Pelican Isle
Condos for Sale in Fort Walton Beach, FL
All 380 homes for sale in Fort Walton Beach, FL · median $399,950 · 177 condos for sale in Fort Walton Beach · 273 homes for sale in 32548 · Okaloosa County homes for sale
True comps, carrying-cost math, and listings before the portals.
Photo via Emerald Coast MLS
As of November 2026, Pelican Isle in Fort Walton Beach, FL has 3 homes for sale. Over the 12 months ending 2026-11-09, 3 recorded sales closed at a median of $380,000, a median 95 days on market, sellers accepting 88% of original asking. Homes listed or recently sold were built 2002–2002; 11 of 11 report an HOA (median $835/mo); 8 of the 10 geocoded homes sit in a FEMA special flood hazard zone (median elevation 8 ft). At the median price and Okaloosa County's FY2025-26 rate of 12.89 mills, annual property tax runs about $4,900 ($4,390 with the full homestead exemption).
Last 30 days in Pelican Isle: 2 under contract right now, 1 closed sale (median $380,000). As of November 11, 2026, Listing data provided by the Emerald Coast Association of REALTORS®. Information is deemed reliable but is not guaranteed by the MLS to be accurate.
Homes For Sale Right Now in Pelican Isle
Live MLS inventory for Pelican Isle. 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 · 81 daysTop listingActive · 48 days
Active · 160 days
Pending · 199 days
Pending · 57 daysActive and pending Pelican Isle listings as of 2026-11-11, 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 Isle is a thin-inventory market right now, with just two active listings and only three closings in the recent window. With numbers this small, the median of $430,000 tells you where the middle of a narrow set landed, not a firm value line — condition and specifics drive price here more than any headline figure.
At a median of 62 days on market, homes are not moving on contact. That posture favors a patient buyer who can negotiate on terms and condition, and it tells a seller to price to the current reality and prepare for a longer runway rather than a bidding war.
Figures in this note are as of July 25, 2026. The live market numbers elsewhere on this page update nightly and are newer.
Pelican Isle right now
🟡 Balanced market. 6.0 months of supply and 40% 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 November 9, 2026. Confidence: Medium (5 active and pending listings, 3 closed sales in 12 months).
Jump to: Price history & scorecard · Homes for sale · Schools · FAQ
· Updated November 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 Isle market snapshot (as of November 9, 2026): the median sale price is about $380K, a median 95 days on market for closed sales, and 6.0 months of supply, a balanced market.
In ZIP 32548 (Fort Walton Beach), 51 homes closed in the last 12 months at a median of $325K, up 10.3% year over year, with a median 57 days on market. Right now 37 active and 10 pending listings put supply at about 8.7 months — a buyer's market. See the live ZIP 32548 housing market and the Okaloosa County market.
Emerald Coast MLS sales records identify 58 homes in PELICAN ISLE that have changed hands since 2002, built between 2002 and 2002 (median 2002), with a median living area of about 820 sq ft and a typical 1-bedroom, 2-bath layout; 100% are condominiums. Source: Emerald Coast MLS closed-sale history compiled by Momentum Research; counts reflect homes with a recorded MLS sale, not every home in the community.
Pelican Isle sits in Fort Walton Beach, in Okaloosa County, and reads as a small, low-turnover pocket where a handful of transactions set the tone. Values here have climbed 123% since 2012, so the longer arc has been upward even if the current pace is measured.
The setting & the homes.
Aerial and on-site photos of Pelican Isle. Swipe to explore the community.
Swipe or use the arrows → tap any photo to enlarge
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Pelican IslePhotos from Emerald Coast MLS listings in Pelican Isle; content deemed reliable but not guaranteed.
Who Pelican Isle is best for.
Best for
- Patient buyers who can wait for the right listing in a market with few active choices
- Buyers around the mid-$400s who value condition and location over shared amenities
- Long-hold buyers comfortable with a market that has moved measurably upward since 2012
Probably not for
- Buyers who need several homes to compare at once
- Buyers set on an amenity-rich community with pools or clubhouses
- Anyone needing a fast, competitive close on a tight timeline
Pelican Isle 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 contributors.
Schools
- Okaloosa County Public Schools
- Verify the zoned schools by address
- Magnet and choice options may be available
- Edwins · Elementary
- Bruner · Middle
- Fort Walton Beach · High
Zoned schools reflect the assignments reported on recent Pelican Isle 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 Pelican Isle address.
