Destin · Building Market Report
One Water Place
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
9 units closed at One Water Place in the trailing 12 months at a median of $1,250,000, with a 92.7% median list-to-sale ratio. On the active side, 7 of 7 listings sit below original list price, and standing inventory works out to 9.3 months of supply at the current sales pace.
Start with what the figures on this page can and cannot be, because the building's own arithmetic settles that before any market does. A pool of 161 residences split across three towers yields few closings at a time, so a single month's building-wide median here moves less with the market than with which tower and which floor happened to trade, and the honest way to work this building is sale by sale rather than aggregate by aggregate. The rental figures say as much about themselves. When a benchmark on this page describes similar rentals tracked across the wider condo market rather than this building alone, that is the label of a pool assembled by city, property type and bedroom count, and none of those three filters can see this building. What such a pool can show is the seasonal shape and the general scale of demand for condos of similar bedroom counts in this market. What it cannot show is anything this property decides for itself: the towers stand beside Choctawhatchee Bay rather than on the Gulf, the ground between them and the water belongs to a golf course company rather than to the association, and the addresses sit on unincorporated county ground that Destin's rental registration never reaches, so whether a given unit may be offered as a rental at all is a question for its recorded declaration and for Okaloosa County, and no benchmark answers it. The sales side has its own constants. Every residential parcel carries the same 2007 construction year, and the flood record describes ground rather than homes, with about a fifth to a quarter of each recorded outline in a special flood hazard area at a base flood elevation of 6 feet, an insurance question the county cannot resolve to a single residence because it draws every unit parcel on the whole site's outline. What actually separates one listing from another is the tower, the floor and the legal description. 400 and 408 Kelly Plantation Drive reach a recorded seventeenth level while 404 stops at a sixteenth, so a stated floor means nothing across buildings without its street number, and six of the 161 carry penthouse rather than unit designations on the county's roll, a distinction a comparable set should carry with it. The count itself is where a careless set goes wrong, and in the direction fewer people expect: all 161 parcels the county classes as condominium under this name are residences, each with its own street address and recorded floor, including seven whose legal descriptions open with the appurtenant parking spaces and whose recorded building values run from $819,000 to $2.4 million, the top of the range and the first sales a text-matched set throws away. Parking, storage and golf cart spaces here are written into the legal descriptions of units rather than titled on their own. So match the tower, match the floor, read what each legal description actually assigns, and use the segment figures for the season's shape, never as evidence about any one unit here.
Year-over-year figures compare the 12 complete calendar months from September 2025 through August 2026 with the 12 before them. That window can differ from the trailing totals above, which run day-precise through September 22, 2026 rather than by whole calendar months.
| Period | Value |
|---|---|
| 2021 | $1.28M |
| 2022 | $1.46M |
| 2023 | $1.5M |
| 2024 | $1.56M |
| 2025 | $1.43M |
| 2026 YTD | $1.45M |
| Period | Value |
|---|---|
| 2021 | $404 |
| 2022 | $432 |
| 2023 | $469 |
| 2024 | $489 |
| 2025 | $465 |
| 2026 YTD | $482 |
| Period | Value |
|---|---|
| Sep 24 | 0 |
| Oct 24 | 0 |
| Nov 24 | 3 |
| Dec 24 | 0 |
| Jan 25 | 2 |
| Feb 25 | 0 |
| Mar 25 | 0 |
| Apr 25 | 2 |
| May 25 | 0 |
| Jun 25 | 3 |
| Jul 25 | 3 |
| Aug 25 | 1 |
| Sep 25 | 2 |
| Oct 25 | 2 |
| Nov 25 | 2 |
| Dec 25 | 0 |
| Jan 26 | 0 |
| Feb 26 | 2 |
| Mar 26 | 0 |
| Apr 26 | 1 |
| May 26 | 0 |
| Jun 26 | 1 |
| Jul 26 | 0 |
| Aug 26 | 1 |
| Period | Value |
|---|---|
| Sep 24 | No data |
| Oct 24 | No data |
| Nov 24 | $1.47M |
| Dec 24 | No data |
| Jan 25 | Sample too small |
| Feb 25 | No data |
| Mar 25 | No data |
| Apr 25 | Sample too small |
| May 25 | No data |
| Jun 25 | $1.55M |
| Jul 25 | $1.05M |
| Aug 25 | Sample too small |
| Sep 25 | Sample too small |
| Oct 25 | Sample too small |
| Nov 25 | Sample too small |
| Dec 25 | No data |
| Jan 26 | No data |
| Feb 26 | Sample too small |
| Mar 26 | No data |
| Apr 26 | Sample too small |
| May 26 | No data |
| Jun 26 | Sample too small |
| Jul 26 | No data |
| Aug 26 | Sample too small |
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. Their last 12 months are the window the year-over-year figures compare.
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 One Water Place today - a sample of the current file:
$1,199,000
400 Kelly Plantation Drive Unit 902
Destin, FL 32541
$1,175,000
400 Kelly Plantation Drive Unit 402
Destin, FL 32541
$1,749,000
404 Kelly Plantation Drive Unit 1008
Destin, FL 32541
$915,000
408 Kelly Plantation Dr Unit 410
Destin, FL 32541
$1,099,000
400 Kelly Plantation Drive Unit 401
Destin, FL 32541
$1,225,000
400 Kelly Plantation Drive Unit 303
Destin, FL 32541
The investor file
| Typical acquisition (median, 12 mo) | $1,250,000 |
|---|---|
| Middle-half range (25th-75th pct, 25 priced sales / 24 mo) | $1,050,000 - $1,600,000 |
| Median price, 2021 to 2026 | +13.3% ($1,280,000 to $1,450,000) |
| Average sale price (12 mo) | $1,364,444 |
| Sales volume, trailing 12 months | $12,280,000 |
| Sale price range, trailing 12 months | $940,000 - $2,100,000 |
| Bedrooms | Active | Sold (12 mo) | Median Sale Price |
|---|---|---|---|
| 2 BR | 1 | 2 | Sample too small |
| 3 BR | 6 | 7 | $1,450,000 |
Based on information from ECAR for the period September 23, 2021 through September 22, 2026.
Rental rules on the MLS today: 0 of 7 active listings disclose“Short Term Rental - Allowed”; 7 disclose it is not allowed. Always verify the association's current policy.
The neighborhood: Regatta
One Water Place sits in or beside the Regatta Census neighborhood - the area figures below describe that neighborhood, not this building alone.
Neighborhood Data
Regatta at a Glance
1,582
Properties
$968K
Median Home Value
41%
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?
9 units closed at One Water Place in the trailing 12 months, from $940,000 to $2,100,000. 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 One Water Place?
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, the One Water Place identifier series (accessed August 23, 2026)
- Okaloosa County GIS: SiteAddress layer, all three Kelly Plantation Drive street numbers (accessed August 23, 2026)
- Florida Department of Revenue: statewide cadastral, the One Water Place identifier series (accessed August 23, 2026)
- Okaloosa County GIS: WaterBodies layer, distance to Choctawhatchee Bay (accessed August 23, 2026)
- Okaloosa County GIS: Parcels layer, the ground between the towers and the bay (accessed August 23, 2026)
- Okaloosa County GIS: FEMA Flood Insurance Rate Map zones over this site (accessed August 23, 2026)
- FEMA: National Flood Hazard Layer over this site (accessed August 23, 2026)
- Okaloosa County GIS: City Limits layer over this site (accessed August 23, 2026)
- US Census Bureau: Geocoder, Incorporated Places (accessed August 21, 2026)
- Florida Statutes 553.899, 2026 compilation: Mandatory structural inspections for condominium and cooperative buildings (accessed August 23, 2026)