Terrace at Pelican Beach
Condos for Sale in Destin, FL
All 570 homes for sale in Destin, FL · median $639,450 · 338 condos for sale in Destin · 569 homes for sale in 32541 · Okaloosa County homes for sale
True comps, carrying-cost math, and listings before the portals.
Photo via Emerald Coast MLS
As of November 2026, Terrace at Pelican Beach in Destin, FL has 8 homes for sale, asking from $450,000 to $635,000 (median $549,450). Over the 12 months ending 2026-11-09, 3 recorded sales closed at a median of $485,000, a median 23 days on market, sellers accepting 97% of original asking. Homes listed or recently sold were built 1999–1999; 15 of 15 report an HOA (median $1,250/mo); none of the 15 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 $6,250 ($5,740 with the full homestead exemption).
Last 30 days in Terrace at Pelican Beach: 1 new listing (median asking $599,000). 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 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 · 72 daysTop listing
Active · 82 daysActive · 27 days
Active · 46 days
Active · 98 days
Active · 42 days
Active · 278 days
Active · 61 daysActive and pending Terrace at Pelican Beach listings as of 2026-11-10, 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.
Figures in this note are as of July 25, 2026. The live market numbers elsewhere on this page update nightly and are newer.
Terrace at Pelican Beach right now
🟢 Buyer-leaning market. 13.7 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 November 9, 2026. Confidence: Medium (8 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
Terrace at Pelican Beach market snapshot (as of November 9, 2026): the median sale price is about $485K, a median 23 days on market for closed sales, and 13.7 months of supply, a buyer-leaning market.
In ZIP 32541 (Destin), 150 homes closed in the last 12 months at a median of $740K ($199/sq ft), down 17.6% year over year, with a median 103 days on market. Right now 190 active and 16 pending listings put supply at about 15.2 months — a soft market. See the live ZIP 32541 housing market and the Okaloosa County market.
Emerald Coast MLS sales records identify 62 homes in TERRACE AT PELICAN BEACH that have changed hands since 2002, built between 1996 and 1999 (median 1999), with a median living area of about 1,072 sq ft and a typical 2-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.
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
Terrace at Pelican BeachTerrace at Pelican BeachTerrace at Pelican BeachTerrace at Pelican BeachTerrace at Pelican BeachTerrace at Pelican BeachTerrace at Pelican BeachTerrace 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
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 contributors.
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.
Shop the zone: Homes zoned for Fort Walton Beach High School · Homes zoned for Destin High School
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.
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.
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. 5 on record.
- 970 E Highway 98 #Unit 505 · off market
- 970 E Hwy 98 #301 · off market
- 970 Highway 98 #207 · off market
- 970 Highway 98 #804 · off market
- 970 Us-98 #1207 · off market
| Location | Destin, Okaloosa County, FL · ZIP 32541 |
|---|---|
| Home types (current listings and sales) | condos 100% |
| Amenities listed by sellers | BBQ Pit/Grill, Elevators, Exercise Room, Pool, Short Term Rental - Allowed, Beach |
| Sale prices, last 12 months | $485,000 median across 3 closed sales |
| Days on market (closed sales) | 23 median |
| For sale right now | 8 active, 0 pending · median asking $549,450 · 13.7 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, “Terrace at Pelican Beach key facts,” movewithmomentum.com/neighborhoods/terrace-at-pelican-beach, data as of November 9, 2026.
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.
Just listed in Terrace at Pelican Beach
The newest homes for sale in Terrace at Pelican Beach right now, newest first. Each link opens the full listing with every photo, the price history and a tour request.
- 970 US 98 #407 $599,000 · 3 bd · 3 ba · listed Oct 14, 2026 Courtesy of Coldwell Banker Realty
- 970 U.S. Highway 98 #401 $540,000 · 3 bd · 3 ba · listed Sep 29, 2026 Courtesy of Pinnacle Beach Properties
- 970 Highway 98 #503 $450,000 · 2 bd · 2 ba · listed Sep 10, 2026 Courtesy of Keller Williams Realty Destin
- 970 Us-98 #1602 $635,000 · 3 bd · 2 ba · listed Aug 30, 2026 Courtesy of Coldwell Banker Realty
- 970 US 98 #507 $625,000 · 3 bd · 3 ba · listed Aug 20, 2026 Courtesy of EXP Realty LLC
- 970 U.S. 98 #101 $549,000 · 3 bd · 3 ba · listed Aug 4, 2026 Courtesy of Southern Luxury Realty
Checked against the MLS nightly. All new listings in this market.