Shop the zone: Homes zoned for Fort Walton Beach High School
The Pelican Isle buying strategy.
If we were buying in Pelican Isle 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 Isle.
A small-sample market
The defining fact of Pelican Isle today is scale: two homes listed, three sold recently. In a market this size, a single unusual sale can swing the median, so treat the $430,000 figure as a rough marker rather than a precise benchmark. The real work is comparing a specific home's condition, layout, and lot against the small set of recent activity.
No community amenities surface in current MLS listings, so the value case rests on the homes themselves and on the Fort Walton Beach location rather than shared facilities. Buyers who need an amenity package should confirm what any specific property and its association actually offer before assuming anything.
The location and the amenities are priced into every listing in Pelican Isle. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
Thin markets reward local read over averages. With only a couple of active listings and a short closing history, we help you weigh each home on its own merits, gauge realistic pricing against a small comp set, and negotiate with the leverage that a 62-day pace tends to hand the patient side of the table.
Pelican Isle in 15 seconds.
Tools for a Pelican Isle 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 Isle sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Pelican Isle, 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 Isle home worth?
Get a no-obligation home value based on real comparable sales in Pelican Isle, 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 Fort Walton Beach →
Recently off market in PELICAN ISLE
Homes in PELICAN ISLE 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. 2 on record.
- 866 Santa Rosa Boulevard #106 · off market
- 866 Santa Rosa Boulevard #305 · off market
| Location | Fort Walton Beach, Okaloosa County, FL · ZIP 32548 |
|---|---|
| Home types (current listings and sales) | condos 100% |
| Amenities listed by sellers | Beach, Elevators, TV Cable, Exercise Room, Pool, Waterfront |
| Sale prices, last 12 months | $380,000 median across 3 closed sales |
| Days on market (closed sales) | 95 median |
| For sale right now | 3 active, 2 pending · median asking $439,900 · 6.0 months of supply |
Data as of November 9, 2026. Listing data provided by the Emerald Coast Association of REALTORS®. Information is deemed reliable but is not guaranteed by the MLS to be accurate. Market figures describe homes, not residents. Cite as: Momentum Realty, “Pelican Isle key facts,” movewithmomentum.com/neighborhoods/pelican-isle--okaloosa, data as of November 9, 2026.
Housing distress & ownership in PELICAN ISLE, Fort Walton 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.
Just listed in Pelican Isle
The newest homes for sale in Pelican Isle right now, newest first. Each link opens the full listing with every photo, the price history and a tour request.
- 866 Santa Rosa Boulevard #105 $439,900 · 1 bd · 2 ba · listed Sep 23, 2026 Courtesy of Coldwell Banker Realty
- 866 Santa Rosa #318 $824,900 · 2 bd · 2 ba · listed Aug 21, 2026 Courtesy of Fathom Realty FL LLC
- 866 Santa Rosa Boulevard #102 $425,000 · 1 bd · 2 ba · listed Jun 3, 2026 Courtesy of Scenic Real Estate
Checked against the MLS nightly. All new listings in this market.
Every Home for Sale in Pelican Isle Okaloosa Right Now (5)
All 5 active and pending Pelican Isle Okaloosa listings with a detail page, newest first, refreshed twice a day from the MLS.
- 866 Santa Rosa Boulevard #105 · $439,900 · 1 bd / 2 ba · listed Sep 22, 2026 · listed by Coldwell Banker Realty
- 866 Santa Rosa Boulevard #302 · $425,000 · 1 bd / 2 ba · pending · listed Sep 15, 2026 · listed by The Beach Group Properties LLC
- 866 Santa Rosa #318 · $824,900 · 2 bd / 2 ba · listed Aug 20, 2026 · listed by Fathom Realty FL LLC
- 866 Santa Rosa Boulevard #102 · $425,000 · 1 bd / 2 ba · listed Aug 13, 2026 · listed by Scenic Real Estate
- 866 Santa Rosa Boulevard #506 · $624,000 · 2 bd / 2 ba · pending · listed Aug 13, 2026 · listed by Compass
Recently sold in Pelican Isle Okaloosa
- 866 Santa Rosa Boulevard #305 · sold $380,000
- 866 Santa Rosa Boulevard #106 · sold $260,000
Closed sales from the MLS; each page shows the sold price, taxes and value history.
