Pelican Bay
Homes for Sale in Panama City Beach, FL
All 733 homes for sale in Panama City Beach, FL · median $368,500 · 350 homes for sale in 32408 · Bay County homes for sale
True comps, carrying-cost math, and listings before the portals.
Market Heat
Photo via CPAR MLS
As of October 2026, Pelican Bay in Panama City Beach, FL has 3 homes for sale. Over the 12 months ending 2026-09-20, 4 recorded sales closed at a median of $557,500, a median 7 days on market, sellers accepting 97% of original asking (-5% versus the prior year). At the median price and Bay County's FY2025-26 rate of 12.28 mills, annual property tax runs about $6,840 ($6,360 with the full homestead exemption).
Pelican Bay is trading on a thin data set right now — only 4 closings in the current window — so the numbers here should be read as a snapshot, not a trend line. The median price of $550,000 and a median 57.5 days on market both reflect that small sample, meaning a single unusual sale can move either figure more than it would in a higher-volume community.
A market heat score of 49 puts this at a balanced posture, not clearly tilted to either side. Year over year the median is down 6.0%, but set against a longer-term gain of 90% since 2012, that looks like a pause after a long run rather than a reversal. For a buyer, that argues for a patient, evidence-based offer; for a seller, it argues for pricing off recent comparables rather than assuming last cycle's pace still applies.
Pelican Bay right now
🟡 Off the recent peak. The trailing-12-month median ($558K) is down 4.7% from the prior 12 months ($585K) and up 89% since 2012. With about 5 sales a year, a single closing can swing this number, so read the level and the decade, not one year's move.Momentum Research, record-level CPAR MLS closed sales, 12-month windows ending September 20. Confidence: Low (4 and 3 sales in the two windows).
Jump to: Price history & scorecard · Homes for sale · Schools · FAQ
· Updated October 18, 2026 · Live data: CPAR MLS, refreshed twice daily · MLS facts carry their source; interpretation lines are Momentum Research · Data sources & freshness
The 60-Second Overview
Pelican Bay market snapshot (as of September 20, 2026): the median sale price is about $558K, and a median 8 days on market for closed sales. The trailing-12-month median is down 5% from the prior 12 months and up 89% since 2012, computed from record-level CPAR MLS closed sales (4 closings in the current window).
In ZIP 32408 (Panama City Beach), 1,792 homes closed in the last 12 months at a median of $400K, down 0.6% year over year, with a median 75 days on market. Right now 1,195 active and 202 pending listings — a buyer's market. See the live ZIP 32408 housing market and the Bay County market.
County records show 5 qualified sales in Pelican Bay across 2024–2025 (4 in 2024, 1 in 2025), median $520,000 — the last recorded sale per parcel on the Florida DOR 2025 assessment roll, independent of the MLS.
Pelican Bay is a community of 71 homes in Panama City Beach, Bay County, built between 1998 and 2005 (median 2001), with a median living area of about 2,731 square feet. 75% of parcels are homesteaded, the owner-occupancy proxy in the Florida DOR assessment roll (2025 roll, public records).
Pelican Bay is a low-volume Panama City Beach community in Bay County, where a small number of recent closings sets the tone for price and pace rather than a large, continuously refreshed inventory.
Who Pelican Bay is best for.
Best for
- A buyer comfortable evaluating a home on its own merits when comparable sales are limited
- A buyer taking a long-term view, willing to look past a single down year in favor of the longer appreciation trend
- A seller prepared to price carefully off recent, specific comparables rather than a broad community average
Probably not for
- A buyer who wants a wide, active pool of listings to compare before writing an offer
- A buyer relying on established community amenities as a deciding factor, since none are currently identified from MLS listings
- A seller expecting the prior long-term appreciation rate to repeat in the current short-term window
Price History: What Homes Here Have Actually Sold For
Median sale price over the trailing 12 months ending September 20 of each year, from record-level CPAR MLS closed sales. Same methodology as every appreciation figure on this page: the 2026 point ($558K) IS the median in the snapshot above, and the move from 2025 ($585K) IS the -4.7% one-year change.
Windows contain 1 to 8 sales each (4 in the current window); every figure carries its sample size, and thin markets swing on single closings. Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
The real cost & risk here
Before the list price, the Florida math the portals skip. These are Bay County typicals — your exact home, flood zone, and insurance quote will vary, so verify each before you offer.
Check it for your address: look up your flood zone (FEMA) · insurance by county · true-cost calculator · Bay County scorecard.
County typicals from Momentum’s Florida housing data (Zillow & Realtor.com aggregates, Census, FRED), updated monthly; insurance modeled. Flood zone is property-specific — always confirm via FEMA.
