"The Sunday Morning Real Estate Recap"

Pelican Bay Market Report by Gary Gardiner

Welcome to your weekly 2026 Pelican Bay Market Audit.

This report tracks the 87 subdivisions of Pelican Bay against SIRS/Milestone high-rise compliance and FEMA 50% Rule single-family thresholds. As of May 2026, the median sold price across all Pelican Bay assets has settled at $1,900,000.

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The 2026 Property Type Audit

1. High-Rise Towers (31 Subdivisions): Trade value in the towers is currently dictated by the Structural Integrity Reserve Study (SIRS) status. Buildings that have completed their post-Ian coastal resilience updates are commanding a 15% premium. We are seeing a 93.2% sale-to-list ratio as buyers scrutinize association financials over "views."

2. Single-Family Estates (10 Subdivisions): This segment remains the most resilient with limited inventory. Value is tied directly to Base Flood Elevation. My audits focus on the FEMA 50% Rule—if a home hasn't been elevated to modern codes, it is often priced as a land-value acquisition regardless of interior finish.

3. Villas & Mid-Rise (46 Subdivisions): These assets provide the highest lifestyle-per-dollar ratio in 2026. However, these 20+ year old structures require a deep dive into the "Big 4" systems (Roof, HVAC, Plumbing, Electrical). I treat these transactions as a professional property management handover to ensure no deferred maintenance liabilities are passed to the buyer.

These reports provide a factual baseline for Pelican Bay assets. To see the methodology behind these property-type audits, view my background and property management details here.