More Fort Walton Beach home searches
- All homes for sale in Fort Walton Beach, FL
- Homes for sale in Okaloosa County, FL
- Fort Walton Beach pool homes for sale
- Fort Walton Beach waterfront homes for sale
- Gated communities in Fort Walton Beach
- Fort Walton Beach home values: what is my house worth?
- ZIP 32548 housing scorecard
Fort Walton Beach guides & data
- Market data
- Property taxes (Okaloosa County)
- Homestead exemption (Okaloosa County)
- Home insurance cost
- New construction
- New construction (Okaloosa County)
- ZIP codes
- Home builders (Okaloosa County)
Florida buyer guides
- Florida home insurance rates by county
- Florida property tax by county
- Florida property tax calculator
- What flood zone X means
- The 4-point inspection, explained
- Florida flood insurance calculator
- Florida housing market map
- Interactive housing market map (county, ZIP and community)
- Save Our Homes tax estimator
- How to stop a foreclosure in Florida
- Florida documentary stamp tax, explained
- Cheapest places to live in Florida
Real estate agent in Fort Walton Beach? Join Momentum in Fort Walton Beach: 100% commission, one $12K cap.
Streets in this community
Street-level pages: every home on record, what sold and what is for sale on each street.
- Santa Rosa Boulevard (1 homes on record)
What it really costs to own in Pelican Isle
The parts of the monthly number a mortgage calculator leaves out, from the tax roll, the MLS, Citizens and FEMA. Property facts only.
| Property tax | Current owners' bills run a median of $5,036/yr across 5 listings here (MLS tax records, 2026-11-12). |
|---|---|
| HOA dues | Median $855/month across 5 MLS listings (most billed monthly; 2026-11-12). Dues cover what the documents say they cover; ask for the budget and reserve study. |
| Home and flood insurance | The average Citizens Property Insurance premium in Okaloosa County is $2,644/yr (1,101 policies, Citizens detail by county, April 2026); private-market quotes depend on roof age, wind mitigation and construction. |
| Roof and age | Median build year 2002 across 5 listings. An original roof here would be about 24 years old; under Florida's 2022 reform (SB 2-D) carriers may require an inspection past 15 years, so budget for a roof report, and for replacement where it fails. |
Estimated carrying cost at the median asking price, before the mortgage: about $1,495/month (tax $420, HOA $855, insurance $220). An estimate from the sources above, not a quote.
Email me new listings in Pelican Isle
One e-mail a day, only when a home lists here, with price, beds, baths and a link to every listing. Straight from the MLS feed; no account needed.
Ask an agent about Pelican Isle Condos for Sale
Have a question about the homes, fees, rules or commute here? A Momentum agent who works Pelican Isle Condos for Sale will answer, and the answer is published on this page for the next buyer.
11% of homes for sale in ZIP 32548 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 (2026-11-12).
PELICAN ISLE Market Scorecard
PELICAN ISLE is currently a buyer's market. About 6.0 months of supply, a median asking price of $439,900, and homes go under contract in about 83 days.
Typical home value in the 32548 ZIP is $337,209, about 8.4% 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.
Recent Developments in Pelican Isle Okaloosa
Development, infrastructure, retail, and school activity affecting Pelican Isle Okaloosa, tracked by our team and summarized from public reporting and official sources, with links to the original coverage. Last updated November 2026.
- October 2026Infrastructure
Okaloosa outlines Gap Creek drainage projects and permitting hurdles in Fort Walton Beach
County staff described five stormwater efforts, including the Overbrook drainage work, a planned 2.67-acre Sylvania Heights stormwater park estimated at $4 million, and Lloyd Street and Mayflower Avenue improvements expected to go to bid in early 2027. Air Force environmental review and state and Army Corps permits for dredging complicate the timeline.
What it may mean for the marketPlanned drainage upgrades could reduce flooding exposure in the Gap Creek basin over time, though permitting delays mean relief is likely several years out. The site is less than a mile northwest of Pelican Isle Okaloosa.
