Terrace at Pelican Beach
Condos for Sale in Destin, FL
True comps, carrying-cost math, and listings before the portals.
Market Heat
Photo via Emerald Coast MLS
As of September 2026, Terrace at Pelican Beach in Destin, FL has 7 homes for sale, asking from $475,000 to $649,900 (median $599,000). Over the 12 months ending 2026-09-12, 9 recorded sales closed at a median of $373,000, a median 144 days on market, sellers accepting 88% of original asking (-23% versus the prior year). Homes listed or recently sold were built 1999–1999; none of the 14 geocoded homes sit in a FEMA special flood hazard zone (median elevation 13 ft). At the median price and Okaloosa County's FY2025-26 rate of 12.89 mills, annual property tax runs about $4,810 ($4,300 with the full homestead exemption).
Homes For Sale Right Now in Terrace at Pelican Beach
Live MLS inventory for Terrace at Pelican Beach. Every active listing, what is under contract right now, and the last 12 months of closed sales, refreshed twice a day. Closed comps beat an algorithm's guess every time.
Active · 14 daysTop listing
Active · 24 days
Active · 142 days
Active · 164 days
Active · 40 days
Active · 220 days
Active · 137 daysActive and pending Terrace at Pelican Beach listings as of 2026-09-12, priced high to low. Listing data provided by the Emerald Coast Association of REALTORS®. Information is deemed reliable but is not guaranteed by the MLS to be accurate. Tap any home to ask about it.
Price here is driven by condition and unit specifics far more than by any list-price signal. These are older, compact coastal units — the median was built in 1994, the stock runs from 1960 to 2004, and the median footprint is a tight 1,126 square feet. At a median of $373,000, you are paying for proximity to the Destin beach corridor, not for square footage, so the spread between a dated unit and an updated one is what actually moves a deal.
The current posture favors a patient buyer. Median days on market sits at 220 — homes here take a long time to trade — and prices are down 23.1% year over year against a market heat score of 11. With only 6 active listings and 11 closings in the window, this is a thin, slow market. Sellers should price to the current reality and expect a long runway; buyers have room to negotiate and little reason to rush.
Terrace at Pelican Beach right now
🟢 Buyer-leaning market. 9.3 months of supply and 0% of the inventory already under contract give buyers above-average negotiating leverage.Why it matters: months of supply is how long today's inventory would last at today's sales pace; under-contract share is the portion of homes for sale that already have a buyer.Momentum Research analysis of Emerald Coast MLS records, as of September 12, 2026. Confidence: High (7 active and pending listings, 9 closed sales in 12 months).
🔴 Off the recent peak. The trailing-12-month median ($373K) is down 23.1% from the prior 12 months ($485K) and up 84% since 2012. With about 7 sales a year, a single closing can swing this number, so read the level and the decade, not one year's move.Momentum Research, record-level Emerald Coast MLS closed sales, 12-month windows ending September 12. Confidence: Low (9 and 5 sales in the two windows).
Jump to: Price history & scorecard · Homes for sale · Schools · FAQ
Updated September 12, 2026 · Live data: Emerald Coast MLS, refreshed twice daily · MLS facts carry their source; interpretation lines are Momentum Research · Data sources & freshness
The 60-Second Overview
Terrace at Pelican Beach market snapshot (as of September 12, 2026): the median sale price is about $373K, a median 144 days on market for closed sales, and 9.3 months of supply, a buyer-leaning market. The trailing-12-month median is down 23% from the prior 12 months and up 84% since 2012, computed from record-level Emerald Coast MLS closed sales (9 closings in the current window).
Terrace at Pelican Beach is a small, older coastal community of 80 homes near the Destin beach corridor in Okaloosa County, built mostly through the 1990s and trading on location and condition rather than size.
The setting & the homes.
Aerial and on-site photos of Terrace at Pelican Beach. Swipe to explore the community.
Swipe or use the arrows → tap any photo to enlarge
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Terrace at Pelican BeachPhotos from Emerald Coast MLS listings in Terrace at Pelican Beach; content deemed reliable but not guaranteed.
Who Terrace at Pelican Beach is best for.
