Pelican Bay Real Estate Market: Third Quarter 2025

The Pelican Bay real estate market is showing clear signs of normalization this fall, with inventory declining seasonally and buyer activity beginning to pick up after a slow summer. We're seeing a market that's settling into healthier patterns after the dramatic swings of recent years.

Inventory in Pelican Bay ended September at 157 homes for sale, down from the 304 available in March. That's a familiar pattern here. Many sellers pulled listings over the summer months to avoid the heat and hurricane season, planning to relaunch fresh when the snowbirds return. This September figure compares to 149 homes available at the same time last year, so we're tracking slightly higher year over year. The broader Naples market mirrors this trend, with 4,925 homes available versus 4,668 a year ago.

Months supply of inventory tells the more complete story. Pelican Bay ended the third quarter at 6.8 months, down from 13.5 months in March but still elevated compared to the 7.1 months we saw last September. For context, we're well above the intense seller's market conditions of 2021 and 2022, when supply hovered below one month. The current range suggests we're operating in a buyer-favorable territory, though seasonal demand should tighten conditions through winter.

Sales activity remained modest through the summer, as expected. Pelican Bay recorded 15 closed sales in September, with 48 total over the quarter. That's softer than the 12 sales last September, though summer 2024 was unusually quiet. Pending sales have begun climbing, with 14 properties going under contract in September compared to just seven last year, signaling renewed buyer interest as we head into season.

Pricing has held remarkably steady. The median sales price in September was $1,325,000, essentially flat with the $1,610,000 from June and well within the normal range we've seen throughout 2025. Compare that to the broader Naples market, where the September median of $550,000 reflects the mix of condos and single-family homes across all price points. The Pelican Bay median price per square foot of $712 in September remains well above Naples overall at $316, reflecting the beachfront community.

Days on market averaged 150 in September, up from 78 in June but consistent with the seasonal slowdown. Homes that came to market in July and August naturally sit longer. We expect this metric to compress as fresh listings launch and serious buyers return for the winter season.

Looking ahead, Pelican Bay remains one of Naples' most established luxury communities, and the fundamentals remain sound. Inventory is manageable, pricing is stable, and early signs point to stronger activity as we move through fall. For buyers, there's genuine selection without the pressure of 2021. For sellers considering a move, timing a listing for the heart of season will likely yield the strongest results.

Bonnycastle Realty is a boutique real-estate firm based in Naples, Florida, offering personal, full-service support to buyers and sellers throughout Southwest Florida. Whether you’re looking to move into the area, upgrade your coastal lifestyle, or sell your home for its full potential, our team brings deep local expertise and a seamless process.

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