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 Round Lake Beach home prices have performed since 2008.
Round Lake Beach historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
318
$134,500
$157,365
-
2009
335
$108,000
$126,360
-19.7%
2010
334
$89,900
$102,486
-18.9%
2011
249
$65,000
$73,450
-28.3%
2012
328
$62,000
$67,580
-8%
2013
442
$62,500
$67,500
-0.1%
2014
370
$86,000
$91,160
35.1%
2015
333
$106,000
$112,360
23.3%
2016
431
$115,000
$120,750
7.5%
2017
448
$130,000
$132,600
9.8%
2018
448
$143,000
$143,000
7.8%
Total change in price
-9.1%
Where sale prices were unavailable, the home's assessed value was substituted.
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