Yes, if you can substantially increase supply in the top decile or quartile, in terms of desirability.
That's difficult, for all sorts of reasons. NIMBYs protecting their investment is one aspect, but the maths of density, transport infrastructure and travel times is another big deal.
Walkable, interesting downtowns AND big floorplans AND low taxes AND abundant supply within a short travel time is a tough set of constraints.
Positional goods cease to be so if you substantially increase their supply - this is why Rolex, Gucci, etc are constantly worried about knockoffs.