Pelican Bay Real Estate Market Report: Q3 2026

Pelican Bay closed the third quarter of 2026 with 70 sales, up 45.8% from 48 in Q3 2025, while inventory fell by nearly 30%. Months supply averaged 4.3 for the quarter, down from 7.3 a year ago, placing Pelican Bay below the roughly six months generally associated with a balanced market.

Pelican Bay Q3 2026 Market Report

Summer is usually a quieter season in Pelican Bay, but this was its most active third quarter since at least 2023. Closings rose sharply, homes sold faster, and inventory continued to tighten.

In March, Pelican Bay had 8.5 months of supply. By September, that figure had fallen to 4.0, the lowest reading since August 2023. Of the neighborhoods in this quarter's reports, Pelican Bay has moved furthest toward conditions that favor sellers.

Sales Activity Rises Sharply

Pelican Bay recorded 70 closed sales in Q3 2026, compared with 48 in Q3 2025. July and September each brought 28 closings, nearly double the 15 recorded in September of last year, with 14 in August.

Through September, Pelican Bay has recorded 271 closed sales, up 12.9% from 240 over the same period in 2025.

Pending sales held steady at 44 for the quarter, matching Q3 2025. Year to date, 249 homes have gone under contract, up from 225 through September 2025.

Pricing Reflects the Mix of What Sold

Monthly median sales prices in Pelican Bay were $1,144,000 in July, $1,012,500 in August, and $1,370,000 in September. September came in above the $1,325,000 recorded a year earlier.

Pelican Bay includes everything from Gulf-front towers to the estate homes of Bay Colony, so the median shifts with the type of residence that closes in a given month. These numbers say more about the mix of sales than about a change in value.

Median price per square foot followed the same pattern, at $623 in July, $561 in August, and $697 in September.

Negotiation has narrowed. Sellers received a higher share of their last list price in every month of the quarter than in the same month last year, reaching 94.6% in September compared with 93.2% in September 2025.

Inventory Falls by Nearly 30%

Pelican Bay averaged 118 homes for sale in Q3 2026, down 29.4% from an average of 167 in Q3 2025. Inventory held at 111 homes in both August and September, the lowest count since September 2023, and half the 222 homes available in March.

Months supply averaged 4.3 in Q3 2026, compared with 7.3 in Q3 2025. At 4.0 months in September, Pelican Bay now has less supply than a balanced market would typically carry.

New listings were steady, with 68 this quarter compared with 70 a year ago. Year to date, 312 new listings have come to market, down from 368 through September 2025. Supply is arriving at a similar pace, but buyers are absorbing it faster.

Homes Are Selling Sooner

Median days on market was 92 in July, 61 in August, and 61 in September. August and September were much shorter than a year earlier, when homes took a median of 175 and 150 days to go under contract.

Interpreting the Shift

Rising closings, shorter marketing times, and supply below six months point to a market that has moved from balance toward conditions that favor sellers. This has developed steadily over the course of the year rather than all at once.

For buyers, preparation matters. Well-presented residences are going under contract in about two months, and there is roughly half the selection there was in the spring. Having financing and priorities in place makes it easier to act when the right residence appears.

For sellers, conditions are the most supportive Pelican Bay has seen in about three years. Thoughtful pricing and presentation still shape the outcome, but there is far less competing inventory than there was a year ago.

Looking Ahead

As Pelican Bay enters the fourth quarter, the seasonal return of buyers and the usual rise in fall and winter listings will test how firm these conditions are. With supply already near four months, even a modest increase in demand could keep the market tight through the season.

Pelican Bay's fundamentals remain strong. Its private beach access, proximity to Waterside Shops, and range of residences from Gulf-front towers to Bay Colony continue to support long-term demand. If you would like to talk through what these numbers mean for your residence or your search, send us a message.