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 Eureka home prices have performed since 2008.
Eureka historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
76
$128,500
$150,345
-
2009
64
$120,000
$140,400
-6.6%
2010
63
$125,000
$142,500
1.5%
2011
76
$119,833
$135,411.29
-5%
2012
73
$129,000
$140,610
3.8%
2013
60
$136,000
$146,880
4.5%
2014
60
$123,500
$130,910
-10.9%
2015
72
$117,500
$124,550
-4.9%
2016
63
$136,000
$142,800
14.7%
2017
67
$121,000
$123,420
-13.6%
2018
70
$121,500
$121,500
-1.6%
Total change in price
-19.2%
Where sale prices were unavailable, the home's assessed value was substituted.
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