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 Lexington home prices have performed since 2007.
Lexington historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change
2007
37
$136,500
$161,070
-
2008
35
$119,900
$134,288
-16.6%
2009
41
$115,000
$131,100
-2.4%
2010
28
$99,000
$110,880
-15.4%
2011
18
$100,000
$109,000
-1.7%
2012
31
$120,000
$128,400
17.8%
2013
42
$103,000
$108,150
-15.8%
2014
40
$135,250
$139,307.50
28.8%
2015
22
$125,750
$129,522.50
-7%
2016
34
$129,750
$132,345
2.2%
2017
41
$126,500
$126,500
-4.4%
Total change in price
-21.5%
Where sale prices were unavailable, the home's assessed value was substituted.
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