
$85,000
$91,800
9.4%
2014
297
$85,000
$90,100
-1.9%
2015
291
$90,000
$95,400
5.9%
2016
273
$88,000
$92,400
-3.1%
2017
355
$79,000
$80,580
-12.8%
2018
123
$93,000
$93,000
15.4%
Total change in price
-8.6%
Where sale prices were unavailable, the home's assessed value was substituted.
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