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Homebuyers and sellers are navigating a slow and expensive housing market, with rising prices and stagnant demand on the sidelines. This comes amid rising and growing . But luxury homes—multimillion-dollar estates, sleek penthouses, and one-of-a-kind custom builds—are , even as most buyers pull back.

Most people can't afford high-end homes, although they're still fun to dream about. So, to highlight where luxury real estate is commanding the highest prices, Redfin analyzed the most expensive neighborhoods in the Pensacola metro area—and showcased a few of the area's standout listings (when possible).

Note: Redfin's analysis focused on metro areas, meaning some neighborhoods fell within smaller nearby cities. Listings and data were gathered on October 15, 2025.

#1. Palafox Historic District (Pensacola, FL)

115 W Wright St, Pensacola, FL 32501
- List price: $275,000
- Beds: 3 | Baths: 2 | Square feet: 1,857
- See 115 W Wright St, Pensacola, FL 32501 on

17 Palafox Pl, Pensacola, FL 32502
- List price: $899,000
- Beds: 2 | Baths: 2 | Square feet: 1,045
- See 17 Palafox Pl, Pensacola, FL 32502 on

43 Port Royal Way, Pensacola, FL 32502
- List price: $1,599,999
- Beds: 4 | Baths: 3 | Square feet: 2,859
- See 43 Port Royal Way, Pensacola, FL 32502 on

850 S Palafox St, Pensacola, FL 32502
- List price: $3,199,000
- Beds: 3 | Baths: 3.5 | Square feet: 4,067
- See 850 S Palafox St, Pensacola, FL 32502 on

#2. East Hill (Pensacola, FL)

1306 E Cervantes St, Pensacola, FL 32501
- List price: $460,000
- Beds: not available | Baths: not available | Square feet: 2,564
- See 1306 E Cervantes St, Pensacola, FL 32501 on

1412 E Strong St, Pensacola, FL 32501
- List price: $749,000
- Beds: 2 | Baths: 2.5 | Square feet: 2,304
- See 1412 E Strong St, Pensacola, FL 32501 on

1425 E Mallory St, Pensacola, FL 32503
- List price: $974,000
- Beds: 4 | Baths: 3 | Square feet: 3,184
- See 1425 E Mallory St, Pensacola, FL 32503 on

1721 N 20Th Ave, Pensacola, FL 32503
- List price: $669,900
- Beds: 3 | Baths: 2 | Square feet: 2,237
- See 1721 N 20Th Ave, Pensacola, FL 32503 on

#3. Inerarity Point (Pensacola Station, FL)

16070 Innerarity Point Rd, Pensacola, FL 32507
- List price: $410,000
- Beds: 2 | Baths: 2.5 | Square feet: 1,315
- See 16070 Innerarity Point Rd, Pensacola, FL 32507 on

16104 Innerarity Point Rd, Pensacola, FL 32507
- List price: $580,000
- Beds: 3 | Baths: 3 | Square feet: 1,818
- See 16104 Innerarity Point Rd, Pensacola, FL 32507 on

16531 Innerarity Point Rd, Pensacola, FL 32507
- List price: $618,500
- Beds: 4 | Baths: 2.5 | Square feet: 2,524
- See 16531 Innerarity Point Rd, Pensacola, FL 32507 on

5575 N Shore Way, Pensacola, FL 32507
- List price: $700,000
- Beds: 3 | Baths: 2 | Square feet: 2,600
- See 5575 N Shore Way, Pensacola, FL 32507 on

#4. Pensacola Beach (Navarre Beach, FL)

1111 Fort Pickens Rd, Gulf Breeze, FL 32561
- List price: $755,000
- Beds: 3 | Baths: 3 | Square feet: 1,608
- See 1111 Fort Pickens Rd, Gulf Breeze, FL 32561 on

1304 Via De Luna Dr, Gulf Breeze, FL 32561
- List price: $1,050,000
- Beds: 3 | Baths: 2 | Square feet: 1,403
- See 1304 Via De Luna Dr, Gulf Breeze, FL 32561 on

8499 Gulf Blvd, Navarre, FL 32566
- List price: $739,000
- Beds: 2 | Baths: 2 | Square feet: 1,378
- See 8499 Gulf Blvd, Navarre, FL 32566 on

8522 Gulf Blvd, Navarre, FL 32566
- List price: $499,000
- Beds: 2 | Baths: 3 | Square feet: 1,294
- See 8522 Gulf Blvd, Navarre, FL 32566 on

#5. Belmont DeVilliers (Pensacola, FL)

400 W Gregory St, Pensacola, FL 32502
- List price: $544,900
- Beds: 3 | Baths: 2 | Square feet: 2,387
- See 400 W Gregory St, Pensacola, FL 32502 on

401 W Wright St, Pensacola, FL 32501
- List price: $281,500
- Beds: 1 | Baths: 1 | Square feet: 640
- See 401 W Wright St, Pensacola, FL 32501 on

522 W Belmont St, Pensacola, FL 32501
- List price: $925,000
- Beds: 4 | Baths: 3.5 | Square feet: 2,685
- See 522 W Belmont St, Pensacola, FL 32501 on

640 W Wright St, Pensacola, FL 32501
- List price: $415,000
- Beds: 3 | Baths: 2 | Square feet: 1,524
- See 640 W Wright St, Pensacola, FL 32501 on