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 Rolling Meadows home prices have performed since 2008.
Rolling Meadows historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
214
$225,000
$263,250
-
2009
208
$190,000
$222,300
-15.6%
2010
199
$173,000
$197,220
-11.3%
2011
169
$144,250
$163,002.50
-17.3%
2012
325
$150,000
$163,500
0.3%
2013
417
$165,000
$178,200
9%
2014
354
$172,000
$182,320
2.3%
2015
360
$200,000
$212,000
16.3%
2016
395
$200,000
$210,000
-0.9%
2017
397
$211,000
$215,220
2.5%
2018
388
$208,750
$208,750
-3%
Total change in price
-20.7%
Where sale prices were unavailable, the home's assessed value was substituted.
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