PELICAN BAY MARKET 2024 MARKET REPORT and 5-YEAR REVIEW

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Median Price and Sales
The median price of the Single Family homes sold in Pelican Bay more doubled from $2.25 million in 2020 to $4.7 million in 2024.
Sales increased until 2021 and have since dropped back below pre-pandemic levels.
The median price of the Villas sold in Pelican Bay increased from $1.5 million in 2020 to $1.875 million in 2024, but declined from 2022/23 levels.
The number of sales increased in 2020/21, but has since dropped back to pre-pandemic numbers.
The median price of the Condos sold in Pelican Bay increased 45% from $750,000 in 2020 to $1.3 million in 2024, and was stable from 2022-24. Sales have also dropped sharply since 2021.

Price per Sq Ft (PSF) and Speed of Sales (Days to Offer Accepted – DTO)
PSF is another way to look at sales.

The PSF:
doubled for SFs, from $637 in 2020 to $1,268 in 2024;
for Villas increased 50% from $611 in 2020 to $918 in 2024;
for Condos increased 64% from $424 in 2020 to $695 in 2024.

The pace of sales quickened dramatically until 2021 before slowing equally dramatically

INVENTORY
A market is deemed to be in equilibrium between buyers and sellers with 6 months of supply.
Current inventory is high, suggesting a market favouring buyers.