12% of homes for sale in ZIP 32408 are already under contract (under contract ÷ under contract + active listings) — a read on how much of the available inventory buyers have already claimed. Source: MLS data (2026-10-13).
Pelican Bay Market Scorecard
Pelican Bay is currently a balanced market., a median asking price of $700,000, and homes go under contract in about 43 days.
Go deeper: ZIP market scorecard · county scorecard · true cost calculator · affordability calculator.
Live data: CPAR MLS, refreshed twice daily. Market metrics only; these describe homes for sale and recent sales, not residents.
Homes For Sale Right Now in Pelican Bay
Live MLS inventory for Pelican Bay. Every active listing, what is under contract right now, and the last 12 months of closed sales, refreshed twice a day. Closed comps beat an algorithm's guess every time.
Active and pending Pelican Bay listings as of 2026-10-17, priced high to low. Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate. Tap any home to ask about it.
The Pelican Bay buying strategy.
If we were buying in Pelican Bay today, this is the order of operations we would run for our clients.
Underwrite the condition first. Price the roof, HVAC, and systems honestly before judging any list price; condition swings value here more than square footage alone.
Match the home to real comps. Recent sales of similar condition and lot, not the asking price, tell you what a home is worth.
Move deliberately, not desperately. Neither side has a decisive edge, so a well-prepared, fairly-priced offer wins without overpaying.
Line up financing and inspection early. A pre-approval and an inspection plan let you act fast and negotiate from evidence.
Keep an agent in your corner. The listing agent works for the seller; we represent you and prepare a hand-built valuation before any offer in Pelican Bay.
Reading a thin market
With only 4 closings in the current window, Pelican Bay does not generate the volume that lets you lean hard on medians. The $550,000 median price and the 57.5-day median time on market are both useful directional signals, but neither should be treated as a precise ceiling or floor for what a specific home will do.
The longer view matters more here than the year-over-year read. A 90% gain since 2012 shows sustained appreciation over time, while the current 6.0% year-over-year decline is a shorter-term data point layered on top of that. No community amenities are currently identified from active MLS listings, so buyers evaluating lifestyle features should confirm directly with listing agents rather than assume standard community offerings.
The location and the amenities are priced into every listing in Pelican Bay. The deal is won or lost on condition, the comps, and the renovation math.
Momentum Buy Score.
Our proprietary 0 to 10 read across the factors that decide how a home in Pelican Bay buys, holds, and resells. Momentum Research; not an appraisal.
Momentum Intelligence Scores are our proprietary, qualitative assessment on a 0 to 10 scale, built from the record-level market data on this page. They are a framework for comparing communities, not a guarantee of future value and not advice on a specific home; unlike an automated value estimate they do not price your home, they grade the community on evidence you can inspect. Composite is the plain average of the 4 factors (6.8). Basis: Long-Term Appreciation +89% since 2012; Recent Direction -4.7% year-over-year; Owner Commitment 75% owner-occupied; Pricing Power 97.3% sale-to-list. Refreshed with each data update.
Why work with Momentum here
In a low-volume community like Pelican Bay, the skill is in reading a small data set correctly — knowing when a median is representative and when it is being pulled by one or two outlier sales. We price and negotiate off actual recent closings and current listing behavior, not assumptions carried over from a busier market.
Pelican Bay in 15 seconds.
What it really costs to own in Pelican Bay
The parts of the monthly number a mortgage calculator leaves out, from the tax roll, the MLS, Citizens and FEMA. Property facts only.
| Property tax | Current owners' bills run a median of $6,706/yr across 4 listings here (MLS tax records, 2026-10-18). |
|---|---|
| HOA dues | Median $286/month across 108 MLS listings (most billed semiannually; 2026-10-15). Dues cover what the documents say they cover; ask for the budget and reserve study. |
| Home and flood insurance | The average Citizens Property Insurance premium in Bay County is $1,928/yr (1,264 policies, Citizens detail by county, April 2026); private-market quotes depend on roof age, wind mitigation and construction. |
| Roof and age | Median build year 2000 across 4 listings. An original roof here would be about 26 years old; under Florida's 2022 reform (SB 2-D) carriers may require an inspection past 15 years, so budget for a roof report, and for replacement where it fails. |
Email me new listings in Pelican Bay
One e-mail a day, only when a home lists here, with price, beds, baths and a link to every listing. Straight from the MLS feed; no account needed.
Ask an agent about Pelican Bay
Have a question about the homes, fees, rules or commute here? A Momentum agent who works Pelican Bay will answer, and the answer is published on this page for the next buyer.
HOA, CDD & Fees
- HOA dues reported around $286/month (about $3,432/yr) · median of 108 MLS listings, most billed twice a year
- Any club/amenity membership is billed separately
Listings in this community report association dues of about $286 per month ($3,432 a year) — the median AssociationFee across 108 MLS records, normalised to a monthly figure; most are billed twice a year. Dues change with budgets and can differ by section or product type; confirm the current figure with the association before you offer. Source: MLS listing records, 2026-10.
Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.
Tools for a Pelican Bay buy.
Free calculators to pressure-test the real cost before you tour.
Selling here is won on condition and pricing to real comps, not an automated estimate. The right number comes from closed Pelican Bay sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Pelican Bay, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Pelican Bay home worth?
Get a no-obligation home value based on real comparable sales in Pelican Bay, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
See all homes for sale in Panama City Beach →
Recently off market in Pelican Bay
Homes in Pelican Bay that recently left the market. Each address opens its public-record profile: county-recorded value, property taxes, the last recorded sale, community sales history, and what is for sale nearby now. 2 on record.
- 2330 Pelican Bay Court · off market
- 2418 Pelican Bay Court · off market
| Location | Panama City Beach, Bay County, FL · ZIP 32408 |
|---|---|
| Homes in the community | 71 (FL DOR 2025 assessment roll) |
| Years built | 1998–2005 (median 2001) |
| Typical living area | 2,731 sq ft (median) |
| Sale prices, last 12 months | $557,500 median across 4 closed sales · -4.7% vs the prior 12 months |
| Days on market (closed sales) | 7 median |
| For sale right now | 3 active, 0 pending · median asking $700,000 |
| Owner-occupied (homestead) share | 75% |
Data as of September 20, 2026. Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate; housing-stock figures from Florida Department of Revenue public records. Market figures describe homes, not residents. Cite as: Momentum Realty, “Pelican Bay key facts,” movewithmomentum.com/neighborhoods/pelican-bay--bay, data as of September 20, 2026.
Housing distress & ownership in Pelican Bay, Panama City Beach
Who owns here, how much is not owner-occupied, and how much for-sale inventory is under distress.
Source: Momentum Realty Research. Ownership & parcels from the FL DOR 2025 tax roll; distress from MLS active-listing status/remarks; price from MLS closed sales. Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
Just listed in Pelican Bay
The newest homes for sale in Pelican Bay right now, newest first. Each link opens the full listing with every photo, the price history and a tour request.
- 2340 Pelican Bay Court, Panama City Beach, FL 32408 $715,000 · 3 bd · 4 ba · 43 days on market Courtesy of Central Bay Realty and Property Management LLC
- 2330 Pelican Bay Court, Panama City Beach, FL 32408 $665,000 · 3 bd · 3 ba · 60 days on market Courtesy of Anchor Realty Florida
Checked against the MLS Oct 18, 2026. All new listings in this market.
Every Home for Sale in Pelican Bay Bay Right Now (2)
All 2 active and pending Pelican Bay Bay listings with a detail page, newest first, refreshed twice a day from the MLS.
- 2330 Pelican Bay Court, Panama City Beach, Fl 32408 · $665,000 · 3 bd / 3 ba · listed Aug 18, 2026 · listed by Anchor Realty Florida
- 2340 Pelican Bay Court, Panama City Beach, Fl 32408 · $715,000 · 3 bd / 4 ba · listed Aug 17, 2026 · listed by Central Bay Realty and Property Management LLC
More Panama City Beach home searches
- All homes for sale in Panama City Beach, FL
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- Homes under $300K in Panama City Beach
- Homes from $300K to $500K in Panama City Beach
- 4-bedroom homes for sale in Panama City Beach
- Panama City Beach home values: what is my house worth?
- ZIP 32408 housing scorecard
- 3 coming-soon communities in Bay County
Recent Developments in Pelican Bay Bay
Development, infrastructure, retail, and school activity affecting Pelican Bay Bay, tracked by our team and summarized from public reporting and official sources, with links to the original coverage. Last updated October 2026.
- October 2026Development
Tyndall Air Force Base rebuild continues with about 140 new facilities
WJHG reports Tyndall AFB is rebuilding with roughly 140 new hurricane-resistant facilities after Hurricane Michael in 2018, and now hosts F-35 squadrons. Most current projects are expected to finish by 2027, while other buildings await congressional funding and the work has faced labor and budget constraints.
What it may mean for the marketContinued base construction and F-35 operations sustain military and contractor employment and construction activity in the eastern Bay County area. The site is about 9 miles south of Pelican Bay Bay.
Source: WJHG - September 2026Retail & Dining
Panama City meets Houston developer interested in part of Panama City Mall site
Panama City officials met a Houston developer interested in buying a portion of the largely vacant Panama City Mall, owned by Hendon Properties, with a retail focus. Discussions covered rezoning, possible CRA participation and plan submittal. The mayor called the FDOT US 231 widening, planned to six lanes from US 98 to SR 20, the biggest holdup.
