But if they paid more than $2 million during those years, oddly enough, the seller might realize a profit. Gentrification of the urban areas has run rampant through the city and into the suburbs during the past 10 years. This house sold in 2023 for $3.2 million, so the property gained 26% in three years, a gross profit of $850,000. A house selling for $360,000 one year and for almost 10 that price six years later is a stretch, even by gentrification standards. Jernigan’s buyer can rest assured the property will once again bring a high number when it’s time to sell.