Source: Get The Coast - October 2026Retail & Dining
7 Brew drive-thru coffee stand opens on Beal Parkway in Fort Walton Beach
The stand at 799 Beal Parkway opened Oct. 19 and is the chain's second in Fort Walton Beach. It is expected to add 75 local jobs, and an opening fundraiser raised $4,661 for an equine therapy nonprofit.
What it may mean for the marketA new drive-thru option along Beal Parkway adds early-morning and late-night food and beverage access and about 75 jobs nearby. The site is about 2 miles northwest of Pelican Isle Okaloosa.
Source: Get The Coast - October 2026Retail & Dining
TJ Maxx to open 33,865-square-foot Destin store Nov. 1 at Paradise Key
The off-price retailer opens at 4437 Commons Drive East with a grand opening from 8 a.m. to 8 p.m. on Nov. 1. Regular hours run 9:30 a.m. to 9:30 p.m. daily, and the store sells apparel, accessories, jewelry, and home and beauty goods.
What it may mean for the marketA new national off-price anchor adds everyday shopping close to Destin's commercial corridor and may shorten trips for retail needs. The project is about 11 miles east of Pelican Isle Okaloosa, elsewhere in Okaloosa County.
Source: Get The Coast - October 2026Parks & Amenities
Okaloosa and Cinco Bayou open upgraded boat ramp with new trailer parking
Okaloosa County and the Town of Cinco Bayou held a ribbon cutting for upgraded boat ramp facilities, including 16 new boat trailer parking spaces, a new restroom and landscaping. The $4.1 million total, funded largely by tourism development funds, also covers the $2.95 million purchase of a former bank building at 198 Eglin Parkway NE. Future dock improvements are planned.
What it may mean for the marketAdded trailer parking and ramp access improve waterfront recreation access for Fort Walton Beach area boaters. The site is less than a mile north of Pelican Isle Okaloosa.
Source: Get The Coast - September 2026Parks & Amenities
Destin and Okaloosa County agree on management of 4-acre Holiday Isle state park
Destin and Okaloosa County unanimously agreed to back Destin as manager and developer of the roughly four-acre state-acquired park on Holiday Isle near Norriego Point. In return, Destin council voted 5-2 to offer free parking to all Okaloosa County residents at city-owned lots and parks. The deal still requires state Board of Trustees and DEP review.
What it may mean for the marketManagement of the Holiday Isle park and city parking rules will affect public waterfront access and parking in Destin. The project is about 6 miles east of Pelican Isle Okaloosa, elsewhere in Okaloosa County.
Source: Get The Coast - June 2026Civic
DeSantis signs state budget with funding for Okaloosa County projects
Governor DeSantis signed the state budget that included roughly $15 million for 20 Okaloosa County projects, among them $5 million for the Northwest Florida State College Workforce Innovation Center in Niceville, $1.5 million for Shalimar Bridge Park, and $3 million for Destin road and drainage work. About $7.26 million in other local requests were vetoed.
What it may mean for the marketDirects state funding toward workforce, park, road, and drainage infrastructure across Okaloosa County, supporting public facilities and capacity in Niceville, Shalimar, and Destin. The site is about 10 miles northeast of Pelican Isle Okaloosa.
Source: Get The Coast
Summaries reflect public reporting and official sources linked above as of the dates shown. Project details, timelines, and approvals can change. Commentary on potential market effects is general observation, not investment advice or a prediction for any specific property. For the freshest items across the whole region, see This Week in Northeast Florida.
Frequently Asked Questions
What is the median home price in Pelican Isle?
How long do homes in Pelican Isle take to sell?
Is Pelican Isle a buyer's or seller's market right now?
Who is the best real estate agent for Pelican Isle?
How do I find a top Fort Walton Beach real estate agent who knows Pelican Isle?
Can Momentum Realty connect me with an agent for Pelican Isle?
Where is Pelican Isle, and what county is it in?
Should you buy in Pelican Isle?
An honest fit check. We will tell you when it is not your community.
Data sources & freshness
| Live listings | Emerald Coast MLS, refreshed twice daily (last: November 11, 2026) |
| Community market stats | Emerald Coast MLS closed sales, 12-month windows ending November 9, 2026 |
| Under-contract shares | Emerald Coast MLS records, as of 2026-11-09 |
| Historical depth | Closed-sale records back to 2026 (3 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.
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See how PELICAN ISLE fits the bigger picture — live prices, inventory, and Momentum Scores: