2018 home sales: West Loop price history

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Historical home sales data show whether price appreciation has outpaced inflation and tax rates. BlockShopper.com has calculated neighborhoods' median sales prices for the past 10 years, adjusting for inflation.

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 West Loop home prices have performed since 2008.

West Loop historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
106
$339,500
$397,215
-
2009
278
$305,250
$357,142.50
-10.1%
2010
248
$266,000
$303,240
-15.1%
2011
120
$250,000
$282,500
-6.8%
2012
114
$255,000
$277,950
-1.6%
2013
141
$300,000
$324,000
16.6%
2014
149
$305,000
$323,300
-0.2%
2015
204
$309,000
$327,540
1.3%
2016
163
$322,500
$338,625
3.4%
2017
176
$336,000
$342,720
1.2%
2018
137
$354,000
$354,000
3.3%
Total change in price
-10.9%

Where sale prices were unavailable, the home's assessed value was substituted.

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