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 Dixon home prices have performed since 2007.
Dixon historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
362
$77,750
$91,745
-
2008
240
$79,000
$88,480
-3.6%
2009
225
$82,000
$93,480
5.7%
2010
196
$80,000
$89,600
-4.2%
2011
179
$38,500
$41,965
-53.2%
2012
188
$39,000
$41,730
-0.6%
2013
235
$38,000
$39,900
-4.4%
2014
190
$39,250
$40,427.50
1.3%
2015
245
$38,000
$39,140
-3.2%
2016
251
$42,500
$43,350
10.8%
2017
251
$44,500
$44,500
2.7%
Total change in price
-51.5%
Where sale prices were unavailable, the home's assessed value was substituted.
Powered by BlockShopper.com.
Alerts Sign-up