Pelican Bay
Homes for Sale in Santa Rosa Beach, FL
True comps, carrying-cost math, and listings before the portals.
Photo via Emerald Coast MLS
Pelican Bay is a small pocket in Santa Rosa Beach, with just 85 homes and a build range spanning 1985 to 2024. That nearly four-decade spread is the story: what sets price here isn't a single vintage but condition and how far a given home has been updated. The median sits at $934,000 on roughly 2,760 square feet, but with a range this wide, two homes at similar size can trade very differently depending on their level of renovation.
At the moment only 2 homes are active, and the last closings moved at a median of 21 days. Thin inventory in a small community means individual listings carry outsized weight — one well-priced home can reset expectations, and one overpriced one can sit and distort the read. Sellers have leverage while supply stays this low; buyers should be ready to move on the right home rather than wait for a wave of options that isn't coming.
Pelican Bay right now
🟡 Balanced market. 3.0 months of supply and 50% of the inventory already under contract put buyers and sellers on roughly even footing.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: Medium (2 active and pending listings, 4 closed sales in 12 months).
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
Pelican Bay market snapshot (as of September 12, 2026): the median sale price is about $924K, a median 14 days on market for closed sales, and 3.0 months of supply, a balanced market.
Pelican Bay is a community of 68 homes in Santa Rosa Beach, Walton County, built between 1985 and 2024 (median 2005), with a median living area of about 2,688 square feet. 67% of parcels are homesteaded, the owner-occupancy proxy in the Florida DOR assessment roll (2025 roll, public records).
This is a compact, established enclave rather than a large master-planned community, and with roughly two-thirds of homes homesteaded, most are owner-occupied rather than investor turnover.
The setting & the homes.
Aerial and on-site photos of Pelican Bay. Swipe to explore the community.
Swipe or use the arrows → tap any photo to enlarge
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Pelican BayPhotos from Emerald Coast MLS listings in Pelican Bay; content deemed reliable but not guaranteed.
Who Pelican Bay is best for.
Best for
- Buyers comfortable around the mid-$900s who want a primary residence they intend to hold
- Renovation-minded buyers willing to trade an older vintage for value and put in the work
- Buyers who value an established, owner-occupied setting over shared community facilities
Probably not for
- Buyers needing a wide selection to compare, given only two active listings
- Buyers who require pools, clubhouses, or other shared amenities on site
- Investors chasing quick turnover in a community where most homes are held long term
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 ($924K) IS the median in the snapshot above.
Windows contain 0 to 4 sales each (4 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.
21% of homes for sale in ZIP 32459 are already under contract (under contract ÷ under contract + active listings) — a read on how much of the available inventory buyers have already claimed. Source: MLS data (2026-09-08).
Pelican Bay Market Scorecard
Pelican Bay is currently a balanced market. About 3.0 months of supply, a median asking price of $899,000, and homes go under contract in about 126 days.
Go deeper: ZIP market scorecard · county scorecard · true cost calculator · affordability calculator.
Live data: Emerald Coast MLS, refreshed twice daily. Market metrics only; these describe homes for sale and recent sales, not residents.
Housing distress & ownership in PELICAN BAY, Santa Rosa Beach
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.
Homes For Sale Right Now in Pelican Bay
Live MLS inventory for Pelican Bay. 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 · 126 daysTop listingActive · 1 daysPending · 74 daysActive and pending Pelican Bay listings as of 2026-09-15, 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.
Pelican Bay 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
- Walton County Public Schools
- Verify the zoned schools by address
- Magnet and choice options may be available
- Van R Butler · Elementary
- Emerald Coast · Middle
- South Walton · High
Zoned schools reflect the assignments reported on recent Pelican Bay listings and can change; always confirm with Walton County Public Schools for a specific address.
Buying with schools in mind? We can confirm the exact zoned schools for any Pelican Bay address.
The Pelican Bay buying strategy.
If we were buying in Pelican Bay 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.
Move deliberately, not desperately. Neither side has a decisive edge, so a well-prepared, fairly-priced offer wins without overpaying.
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 Pelican Bay.
A small pool, a wide vintage spread
With 85 homes and a median year built around 2004, Pelican Bay blends mid-1980s original construction with product as new as 2024. Practically, that means you are shopping condition first. The median living area near 2,760 square feet gives you a useful benchmark, but the number that will actually move your offer is how recently a given home's systems, kitchen, and baths have been touched.
No community amenities surfaced in the current MLS listings, so buy this location for the homes and the Santa Rosa Beach setting rather than for shared facilities. The homestead share above two-thirds points to a stable, owner-held community where listings are relatively infrequent — good for long-term hold value, less good if you need selection on your timeline.
The location and the amenities are priced into every listing in Pelican Bay. 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 Pelican Bay 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 3 factors (7.4). Basis: Liquidity & Demand 3.0 months of supply; Owner Commitment 67% owner-occupied; Pricing Power 98.0% sale-to-list. Refreshed with each data update.
Why work with Momentum here
In a community this small with only a couple of homes active at a time, comparable sales are scarce and each one matters. We price and negotiate off condition, not just square footage, and we know how to read whether a 21-day median means a home is genuinely in demand or simply well-priced. That judgment is where deals are won or lost when the data set is thin.
Pelican Bay 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 Pelican Bay 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 Pelican Bay sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Pelican Bay, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Pelican Bay home worth?
Get a no-obligation home value based on real comparable sales in Pelican Bay, 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 homes for sale in Pelican Bay on the map →
Frequently Asked Questions
What is the median home price in Pelican Bay?
How long do homes in Pelican Bay take to sell?
Is Pelican Bay a buyer's or seller's market right now?
How many homes are in Pelican Bay?
What share of Pelican Bay is owner-occupied?
When were the homes in Pelican Bay built?
Who is the best real estate agent for Pelican Bay?
How do I find a top Santa Rosa Beach real estate agent who knows Pelican Bay?
Can Momentum Realty connect me with an agent for Pelican Bay?
Should you buy in Pelican Bay?
An honest fit check. We will tell you when it is not your community.
Nearby Communities
Explore more neighborhoods near Pelican Bay with Momentum Realty’s local guides.
Data sources & freshness
| Live listings | Emerald Coast MLS, refreshed twice daily (last: September 15, 2026) |
| Community market stats | Emerald Coast MLS closed sales, 12-month windows ending September 12, 2026 |
| Housing stock & ownership | Florida DOR assessment roll (street-list match (2 streets, ZIP 32459)) |
| Under-contract shares | Emerald Coast MLS records, as of 2026-09-08 |
| Historical depth | Closed-sale records back to 2003 (37 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.
Looking to buy here? Search homes for sale →
What’s your home worth in your area?
A real valuation with real comps from a local listing agent, not an instant algorithm. Response within one business day.
See how PELICAN BAY fits the bigger picture — live prices, inventory, and Momentum Scores: