Santa Rosa Beach · Neighborhood Market Report
Pelican Bay
Every number a buyer, seller, or investor needs on one neighborhood: live inventory and closed-sale history - refreshed monthly from MLS data.
Inventory updated daily · Sale statistics updated September 28, 2026 · Next statistics update early October 2026
How Pelican Bay is trading
6 homes closed in Pelican Bay in the trailing 12 months at a median of $959,500, with a 95.8% median list-to-sale ratio. On the active side, 3 of 4 listings sit below original list price, and standing inventory works out to 8.0 months of supply at the current sales pace.
Pelican Bay's two plats divide its houses along lines the 2025 parcel roll makes easy to follow. The Phase 1 houses, all addressed on Shelter Cove Drive, sit mostly on lots of about 11,500 to 14,900 square feet, carry about 2,360 to 4,930 square feet of living area, and date from two stretches: 1997 through 2006, then 2019 through 2022. Phase 2 houses run about 1,720 to 4,230 square feet, dated 1996 through 2006 and again from 2010 through 2021, in a phase whose lots range from about 10,900 to 37,700 square feet. A fair comparison for a Pelican Bay sale starts inside its phase and its building stretch, with Phase 2 lot area weighed as a separate question. A vacant Phase 1 lot belongs beside the other vacant Phase 1 lots before any Phase 2 lot, and on Phase 2 the plat's buffer lines belong in that comparison too.
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 28, 2026 rather than by whole calendar months.
| Period | Value |
|---|---|
| 2022 | $803K |
| 2023 | Sample too small |
| 2024 | Sample too small |
| 2025 | $650K |
| 2026 YTD | $985K |
| Period | Value |
|---|---|
| 2022 | $289 |
| 2023 | Sample too small |
| 2024 | Sample too small |
| 2025 | $347 |
| 2026 YTD | $364 |
| Period | Value |
|---|---|
| Sep 24 | 0 |
| Oct 24 | 0 |
| Nov 24 | 0 |
| Dec 24 | 0 |
| Jan 25 | 0 |
| Feb 25 | 0 |
| Mar 25 | 0 |
| Apr 25 | 0 |
| May 25 | 3 |
| Jun 25 | 1 |
| Jul 25 | 0 |
| Aug 25 | 0 |
| Sep 25 | 0 |
| Oct 25 | 1 |
| Nov 25 | 0 |
| Dec 25 | 0 |
| Jan 26 | 0 |
| Feb 26 | 1 |
| Mar 26 | 1 |
| Apr 26 | 0 |
| May 26 | 0 |
| Jun 26 | 1 |
| Jul 26 | 1 |
| Aug 26 | 1 |
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 29, 2021 through September 28, 2026.
From the active file
4 homes are on the market in Pelican Bay today:
$675,000
543 Shelter Cove Drive
Santa Rosa Beach, FL 32459
$849,000
401 Pelican Bay Drive
Santa Rosa Beach, FL 32459
$899,000
98 Wind Spray Court
Santa Rosa Beach, FL 32459
$892,500
74 Pelican Bay Drive
Santa Rosa Beach, FL 32459
The investor file
| Typical acquisition (median, 12 mo) | $959,500 |
|---|---|
| Middle-half range (25th-75th pct, 10 sales / 24 mo) | $716,250 - $1,221,250 |
| Median price, 2022 to 2026 | +22.7% ($803,000 to $985,000) |
| Average sale price (12 mo) | $1,176,500 |
| Sales volume, trailing 12 months | $7,059,000 |
| Sale price range, trailing 12 months | $575,000 - $2,350,000 |
| Bedrooms | Active | Sold (12 mo) | Median Sale Price |
|---|---|---|---|
| 3 BR | 2 | 2 | Sample too small |
| 4 BR | 2 | 3 | $934,000 |
| 5 BR | 0 | 1 | Sample too small |
Based on information from ECAR for the period September 29, 2021 through September 28, 2026.
Rental rules on the MLS today: 0 of 4 active listings disclose“Short Term Rental - Allowed”; 4 disclose it is not allowed. Always verify current rules with the association or county before purchasing with rental income in mind.
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 29, 2021 through September 28, 2026.
Why is there no list of individual sold homes?
6 homes closed in Pelican Bay in the trailing 12 months, from $575,000 to $2,350,000. MLS rules do not allow individual sold listings to be displayed publicly, so this page shows area-level statistics only - ask us for the street-by-street sold review 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 in Pelican Bay?
We track this neighborhood's sales, inventory, and rules every month - get the full picture before you commit.
- MLS market data (ECAR) - updated September 27, 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 28, 2026.
Sources
- Walton County Board of County Commissioners, Regular Meeting minutes, October 26, 1993 (accessed September 24, 2026)
- Walton County Board of County Commissioners, Regular Meeting minutes, August 9, 1994 (accessed September 24, 2026)
- Walton County Board of County Commissioners, Land Use Hearing minutes, December 7, 2004 (accessed September 24, 2026)
- Walton County open planning service, parcel layer: parcels whose legal descriptions name Pelican Bay (accessed September 24, 2026)
- Florida Department of Revenue statewide cadastral, 2025 roll: parcels over Pelican Bay (accessed September 24, 2026)
- Walton County open planning service, streets layer: maintenance entries for the five Pelican Bay street names (accessed September 24, 2026)