Destin · Building Market Report
The Islander
Every number a buyer, seller, or investor needs on one building: live inventory, closed-sale history, and the neighborhood around it - refreshed monthly from MLS data.
Inventory updated daily · Sale statistics updated September 22, 2026 · Next statistics update early October 2026
How the building is trading
8 units closed at The Islander in the trailing 12 months at a median of $437,500, with a 96.7% median list-to-sale ratio. On the active side, 3 of 7 listings sit below original list price, and standing inventory works out to 10.5 months of supply at the current sales pace.
The dividing line worth sorting on is not the address, since all 127 residences share one, but which recorded phase a unit sits in. Phase I and Phase II carry construction years three years apart, separate legal names and separate instruments, and, most consequentially, different flood mapping: the coastal high hazard zone reaches only the shoreward phase. Insurance treatment and lender requirements can therefore differ between two units in one continuous building, which is a real adjustment rather than an atmospheric one, and it will not show up in a set assembled from the street address alone. Level is the second variable, running one through seven on the county record. Both phases are also well past the age at which Florida's milestone structural inspection falls due, a clock the statute starts at the occupancy certificate rather than at the year an appraiser records, so where each phase stands on that schedule belongs in the comparison before any figure does.
| Period | Value |
|---|---|
| 2022 | $500K |
| 2023 | $524K |
| 2024 | Sample too small |
| 2025 | $450K |
| 2026 YTD | $435K |
| Period | Value |
|---|---|
| 2022 | $507 |
| 2023 | $530 |
| 2024 | Sample too small |
| 2025 | $456 |
| 2026 YTD | $441 |
| Period | Value |
|---|---|
| Sep 24 | 0 |
| Oct 24 | 0 |
| Nov 24 | 0 |
| Dec 24 | 0 |
| Jan 25 | 0 |
| Feb 25 | 0 |
| Mar 25 | 1 |
| Apr 25 | 1 |
| May 25 | 0 |
| Jun 25 | 0 |
| Jul 25 | 0 |
| Aug 25 | 0 |
| Sep 25 | 1 |
| Oct 25 | 1 |
| Nov 25 | 0 |
| Dec 25 | 1 |
| Jan 26 | 1 |
| Feb 26 | 0 |
| Mar 26 | 0 |
| Apr 26 | 1 |
| May 26 | 0 |
| Jun 26 | 1 |
| Jul 26 | 2 |
| Aug 26 | 0 |
The monthly charts cover the 24 complete calendar months from September 2024 through August 2026, and a month with no closings is a zero bar rather than a gap. Those 12 months can differ from the trailing totals above, which run day-precise through September 22, 2026 rather than by whole calendar months.
Based on information from ECAR for the period September 23, 2021 through September 22, 2026.
From the active file
7 units are on the market at The Islander today - a sample of the current file:
$475,000
502 Gulf Shore Drive Unit 205
Destin, FL 32541
$450,000
502 Gulf Shore Drive Unit 311
Destin, FL 32541
$407,000
502 Gulf Shore Drive Unit 410
Destin, FL 32541
$399,000
502 Gulf Shore Drive Unit 215
Destin, FL 32541
$389,900
502 Gulf Shore Drive Unit 315
Destin, FL 32541
$423,500
502 Gulf Shore Drive Unit 314
Destin, FL 32541
The investor file
| Typical acquisition (median, 12 mo) | $437,500 |
|---|---|
| Middle-half range (25th-75th pct, 10 priced sales / 24 mo) | $435,000 - $450,000 |
| Median price, 2022 to 2026 | -13.0% ($500,000 to $435,000) |
| Average sale price (12 mo) | $432,500 |
| Sales volume, trailing 12 months | $3,460,000 |
| Sale price range, trailing 12 months | $380,000 - $455,000 |
| Bedrooms | Active | Sold (12 mo) | Median Sale Price |
|---|---|---|---|
| 2 BR | 7 | 7 | $435,000 |
1 of the trailing-12 closings does not carry a recorded bedroom count and cannot appear in these rows.