Best for
- A cash or well-qualified buyer seeking a second home or beach-corridor rental who can move slowly and negotiate hard
- A value hunter willing to update a dated unit and hold through a soft patch
- A buyer prioritizing location near the Destin beach over size or amenities
Probably not for
- A buyer who needs more than roughly 1,100 square feet of living space
- Anyone expecting a quick resale or a liquid, fast-moving market
- A buyer who wants community amenities or newer construction
Price History: What Homes Here Have Actually Sold For
Median sale price over the trailing 12 months ending September 12 of each year, from record-level Emerald Coast MLS closed sales. Same methodology as every appreciation figure on this page: the 2026 point ($373K) IS the median in the snapshot above, and the move from 2025 ($485K) IS the -23.1% one-year change.
Windows contain 1 to 10 sales each (9 in the current window); every figure carries its sample size, and thin markets swing on single closings. Listing data provided by the Emerald Coast Association of REALTORS®. Information is deemed reliable but is not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
The real cost & risk here
Before the list price, the Florida math the portals skip. These are Okaloosa County typicals — your exact home, flood zone, and insurance quote will vary, so verify each before you offer.
Check it for your address: look up your flood zone (FEMA) · insurance by county · true-cost calculator · Okaloosa County scorecard.
County typicals from Momentum’s Florida housing data (Zillow & Realtor.com aggregates, Census, FRED), updated monthly; insurance modeled. Flood zone is property-specific — always confirm via FEMA.
TERRACE AT PELICAN BEACH Market Scorecard
TERRACE AT PELICAN BEACH is currently a strong buyer's market. About 9.3 months of supply, a median asking price of $599,000, and homes go under contract in about 137 days.
Typical home value in the 32541 ZIP is $627,422, about 35.3% above the Florida norm (Zillow Home Value Index).
Go deeper: ZIP market scorecard · county scorecard · true cost calculator · affordability calculator.
Live data: realMLS, refreshed twice daily. Typical value: Zillow Research. Market metrics only; these describe homes for sale and recent sales, not residents.
Housing distress & ownership in TERRACE AT PELICAN BEACH, Destin
Who owns here, how much is not owner-occupied, and how much for-sale inventory is under distress.
Source: Momentum Realty Research. Ownership & parcels from the FL DOR 2025 tax roll; distress from MLS active-listing status/remarks; price from MLS closed sales. Listing data provided by the Emerald Coast Association of REALTORS®. Information is deemed reliable but is not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
Terrace at Pelican Beach on the map.
Every active, pending, and recently sold home, plotted. Toggle the layers and tap a home for the details.
Listing locations from Emerald Coast MLS. Map data © OpenStreetMap, tiles © CARTO.
Schools
- Okaloosa County Public Schools
- Verify the zoned schools by address
- Magnet and choice options may be available
- Destin · Elementary
- Destin · Middle
- Destin · High
Zoned schools reflect the assignments reported on recent Terrace at Pelican Beach listings and can change; always confirm with Okaloosa County Public Schools for a specific address.
Buying with schools in mind? We can confirm the exact zoned schools for any Terrace at Pelican Beach address.
The Terrace at Pelican Beach buying strategy.
If we were buying in Terrace at Pelican Beach today, this is the order of operations we would run for our clients.
Underwrite the condition first. Price the roof, HVAC, and systems honestly before judging any list price; condition swings value here more than square footage alone.
Match the home to real comps. Recent sales of similar condition and lot, not the asking price, tell you what a home is worth.
Use your leverage. With inventory sitting, there is room to negotiate on anything dated or overpriced and to ask for repairs or a rate buydown.
Line up financing and inspection early. A pre-approval and an inspection plan let you act fast and negotiate from evidence.
Keep an agent in your corner. The listing agent works for the seller; we represent you and prepare a hand-built valuation before any offer in Terrace at Pelican Beach.
A thin, condition-driven resale market
The numbers describe a slow, buyer-leaning market. A 220-day median time on market and a heat score of 11 tell you nothing sells quickly here, and the 23.1% year-over-year drop underscores that recent momentum has been downward. That said, values are up 109% since 2012, so the long arc has been positive even as the near term softens.
