Is Panama City Beach, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Panama City Beach was a Seller's Market.
Key Takeaway
Panama City Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Panama City Beach, FL
How much do homes in Panama City Beach, FL cost?
Median Sold Price
$473,253
$346/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Panama City Beach have sold for 1.5% less than they did a year ago.
Summary: The median home sold price in Panama City Beach was $473,253 in May 2024, down 1.5% from last year, and the median price per square foot was $346.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $368.8K | $365.3K | -1.0% |
| 2 Bedrooms | $460.2K | $440K | -4.4% |
| 3 Bedrooms | $498.5K | $520.2K | +4.4% |
| 4 Bedrooms | $605.3K | $625.4K | +3.3% |
| 5+ Bedrooms | $817.5K | $1.0M | +27.8% |
Summary: Panama City Beach housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes decreased by 4.4%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 27.8%.
Median Sold Price Compared To Nearby Cities
| Southport | $470.8K | $475K | +0.9% |
| Panama City Beaches | $471.4K | $468K | -0.7% |
| Panama City Beach | $480.3K | $473.2K | -1.5% |
Housing Supply in Panama City Beach, FL
How many homes are available in Panama City Beach, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,709 | 1,778 | +4.0% |
Summary: The Panama City Beach real estate market had 1,778 homes for sale in May 2024, a 4.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 356 | 377 | +5.9% |
| 2 Bedrooms | 560 | 578 | +3.2% |
| 3 Bedrooms | 494 | 525 | +6.3% |
| 4 Bedrooms | 174 | 171 | -1.7% |
| 5+ Bedrooms | 125 | 127 | +1.6% |
Summary: The Panama City Beach housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.9%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 6.3%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes increased by 1.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 167 | 147 | -12.0% |
Asking Price vs. Sold Price
121 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Panama City Beach, you may be able to get a good deal. 82.3% of homes here sold below asking price last month.
Summary: A total of 147 homes were sold or pending in Panama City Beach in May 2024, down by 12.0% month-over-month. Of the 147 sold homes, 82% were sold under asking, 13% were sold at asking, and 5% were sold over asking.
Days on Market for Panama City Beach, FL
How long does it take to sell a home in Panama City Beach, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 58 Days | 104 Days | +77.2% |
Summary: Homes in Panama City Beach had an average of 104 days on market in May 2024, up by 77.2% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
43 Homes Were Sold
In 30 - 90 Days
63 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Panama City Beach are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 147 homes were sold in Panama City Beach; 28% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange program of Central Panhandle Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Properties subject to prior sale, change, withdrawal or rental. Copyright© 2024 Central Panhandle Association of REALTORS.© All Rights Reserved.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.
Based on information from the Georgia MLS © 2024.