Pelican Beach Resort

The resort towers and the Terrace are priced like two different buildings, because they are

Pelican Beach Resort sits at 1002 East Highway 98 in Destin, on the Gulf side of the highway. The two resort towers were finished in 1997 and 1998. The Terrace at Pelican Beach followed in 1999 and shares the name and the amenities, but it is a separate building, and the MLS treats it as one. So do buyers, and the numbers show it.

What sold in the last twelve months

In the resort towers, thirteen units closed between October 2025 and September 2026, down from nineteen the year before. They averaged $618,077, with closings between $500,000 and $840,000, and sold for 95.1% of their original asking price after an average of 101 days on the market. At $662 a square foot this is one of the higher per-foot prices on the Destin strip, and that is what a Gulf-front, mid-nineties tower with a rental calendar tends to command.

In the Terrace, eight units closed, averaging $423,875 between $335,000 and $700,000, at $367 a square foot. They took longer to sell, 229 days on average. A Terrace three-bedroom often costs about what a resort one-bedroom costs, which is the trade a buyer here is making: more room, or the Gulf out the window.

What is for sale now

As of October 8, 2026 the resort towers have eleven units listed: five one-bedrooms from $549,900 to $599,000 and six two-bedrooms from $595,000 to $649,979. The Terrace has eight: two two-bedrooms from $450,000 to $497,000 and six three-bedrooms from $549,000 to $649,900. Most listings in both buildings say short-term rental is allowed.

What to check before you buy

The towers are now past the age at which Florida requires a milestone inspection and a structural integrity reserve study, so ask for both, along with the current association budget for the building you are buying in. Ask which amenities are shared between the resort and the Terrace and which are not, because that affects the fee. If the unit is in a rental program, read the management agreement before relying on any income figure in a listing. We will get the documents and tell you what we see.

Sales figures from the MLS, October 1, 2025 through September 30, 2026. Active listings as of October 8, 2026. Figures were accurate when written and change with the market. Nothing here is a projection of rental income or an assurance about future assessments.