Homestead share sits at 0%, which points to a stock used largely as second homes or rentals rather than primary residences — consistent with a compact, beach-adjacent product. No community amenities were identified from current MLS listings, so budget your value assessment around the unit itself, its condition, and its walk to the beach, not around shared facilities.
The location and the amenities are priced into every listing in Terrace at Pelican Beach. The deal is won or lost on condition, the comps, and the renovation math.
Momentum Buy Score.
Our proprietary 0 to 10 read across the factors that decide how a home in Terrace at Pelican Beach buys, holds, and resells. Momentum Research; not an appraisal.
Momentum Intelligence Scores are our proprietary, qualitative assessment on a 0 to 10 scale, built from the record-level market data on this page. They are a framework for comparing communities, not a guarantee of future value and not advice on a specific home; unlike an automated value estimate they do not price your home, they grade the community on evidence you can inspect. Composite is the plain average of the 4 factors (2.3). Basis: Long-Term Appreciation +84% since 2012; Recent Direction -23.1% year-over-year; Liquidity & Demand 9.3 months of supply; Pricing Power 87.8% sale-to-list. Refreshed with each data update.
Why work with Momentum here
In a market this thin and this slow, generic pricing gets punished. With only a handful of active listings and a long selling runway, we help sellers set a number that reflects today's demand and help buyers read the gap between a dated unit and an updated one — where all the real negotiating leverage lives.
Terrace at Pelican Beach in 15 seconds.
HOA, CDD & Fees
- HOA status not on record. Verify any dues before you offer
- Any club/amenity membership is billed separately
Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.
Tools for a Terrace at Pelican Beach buy.
Free calculators to pressure-test the real cost before you tour.
Selling here is won on condition and pricing to real comps, not an automated estimate. The right number comes from closed Terrace at Pelican Beach sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Terrace at Pelican Beach, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Terrace at Pelican Beach home worth?
Get a no-obligation home value based on real comparable sales in Terrace at Pelican Beach, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
See all homes for sale in Destin →
Recently off market in TERRACE AT PELICAN BEACH
Homes in TERRACE AT PELICAN BEACH that recently left the market. Each address opens its public-record profile: county-recorded value, property taxes, the last recorded sale, community sales history, and what is for sale nearby now. 1 on record.
- 970 Highway 98 #207 · off market
Frequently Asked Questions
What is the median home price in Terrace at Pelican Beach?
How long do homes in Terrace at Pelican Beach take to sell?
Is Terrace at Pelican Beach a buyer's or seller's market right now?
Have Terrace at Pelican Beach home prices gone up?
Who is the best real estate agent for Terrace at Pelican Beach?
How do I find a top Destin real estate agent who knows Terrace at Pelican Beach?
Can Momentum Realty connect me with an agent for Terrace at Pelican Beach?
Should you buy in Terrace at Pelican Beach?
An honest fit check. We will tell you when it is not your community.
Nearby Communities
Explore more neighborhoods near Terrace at Pelican Beach with Momentum Realty’s local guides.
Data sources & freshness
| Live listings | Emerald Coast MLS, refreshed twice daily (last: September 12, 2026) |
| Community market stats | Emerald Coast MLS closed sales, 12-month windows ending September 12, 2026 |
| Under-contract shares | Emerald Coast MLS records, as of 2026-09-08 |
| Historical depth | Closed-sale records back to 1999 (148 transactions analyzed) |
Verify the primary sources yourself: Florida DOR · U.S. Census · FEMA flood maps · Citizens Property Insurance.
Momentum Research figures are our own analysis of Emerald Coast MLS records; MLS data is deemed reliable but not guaranteed. Methodology: how Momentum market scores are computed. Market metrics describe homes for sale and recent sales, not residents.
Own a home here?
You just read the data. Now see what your home is worth.
The numbers on this page move markets in the aggregate. The number that matters to you is what a buyer pays for your address. Momentum sells for 1.25% above the Emerald Coast MLS member average and 8 days faster, and we’ll price yours against live local comps.
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See how TERRACE AT PELICAN BEACH fits the bigger picture — live prices, inventory, and Momentum Scores: