Banana Bay Townhomes for Sale in Perdido Key

Bay frontage without Gulf-front pricing is the trade that brings buyers to Banana Bay, a small townhome community on Perdido Key that Pointe South has worked in for years. Townhomes here generally list in the $300,000s to the mid $400,000s, well under what beachfront condos on Perdido Key Drive command. Units are multi-level, with attached garages or ground-level parking and water views toward Old River. For anyone who wants a boat slip and a short drive to the sand rather than an elevator ride to it, that difference in price is the whole point.

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Banana Bay at a Glance

County

Escambia County, Florida

Setting

Bayfront townhome community on Perdido Key, off Perdido Key Drive near Old River

Housing

Multi-level attached townhomes with covered parking and private balconies

Known for

Water access, community pool, and proximity to Perdido Key State Park

Typical prices

$300,000 to the mid $400,000s

Floor Plans and Price Context

Most units run two or three bedrooms across two or three levels, with living space on the main floor and bedrooms above. Balconies face the water on the bay-side units. Compared with high-rise condos along the Gulf side of Perdido Key Drive, these townhomes trade elevator access to the beach for more square footage, private entry, and lower per-foot pricing. Buyers who plan to use a boat almost always land on this side of the key.

The Surrounding Neighborhood

Perdido Key Drive is the single road that ties the island together, running from the Alabama line east toward Pensacola. Perdido Key State Park and Johnson Beach sit within a few minutes of Banana Bay, and the Flora-Bama is a short drive west. Groceries and everyday errands mean a trip toward Pensacola or over to Orange Beach.

Daily Life

Mornings tend to be quiet here. The community pool and dock area get most of the traffic, and the beach is close enough that residents drive over for a couple of hours rather than making a day of it. Downtown Pensacola runs roughly thirty minutes east. Rental demand on the key is steady, so a share of owners use their townhomes seasonally.

Pointe South in Banana Bay

Buyers comparing a bay-side townhome in the $300,000s against a Gulf-front condo on Perdido Key Drive get a straight read on both from Pointe South, which has handled sales and rentals across Perdido Key.