Based on information from ECAR for the period September 23, 2021 through September 22, 2026.
Short-term rental permission varies here
The building guide for The Islander reports short-term rental permission as tower by tower rather than resort wide, so we publish no nightly-rental performance benchmarks for this building: one building-wide range would speak for towers that do not share an answer. That reporting covers short stays only, and says nothing either way about longer tenancy. The recorded declaration is what sets any minimum lease term, so read it, and confirm the association's current rental policy directly, before purchasing with rental income in mind.
Rental rules on the MLS today: 7 of 7 active listings disclose“Short Term Rental - Allowed”. Always verify the association's current policy.
The neighborhood: Holiday Isle
The Islander sits in or beside the Holiday Isle Census neighborhood - the area figures below describe that neighborhood, not this building alone.
Neighborhood Data
Holiday Isle at a Glance
9,937
Properties
$629K
Median Home Value
92%
Second Homes / Seasonal
Source: LiveBy, via the U.S. Census Bureau American Community Survey 2023. Figures are area estimates for general market context.
Demographic information is provided for general informational purposes only and must not be used to make housing decisions on the basis of race, color, religion, sex, familial status, national origin, disability, or any other protected class. Dream Destin Realty supports the Fair Housing Act and equal-opportunity housing.
Reading this file
Where do these numbers come from?
Sale and inventory statistics are computed from ECAR MLS data by Dream Destin Realty and refreshed on a 30-day cycle. Based on information from ECAR for the period September 23, 2021 through September 22, 2026. Neighborhood figures are LiveBy area estimates built on the U.S. Census American Community Survey.
Why is there no list of individual sold units?
8 units closed at The Islander in the trailing 12 months, from $380,000 to $455,000. MLS rules do not allow individual sold listings to be displayed publicly, so this page shows building-level statistics only - ask us for the unit-by-unitsold report and we'll walk you through it.
How are thin samples handled?
Any figure computed from fewer than three sales is withheld rather than published - a one-sale “median” is just that sale's price. Counts always show; prices earn their way onto the page.
Thinking about buying or selling at The Islander?
We track this building's sales and fees every month, and keep its rental rules on file - get the full picture before you commit.
- MLS market data (ECAR) - updated September 21, 2026
- Neighborhood data (LiveBy / U.S. Census ACS) - updated September 21, 2026
Sale and inventory statistics are computed from ECAR MLS data by Dream Destin Realty.
Market statistics on this page are provided for informational purposes only. Information is deemed reliable but not guaranteed, and figures are not a guarantee of future market performance. These figures are not tax, legal, or investment advice; consult the appropriate licensed professional before making a financial decision. Data as of September 22, 2026.
Sources
- Okaloosa County GIS: Parcels layer, Islander Phase I and Ph II (accessed August 21, 2026)
- Okaloosa County GIS: SiteAddress layer, 502 Gulf Shore Drive (accessed August 21, 2026)
- Okaloosa County GIS: WaterBodies layer, tested against each phase's parcel (accessed August 21, 2026)
- Okaloosa County GIS: BuildingFootprints layer, the structure spanning both phases (accessed August 21, 2026)
- Okaloosa County GIS: Coastal Construction Control Line layer, the segments crossing this ground (accessed August 21, 2026)
- Okaloosa County GIS: FEMA FIRM zones, the polygons falling on each phase (accessed August 21, 2026)
- US Census Bureau: Geocoder, Incorporated Places (accessed August 21, 2026)
- City of Destin: Short Term Rentals (accessed August 21, 2026)
- Florida Statutes 553.899: Mandatory structural inspections for condominium and cooperative buildings (accessed August 21, 2026)
- Florida Statutes 509.2112: Public lodging establishments three stories or more in height (accessed August 21, 2026)