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 Robinson home prices have performed since 2007.
Robinson historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
182
$50,250
$59,295
-
2008
173
$53,000
$59,360
0.1%
2009
141
$67,500
$76,950
29.6%
2010
149
$52,100
$58,352
-24.2%
2011
162
$55,000
$59,950
2.7%
2012
177
$61,900
$66,233
10.5%
2013
172
$70,750
$74,287.50
12.2%
2014
200
$67,000
$69,010
-7.1%
2015
164
$68,500
$70,555
2.2%
2016
197
$75,000
$76,500
8.4%
2017
278
$79,500
$79,500
3.9%
Total change in price
34.1%
Where sale prices were unavailable, the home's assessed value was substituted.
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