"Lot prices have fallen to where builders can come in and build more, and an average buyer can come in a buy a house with the lot prices being a little more aggressive they are able to build a permanent residences,” said Karissa Bell, of Pelican Real Estate.
Karissa Bell has been working for Pelican Real Estates for 12 years.
She says she's seen a big increase in home sales during the last 12 months.
“When interest rates started to fall and there were short sales and foreclosures, people were able to come in as cash buyers and make investments and that has really driven the market,” said Bell.
That same "boom" is taking over the Sandestin real estate market as well.
“We are seeing more properties under contract, and as a result we are seeing more closed sales, and the whole time we are seeing a decrease in total inventory,” said Shannon Williams, of Sandestin Real Estates.
The main reasons, the economy, and more people are confident taking on a new mortgage.
“Sellers are getting more to their asking price, buyers are getting better deals, we are seeing more cash buyers so there are less people with mortgages,” said Williams.
Both Williams and Bell predict the market will continue to improve for at least the immediate future.
Williams says Sandestin had more than over 800 properties listed for sale three years ago.
Right now that number is a little more than 200 homes.