Neighborhood · November 3, 2026
Forest Bay Estates, Gulf Breeze FL: what homes sold for and how fast
Updated November 2026. Detached homes only, Pensacola MLS closed sales November 3, 2025 through October 30, 2026, pulled November 3, 2026. No individual sales are shown.
In the twelve months ending October 2026, 12 detached homes sold in Forest Bay Estates, at a median of $484,500 and $211 per square foot. That is about 5% above the Gulf Breeze median of $460,000. Homes took a typical 55 days to sell, slower than Gulf Breeze overall, so a buyer here usually has time and some leverage. 3 homes were listed for sale there on November 3, 2026.
The numbers
| Measure | Forest Bay Estates | Gulf Breeze overall |
|---|---|---|
| Detached homes sold, 12 months | 12 | 724 |
| Median sale price | $484,500 | $460,000 |
| Price per square foot | $211 | $232 |
| Median home size | 2,296 sq ft | 2,106 sq ft |
| Typical days to sell | 55 | 35 |
| Year built (range of what sold) | 2020–2022 | — |
| For sale now | 3 | — |
What the numbers say
Homes here were built between 2020 and 2022, so it is one generation of housing and the resales all compete with each other on condition.
Supply. 3 for sale against 1.0 a month selling, roughly 3.0 months of supply. Under four months generally favors sellers, over six favors buyers, and a builder still releasing lots can hold supply high without the resale market being soft.
Price. At $211 per square foot against $232 for Gulf Breeze overall, homes here cost less per foot than the town average, so the money mostly buys square footage.
Where it is. Forest Bay Estates is in Gulf Breeze, Santa Rosa County, Florida, in the NAS Pensacola (across the bridge) commute shed. The current town-wide numbers are on the Gulf Breeze market page.
Questions people ask
How much does a house in Forest Bay Estates cost? The median sale over the last twelve months was $484,500; half sold for more, half for less.
Is Forest Bay Estates new construction? Mostly not. Homes that sold were built between 2020 and 2022.
How fast do homes sell in Forest Bay Estates? A typical 55 days from listing to contract over the last year.
Is Forest Bay Estates in a flood zone? Flood zones are drawn by address, not by neighborhood. Check the FEMA flood map for the specific house and get a quote on that address before you offer. Santa Rosa County carries a 25% Community Rating System discount on flood premiums; the City of Milton 20%.
If you want a number on a specific house in Forest Bay Estates, or want to know how it compares to the next neighborhood over, email [email protected] or call or text 205-276-2135.
Source: Pensacola MLS closed detached sales, November 3, 2025 through October 30, 2026, pulled November 3, 2026. Medians for the subdivision as recorded in the MLS. Neighborhoods with fewer than 8 sales are not given a page because a median of a handful of homes is noise, not a market.