2018 home sales: Chicago Ridge price history

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Historical home sales data show whether price appreciation has outpaced inflation and tax rates. BlockShopper.com has calculated cities' 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 Chicago Ridge home prices have performed since 2008.

Chicago Ridge historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
108
$150,000
$175,500
-
2009
97
$124,500
$145,665
-17%
2010
100
$116,000
$132,240
-9.2%
2011
102
$81,000
$91,530
-30.8%
2012
140
$66,250
$72,212.50
-21.1%
2013
160
$62,250
$67,230
-6.9%
2014
160
$78,000
$82,680
23%
2015
172
$93,250
$98,845
19.6%
2016
185
$108,750
$114,187.50
15.5%
2017
163
$97,000
$98,940
-13.4%
2018
166
$119,250
$119,250
20.5%
Total change in price
-32.1%

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

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