Every Home for Sale in Terrace At Pelican Beach Right Now (8)
All 8 active and pending Terrace At Pelican Beach listings with a detail page, newest first, refreshed twice a day from the MLS.
- 970 US 98 #407 · $599,000 · 3 bd / 3 ba · listed Oct 13, 2026 · listed by Coldwell Banker Realty
- 970 U.S. highway 98 #401 · $540,000 · 3 bd / 3 ba · listed Sep 28, 2026 · listed by Pinnacle Beach Properties
- 970 Highway 98 #804 · $549,900 · 3 bd / 2 ba · listed Sep 24, 2026 · listed by Adams Real Estate Inc
- 970 Highway 98 #503 · $450,000 · 2 bd / 2 ba · listed Sep 9, 2026 · listed by Keller Williams Realty Destin
- 970 Us-98 #1602 · $635,000 · 3 bd / 2 ba · listed Aug 29, 2026 · listed by Coldwell Banker Realty
- 970 US 98 #507 · $625,000 · 3 bd / 3 ba · listed Aug 19, 2026 · listed by EXP Realty LLC
- 970 U.S. 98 #101 · $549,000 · 3 bd / 3 ba · listed Aug 13, 2026 · listed by Southern Luxury Realty
- 970 Highway 98 #1106 · $475,000 · 2 bd / 2 ba · listed Aug 13, 2026 · listed by Lead Realty
More Destin home searches
- All homes for sale in Destin, FL
- Homes for sale in Okaloosa County, FL
- Destin pool homes for sale
- Destin waterfront homes for sale
- Gated communities in Destin
- Destin home values: what is my house worth?
Destin guides & data
- Market data
- Best neighborhoods (ranked by data)
- Flood zones
- Property taxes (Okaloosa County)
- Homestead exemption (Okaloosa County)
- Home insurance cost
- New construction
- New construction (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 Destin? Join Momentum in Destin: 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.
- E Highway 98 (1 homes on record)
- Highway 98 (1 homes on record)
11% of homes for sale in ZIP 32541 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).
TERRACE AT PELICAN BEACH Market Scorecard
TERRACE AT PELICAN BEACH is currently a strong buyer's market. About 13.7 months of supply, a median asking price of $549,450, and homes go under contract in about 68 days.
Typical home value in the 32541 ZIP is $619,416, about 36.8% 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.
What it really costs to own in Terrace at Pelican Beach
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 $4,537/yr across 3 listings here (MLS tax records, 2026-11-12). |
|---|---|
| HOA dues | Median $1,066/month across 8 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 1999 across 7 listings. An original roof here would be about 27 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 $1,664/month (tax $378, HOA $1,066, insurance $220). An estimate from the sources above, not a quote.
Email me new listings in Terrace at Pelican Beach
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 Terrace at Pelican Beach Condos for Sale
Have a question about the homes, fees, rules or commute here? A Momentum agent who works Terrace at Pelican Beach Condos for Sale will answer, and the answer is published on this page for the next buyer.
Recent Developments in Terrace At Pelican Beach
Development, infrastructure, retail, and school activity affecting Terrace At Pelican Beach, tracked by our team and summarized from public reporting and official sources, with links to the original coverage. Last updated November 2026.
- 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 site is about 4 miles east of Terrace At Pelican Beach.
Source: Get The Coast - 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 project is about 7 miles west of Terrace At Pelican Beach, elsewhere in Okaloosa County.
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 project is about 8 miles west of Terrace At Pelican Beach, 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 project is about 7 miles west of Terrace At Pelican Beach, elsewhere in Okaloosa County.
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 site is about 1 mile west of Terrace At Pelican Beach.
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 9 miles north of Terrace At Pelican Beach.
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 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?
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?
Where is Terrace at Pelican Beach, and what county is it in?
Should you buy in Terrace at Pelican Beach?
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 10, 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.
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. A Momentum agent can 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 TERRACE AT PELICAN BEACH fits the bigger picture — live prices, inventory, and Momentum Scores: