Destin · Building Market Report
Terrace at Pelican Beach
Every number a buyer, seller, or investor needs on one building: live inventory, closed-sale history, rental benchmarks, and the neighborhood around it - refreshed monthly from MLS and market data.
Inventory updated daily · Sale statistics updated September 22, 2026 · Next statistics update early October 2026
How the building is trading
7 units closed at Terrace at Pelican Beach in the trailing 12 months at a median of $373,000, with a 94.6% median list-to-sale ratio. On the active side, 4 of 9 listings sit below original list price, and standing inventory works out to 15.4 months of supply at the current sales pace.
Two structural facts shape any honest comparable set at this address. Every residence carries the same construction year, so vintage explains nothing and level, exposure and interior condition absorb the whole spread. Then the level numbering skips thirteen, which means a residence labelled on the fourteenth level stands at the thirteenth height above ground; carrying a stated floor across to a neighbouring building without checking that convention will misread the view being paid for. Watch too for the commercial unit recorded under the same legal name, because a sale of that parcel is not a residence sale and does not belong in a residential set. Last, the frontage is not on this parcel. What a particular unit conveys by way of reaching the water is answered in the recorded documents rather than by reading the map, and that answer belongs in the file before an offer.
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 | $488K |
| 2022 | $555K |
| 2023 | $547K |
| 2024 | $610K |
| 2025 | $435K |
| 2026 YTD | $357K |
| Period | Value |
|---|---|
| 2021 | $422 |
| 2022 | $493 |
| 2023 | $504 |
| 2024 | $506 |
| 2025 | $407 |
| 2026 YTD | $330 |
| Period | Value |
|---|---|
| Sep 24 | 0 |
| Oct 24 | 0 |
| Nov 24 | 0 |
| Dec 24 | 1 |
| Jan 25 | 0 |
| Feb 25 | 0 |
| Mar 25 | 1 |
| Apr 25 | 1 |
| May 25 | 0 |
| Jun 25 | 0 |
| Jul 25 | 1 |
| Aug 25 | 3 |
| Sep 25 | 0 |
| Oct 25 | 2 |
| Nov 25 | 1 |
| Dec 25 | 0 |
| Jan 26 | 1 |
| Feb 26 | 0 |
| Mar 26 | 1 |
| Apr 26 | 0 |
| May 26 | 0 |
| Jun 26 | 1 |
| Jul 26 | 1 |
| 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. 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
9 units are on the market at Terrace at Pelican Beach today - a sample of the current file:
$549,900
970 Highway 98 Unit 804
Destin, FL 32541
$550,000
970 U.S. highway 98 Unit 401
Destin, FL 32541
$450,000
970 Highway 98 Unit 503
Destin, FL 32541
$649,900
970 US-98 Unit 1602
Destin, FL 32541
$625,000
970 US 98 Unit 507
Destin, FL 32541
$549,000
970 U.S. 98 Unit 101
Destin, FL 32541
The short-term rental badge above is not a permission of record. It reflects the MLS short-term-rental field where a listing discloses one, and otherwise where the home sits. Confirm the association's current rules and the local registration requirement before relying on it.
The investor file
| Typical acquisition (median, 12 mo) | $373,000 |
|---|---|
| Middle-half range (25th-75th pct, 14 priced sales / 24 mo) | $355,625 - $484,147 |
| Median price, 2021 to 2026 | -26.9% ($487,500 to $356,500) |
| Average sale price (12 mo) | $384,429 |
| Sales volume, trailing 12 months | $2,691,000 |
| Sale price range, trailing 12 months | $335,000 - $485,000 |
| Bedrooms | Active | Sold (12 mo) | Median Sale Price |
|---|---|---|---|
| 2 BR | 3 | 6 | $373,000 |
| 3 BR | 6 | 1 | Sample too small |
Based on information from ECAR for the period September 23, 2021 through September 22, 2026.
What similar rentals earn nearby
$288/night
Average Daily Rate
Trailing 12 months, average across City of Destin condos, 2-4 bedrooms
57%
Occupancy
Guest, owner and held nights over calendar nights, across City of Destin condos, 2-4 bedrooms
48 nights
Owner Use
Owner and maintenance nights per rental, trailing 12 months, across City of Destin condos, 2-4 bedrooms
$105 to $437
Monthly Rate Range
Average nightly rate by month, lowest in January, highest in July
1703
Rentals Tracked
Units in City of Destin condos, 2-4 bedrooms
6 nights
Average Stay
68 days
Booking Window
Average lead time before arrival
Market data by Key Data · 1703 similar rentals tracked (City of Destin condos, 2-4 bedrooms) · Sep 2025 to Aug 2026
Market statistics reflect the trailing performance of similar rental properties in this market, not this specific property, and are opinions of potential performance, not a guarantee of income. Performance varies with management, seasonality, and personal use. Verify rental eligibility and all figures independently.
The rental analysis is for signed-in readers
We publish each home's rental analysis on the signed-in side of the site, not on the open page. With a free account you will find, on the individual listings here that qualify, how rentals similar to that home perform: the average daily rate, occupancy, typical stay and booking window. The segment's daily rate, occupancy and tracked-rental count stay public on this page.
Sign in or create a free accountWhat decides whether a unit here can be rented
These are benchmarks for a segment of comparable rentals, not a finding about Terrace at Pelican Beach. What a unit here may actually do is set by documents, and there are three of them. The recorded declaration sets any minimum lease term. The association's current rules can add stay-length minimums, rental caps, or owner-occupancy requirements the local code does not impose, and a board can change them after a purchase. The city or county that governs this address runs its own short-term-rental registration requirements over both. Request all three in their current form from the association and the local government during diligence, before purchasing with rental income in mind.
Rental rules on the MLS today: 9 of 9 active listings disclose“Short Term Rental - Allowed”. Always verify the association's current policy.
The neighborhood: Dunes of Destin
Terrace at Pelican Beach sits in or beside the Dunes of Destin Census neighborhood - the area figures below describe that neighborhood, not this building alone.
Neighborhood Data
Dunes of Destin at a Glance
5,073
Properties
$624K
Median Home Value
95%
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. Rental benchmarks are market-segment aggregates from Key Data - never figures for a specific unit. Neighborhood figures are LiveBy area estimates built on the U.S. Census American Community Survey.
Why is there no list of individual sold units?
7 units closed at Terrace at Pelican Beach in the trailing 12 months, from $335,000 to $485,000. 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 Terrace at Pelican Beach?
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
- Vacation-rental market data (Key Data) - 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. Rental-income benchmarks are not a guarantee of future performance, so verify independently every time. 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 Terrace at Pelican Beach (accessed August 21, 2026)
- Okaloosa County GIS: SiteAddress layer, 970 Highway 98 East (accessed August 21, 2026)
- Okaloosa County GIS: WaterBodies layer, the two polygons that answer the frontage question (accessed August 21, 2026)
- Okaloosa County GIS: Coastal Construction Control Line layer, the segments nearest this parcel (accessed August 21, 2026)
- Okaloosa County GIS: FEMA FIRM zones, the five polygons falling on this parcel (accessed August 21, 2026)
- Okaloosa County GIS: BuildingFootprints layer, the single structure on this parcel (accessed August 21, 2026)
- Okaloosa County GIS: Parcels layer, the ground between this parcel and the Gulf (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 718.112: Bylaws, budgets and reserves (accessed August 21, 2026)