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 Golden home prices have performed since 2008.
Golden historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
9
$39,900
$46,683
-
2009
15
$41,000
$47,970
2.8%
2010
7
$43,500
$49,590
3.4%
2011
10
$60,000
$67,800
36.7%
2012
12
$58,500
$63,765
-6%
2013
10
$64,500
$69,660
9.2%
2014
12
$52,500
$55,650
-20.1%
2015
10
$48,000
$50,880
-8.6%
2016
17
$55,000
$57,750
13.5%
2017
13
$60,000
$61,200
6%
2018
8
$85,500
$85,500
39.7%
Total change in price
83.2%
Where sale prices were unavailable, the home's assessed value was substituted.
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