What it may mean for the marketPossible retail redevelopment of a large vacant site could add shopping options near the US 231 corridor, with timing tied to road widening and rezoning. The site is about 6 miles west of Pelican Bay Bay.
Source: WJHG - August 2026Development
Deal reached to redevelop historic Panama City Grammar School into apartments and townhomes
Panama City reached a deal for developer Zachary Seymour to buy the 1914 Panama City Grammar School on East Seventh Street and convert it to apartments and townhomes. The city would waive about $375,000 in code fines and a $100,000 CRA grant is pending approval. Seymour has one year to finish structural repairs to roofs, windows and doors.
What it may mean for the marketReuse of a vacant historic building would add downtown-area residential units and remove a long-standing vacant property. The project is about 6 miles southwest of Pelican Bay Bay, elsewhere in Bay County.
Source: WJHG - August 2026Infrastructure
HCA Florida Gulf Coast Hospital announces $125 million expansion
HCA Florida Gulf Coast Hospital announced a $125 million expansion on its 23rd Street campus, including a new patient tower with 34 additional beds, a 16-bed orthopedic and spine unit, a fourth cath lab, an expanded women's center and a 5,000-square-foot outpatient entrance expansion. The project is in design, with construction of 24 to 36 months and completion targeted for 2029.
What it may mean for the marketAdded hospital capacity and specialty services would improve local healthcare access and add medical-sector employment along the 23rd Street corridor. The site is about 7 miles west of Pelican Bay Bay.
Source: WJHG - August 2026Infrastructure
Bay County approves $13.5 million water treatment plant expansion
Bay County commissioners approved a $13.5 million contract with NCMC Construction to add three large sand filters (30 by 50 feet each) to the county water treatment plant, which now runs 11 filters. Construction is expected to start soon and take about a year, and officials say water bills should not rise because of it.
What it may mean for the marketAdded filtration and backup capacity supports water service reliability for a county where demand has more than doubled in 15 years. The site is about 4 miles northwest of Pelican Bay Bay.
Source: WJHG - June 2026Development
Panama City commissioners approve Community Development District for 1,800-home neighborhood
Panama City commissioners approved a Community Development District for a planned neighborhood of about 1,800 homes east of John Pitts Road in north Panama City. Under the CDD, road maintenance within the neighborhood stays with the district rather than transferring to the city.
What it may mean for the marketA new large-scale residential district adds housing supply and internally maintained streets to the north Panama City market. The project is about 3 miles north of Pelican Bay Bay, elsewhere in Bay County.
Source: WJHG News Channel 7
Summaries reflect public reporting and official sources linked above as of the dates shown. Project details, timelines, and approvals can change. Commentary on potential market effects is general observation, not investment advice or a prediction for any specific property. For the freshest items across the whole region, see This Week in Northeast Florida.
Frequently Asked Questions
What is the median home price in Pelican Bay?
How long do homes in Pelican Bay take to sell?
How many homes are in Pelican Bay?
What share of Pelican Bay is owner-occupied?
When were the homes in Pelican Bay built?
Have Pelican Bay home prices gone up?
Who is the best real estate agent for Pelican Bay?
How do I find a top Panama City Beach real estate agent who knows Pelican Bay?
Can Momentum Realty connect me with an agent for Pelican Bay?
Where is Pelican Bay, and what county is it in?
Should you buy in Pelican Bay?
An honest fit check. We will tell you when it is not your community.
Data sources & freshness
| Live listings | CPAR MLS, refreshed twice daily (last: October 17, 2026) |
| Community market stats | CPAR MLS closed sales, 12-month windows ending September 20, 2026 |
| Housing stock & ownership | Florida DOR assessment roll (street-list match (1 streets, ZIP 32408)) |
| Under-contract shares | CPAR MLS records, as of 2026-09-20 |
| Historical depth | Closed-sale records back to 2012 (75 transactions analyzed) |
Verify the primary sources yourself: Florida DOR · U.S. Census · FEMA flood maps · Citizens Property Insurance.
Momentum Research figures are our own analysis of CPAR MLS records; MLS data is deemed reliable but not guaranteed. Methodology: how Momentum market scores are computed. Market metrics describe homes for sale and recent sales, not residents.
Own a home here?
You just read the data. Now see what your home is worth.
The numbers on this page move markets in the aggregate. The number that matters to you is what a buyer pays for your address. Momentum sells for 1.25% above the CPAR MLS member average and 8 days faster, and we’ll price yours against live local comps.
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See how Pelican Bay fits the bigger picture — live prices, inventory, and Momentum Scores:
More on Pelican Bay
- Home values · What homes in Pelican Bay actually sell for
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