Sumnmerville, Georgia has made a top twenty list for areas in the nation that have seen huge increases in real estate prices over the past three years.
According to the report from Better Mortgage, Summerville ranked #17 nationwide in the areas that have seen a dramatic increase in real estate prices.
The report states:
Summerville, Georgia, has seen dwindling population numbers in recent decades, but its proximity to Chattanooga, Tennessee turned it into a hot spot for real estate. In 2020, as home prices skyrocketed in Chattanooga—located 40 miles away—buyers turned to more affordable areas like Summerville to purchase real estate instead. But with just under 4,500 residents, the small town of Summerville didn’t have a ton of available home inventory to offer buyers—new construction or otherwise. This inventory shortage led buyers to offer much higher purchase prices than asking for the homes that were available—which drove up the sales prices to new height
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