It goes without saying that the coronavirus pandemic has sparked a wave of uncertainty across myriad industries, and no other market has quite felt its impact like that of real estate.
The pandemic has become a driving force behind the continued real estate boom, with high demand for vacation homes and a limited supply of housing that has prompted buyers and investors to bid up prices for affordable properties, causing home prices to skyrocket. The ability to work remotely played a role in the vacation home demand in mid-2020, as affluent Americans opted to ride out the pandemic with more amenities and space outside dense urban areas.
Stacker compiled a list of cities with the fastest-growing home prices in Gainesville, GA metro area using data from Zillow. Cities are ranked by 1-year price change as of December 2022. The typical home value in the United States increased over the last year by +8.4%% to $356,819. All 7 cities and towns with data available were included in the list.
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Stacker
#7. Gillsville, GA
– 1-year price change: +$31,235 (+12.0%)
– 5-year price change: +$136,478 (+88.6%)
– Typical home value: $290,455 (#7 most expensive city in metro)
Stacker
#6. Lula, GA
– 1-year price change: +$38,660 (+15.0%)
– 5-year price change: +$134,098 (+83.0%)
– Typical home value: $295,620 (#6 most expensive city in metro)
Stacker
#5. Gainesville, GA
– 1-year price change: +$44,486 (+14.0%)
– 5-year price change: +$160,610 (+80.0%)
– Typical home value: $361,488 (#4 most expensive city in metro)
Stacker
#4. Oakwood, GA
– 1-year price change: +$44,980 (+16.8%)
– 5-year price change: +$147,642 (+89.3%)
– Typical home value: $312,924 (#5 most expensive city in metro)
Stacker
#3. Murrayville, GA
– 1-year price change: +$45,258 (+14.0%)
– 5-year price change: +$156,935 (+74.0%)
– Typical home value: $369,113 (#3 most expensive city in metro)
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Stacker
#2. Clermont, GA
– 1-year price change: +$47,115 (+13.9%)
– 5-year price change: +$165,359 (+74.9%)
– Typical home value: $386,132 (#2 most expensive city in metro)
Stacker
#1. Flowery Branch, GA
– 1-year price change: +$54,791 (+15.1%)
– 5-year price change: +$183,680 (+78.4%)
– Typical home value: $418,104 (#1 most expensive city in metro)
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