Miramar Beach · Building Market Report
Grand Dunes
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 Grand Dunes in the trailing 12 months at a median of $2,475,000, with a 94.1% median list-to-sale ratio. On the active side, 0 of 5 listings sit below original list price, and standing inventory works out to 8.6 months of supply at the current sales pace.
The two figures a buyer normally leans on are both missing here, and knowing that they are missing is most of the work. The county assesses these as condominium units, so its roll carries no year built and no living area for a single residence at either address: every one of the 181 parcels returns a year of zero, and floor area is simply not a field the roll fills for this class. That absence is why the building name ends up doing the comparing, and the name is the one thing on this property that is wrong. One name covers two condominiums. State records carry two separate charters, July 2003 and November 2004, and the roll carries two parcel-number series, 89 recorded residences at 219 Scenic Gulf Drive and 88 at 221. They are not two halves of one thing. Unit numbering reaches 1850 at 219 and 2350 at 221, and 221 carries nothing numbered in the thirteen hundreds, the ordinary way a building skips that label, so the second building stands taller than the first by several levels. Two separately chartered associations means two declarations, two budgets, two reserve studies and two inspection clocks, and a figure drawn from one tells a buyer nothing dependable about the other. Position is the second thing the name hides, and it is the one most likely to move a price. Only one parcel on this property reaches the water: the common area recorded to the association at 219, and inside the buildings' own longitude band no other owner's ground lies between it and the sand. The 221 parcels begin about 730 feet inland of that seaward edge, behind the 219 property. So a set of comparable sales assembled under this name mixes residences whose association owns beach frontage with residences whose association does not, and no field on any listing marks the difference. Sort by street number first, then compare. Read the flood mapping the same way, at the parcel rather than at the address. Every special flood hazard designation here sits on that one shoreline strip, which the federal map draws as Zone VE at base flood elevations of 11, 12 and 15 feet with Zone AE at 10 feet behind it. No residence parcel at either address carries any of it. That splits into two different questions rather than one: what a residence pays to insure, which its own elevation certificate settles, and what the association at 219 carries on ground it owns inside a coastal high hazard area, which belongs in its reserves and its insurance. Ask the second question of 219 specifically, because 221 does not have it.
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 |
|---|---|
| 2022 | $2.23M |
| 2023 | $2.2M |
| 2024 | $2.25M |
| 2025 | $2.5M |
| 2026 YTD | $2.39M |
| Period | Value |
|---|---|
| 2022 | $796 |
| 2023 | $772 |
| 2024 | $840 |
| 2025 | $983 |
| 2026 YTD | $991 |
| Period | Value |
|---|---|
| Sep 24 | 0 |
| Oct 24 | 0 |
| Nov 24 | 1 |
| Dec 24 | 1 |
| Jan 25 | 1 |
| Feb 25 | 3 |
| Mar 25 | 0 |
| Apr 25 | 0 |
| May 25 | 0 |
| Jun 25 | 1 |
| Jul 25 | 2 |
| Aug 25 | 3 |
| Sep 25 | 1 |
| Oct 25 | 1 |
| Nov 25 | 1 |
| Dec 25 | 0 |
| Jan 26 | 0 |
| Feb 26 | 3 |
| Mar 26 | 0 |
| Apr 26 | 0 |
| May 26 | 0 |
| Jun 26 | 1 |
| Jul 26 | 0 |
| Aug 26 | 0 |
| Period | Value |
|---|---|
| Sep 24 | No data |
| Oct 24 | No data |
| Nov 24 | Sample too small |
| Dec 24 | Sample too small |
| Jan 25 | Sample too small |
| Feb 25 | $3.25M |
| Mar 25 | No data |
| Apr 25 | No data |
| May 25 | No data |
| Jun 25 | Sample too small |
| Jul 25 | Sample too small |
| Aug 25 | $1.85M |
| 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 | $2.3M |
| Mar 26 | No data |
| Apr 26 | No data |
| May 26 | No data |
| Jun 26 | Sample too small |
| Jul 26 | No data |
| Aug 26 | No data |
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
5 units are on the market at Grand Dunes today:
$1,895,000
221 Scenic Gulf Drive Unit 330
Miramar Beach, FL 32550
$2,495,000
221 Scenic Gulf Drive Unit 320
Miramar Beach, FL 32550
$3,199,999
221 Scenic Gulf Drive Unit 1020
Miramar Beach, FL 32550
$2,695,000
221 Scenic Gulf Drive Unit 250
Miramar Beach, FL 32550
$2,795,000
219 Scenic Gulf Drive Unit 1630
Miramar Beach, FL 32550
The investor file
| Typical acquisition (median, 12 mo) | $2,475,000 |
|---|---|
| Middle-half range (25th-75th pct, 19 priced sales / 24 mo) | $2,050,000 - $2,850,000 |
| Median price, 2022 to 2026 | +7.3% ($2,225,500 to $2,387,500) |
| Average sale price (12 mo) | $2,500,000 |
| Sales volume, trailing 12 months | $17,500,000 |
| Sale price range, trailing 12 months | $1,850,000 - $3,250,000 |
| Bedrooms | Active | Sold (12 mo) | Median Sale Price |
|---|---|---|---|
| 3 BR | 2 | 4 | $2,387,500 |
| 4 BR | 3 | 3 | $3,150,000 |
Based on information from ECAR for the period September 23, 2021 through September 22, 2026.
What similar rentals earn nearby
$323/night
Average Daily Rate
Trailing 12 months, average across Miramar Beach condos, 3-5 bedrooms
52%
Occupancy
Guest, owner and held nights over calendar nights, across Miramar Beach condos, 3-5 bedrooms
55 nights
Owner Use
Owner and maintenance nights per rental, trailing 12 months, across Miramar Beach condos, 3-5 bedrooms
$117 to $482
Monthly Rate Range
Average nightly rate by month, lowest in January, highest in June
355
Rentals Tracked
Units in Miramar Beach condos, 3-5 bedrooms
6 nights
Average Stay
89 days
Booking Window
Average lead time before arrival
Market data by Key Data · 355 similar rentals tracked (Miramar Beach condos, 3-5 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 Grand Dunes. 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: 0 of 5 active listings disclose“Short Term Rental - Allowed”; 5 disclose it is not allowed. Always verify the association's current policy.
The neighborhood: Shipwatch
Grand Dunes sits in or beside the Shipwatch Census neighborhood - the area figures below describe that neighborhood, not this building alone.
Neighborhood Data
Shipwatch at a Glance
6,676
Properties
$548K
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. 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 Grand Dunes in the trailing 12 months, from $1,850,000 to $3,250,000. 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 Grand Dunes?
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
- Florida Department of Revenue cadastral roll, the parcel outlines at 219 and 221 Scenic Gulf Drive (accessed August 23, 2026)
- The same roll selected by recorded name, kept to show why the count moved (accessed August 23, 2026)
- Grand Dunes Condominium Owners' Association, Inc., Florida Division of Corporations (accessed August 21, 2026)
- Grand Dunes II Condominium Owners' Association, Inc., Florida Division of Corporations (accessed August 21, 2026)
- FEMA National Flood Hazard Layer, asked about the beachfront common-area parcel at 219 (accessed August 23, 2026)
- The same federal map asked about the 221 common-area parcel, which returns no hazard at all (accessed August 23, 2026)
- Florida DEP coastal construction control line over this property, Walton County (accessed August 23, 2026)
- Florida Statutes 553.899, milestone structural inspections (accessed August 21, 2026)
- Florida Statutes 718.112, condominium bylaws and reserves (accessed August 21, 2026)