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 Roselle home prices have performed since 2007.
Roselle historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
53
$242,000
$285,560
-
2008
48
$213,500
$239,120
-16.3%
2009
36
$179,500
$204,630
-14.4%
2010
34
$177,500
$198,800
-2.8%
2011
23
$164,000
$178,760
-10.1%
2012
41
$170,000
$181,900
1.8%
2013
66
$142,500
$149,625
-17.7%
2014
59
$172,000
$177,160
18.4%
2015
75
$156,500
$161,195
-9%
2016
98
$203,250
$207,315
28.6%
2017
69
$218,500
$218,500
5.4%
Total change in price
-23.5%
Where sale prices were unavailable, the home's assessed value was substituted.
Powered by BlockShopper.com.
Alerts Sign-up