Fort Walton Beach · Building Market Report
Island Princess Market Analytics
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 November 1, 2026 · Next statistics update early December 2026
How the building is trading
8 units closed at Island Princess in the trailing 12 months at a median of $600,000, with a 93.8% median list-to-sale ratio. On the active side, 3 of 4 listings sit below original list price, and standing inventory works out to 6.0 months of supply at the current sales pace.
Island Princess is four small markets inside one building. The roll records homes at 804, 887, 1,089 and 1,347 square feet, and the two largest plans account for 124 of the 137, so a building-wide median mostly reports which plan happened to sell. Compare like plan with like plan, using the last two digits of the unit number as the key, since each stack repeats one size from the 100 series to the 700 series, then compare series within a stack. The commercial-class interest, C1, is not a home and belongs outside any residential count. Flood exposure varies by position too, because FEMA splits the outline across four areas, so a unit's own elevation certificate can matter more than the building's label.
| Period | Value |
|---|---|
| 2025 | $663K |
| 2026 YTD | $563K |
| Period | Value |
|---|---|
| 2025 | $526 |
| 2026 YTD | $517 |
| Period | Value |
|---|---|
| Nov 24 | 0 |
| Dec 24 | 0 |
| Jan 25 | 0 |
| Feb 25 | 1 |
| Mar 25 | 0 |
| Apr 25 | 0 |
| May 25 | 0 |
| Jun 25 | 0 |
| Jul 25 | 0 |
| Aug 25 | 0 |
| Sep 25 | 1 |
| Oct 25 | 0 |
| Nov 25 | 1 |
| Dec 25 | 1 |
| Jan 26 | 1 |
| Feb 26 | 1 |
| Mar 26 | 0 |
| Apr 26 | 0 |
| May 26 | 1 |
| Jun 26 | 0 |
| Jul 26 | 1 |
| Aug 26 | 1 |
| Sep 26 | 1 |
| Oct 26 | 0 |
The monthly charts cover the 24 complete calendar months from November 2024 through October 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 November 1, 2026 rather than by whole calendar months.
Based on information from ECAR for the period November 2, 2021 through November 1, 2026.
From the active file
4 units are on the market at Island Princess today:
$524,995
520 Santa Rosa Boulevard Unit 113
Fort Walton Beach, FL 32548
$725,000
520 Santa Rosa Boulevard Unit 411
Fort Walton Beach, FL 32548
$614,900
520 Santa Rosa Blvd Unit 109
Fort Walton Beach, FL 32548
$595,000
520 Santa Rosa Boulevard Unit 217
Fort Walton Beach, FL 32548
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) | $600,000 |
|---|---|
| Middle-half range (25th-75th pct, 10 priced sales / 24 mo) | $561,250 - $668,750 |
| Median price, 2025 to 2026 | -15.1% ($662,500 to $562,500) |
| Average sale price (12 mo) | $601,875 |
| Sales volume, trailing 12 months | $4,815,000 |
| Sale price range, trailing 12 months | $470,000 - $710,000 |
| Bedrooms | Active | Sold (12 mo) | Median Sale Price |
|---|---|---|---|
| 2 BR | 2 | 5 | $560,000 |
| 3 BR | 2 | 3 | $675,000 |
Based on information from ECAR for the period November 2, 2021 through November 1, 2026.
What similar rentals earn nearby
$291/night
Average Daily Rate
Trailing 12 months, average across Okaloosa County condos, 2-4 bedrooms
58%
Occupancy
Guest, owner and held nights over calendar nights, across Okaloosa County condos, 2-4 bedrooms
49 nights
Owner Use
Owner and maintenance nights per rental, trailing 12 months, across Okaloosa County condos, 2-4 bedrooms
$101 to $448
Monthly Rate Range
Average nightly rate by month, lowest in January, highest in June
2812
Rentals Tracked
Units in Okaloosa County condos, 2-4 bedrooms
6 nights
Average Stay
73 days
Booking Window
Average lead time before arrival
Market data by Key Data · 2812 similar rentals tracked (Okaloosa County condos, 2-4 bedrooms) · Nov 2025 to Oct 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 Island Princess. 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. Unincorporated Okaloosa County, not the City of Fort Walton Beach. 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: 4 of 4 active listings disclose"Short Term Rental - Allowed". Always verify the association's current policy.
The neighborhood: Waterscape
Island Princess sits in or beside the Waterscape Census neighborhood - the area figures below describe that neighborhood, not this building alone.
Neighborhood Data
Waterscape at a Glance
1,018
Properties
$452K
Median Home Value
87%
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 November 2, 2021 through November 1, 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?
8 units closed at Island Princess in the trailing 12 months, from $470,000 to $710,000. 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 Island Princess?
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 November 1, 2026
- Vacation-rental market data (Key Data) - updated November 1, 2026
- Neighborhood data (LiveBy / U.S. Census ACS) - updated November 1, 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 November 1, 2026.
Sources
- Florida statewide parcel roll, Island Princess, 520 Santa Rosa Boulevard (accessed October 17, 2026)
- Census place boundaries at Island Princess's point (accessed October 17, 2026)
- FEMA National Flood Hazard Layer at Island Princess's point (accessed October 17, 2026)
- Okaloosa Island protective covenants, recorded in Official Records Book 121 (accessed October 17, 2026)
- Okaloosa County memorandum on regulating short-term rentals (accessed October 17, 2026)
- 2026 Florida Statutes, section 553.899 (accessed October 17, 2026)