Is Panama City Beaches, 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 Beaches was a Seller's Market.
Housing Prices in Panama City Beaches, FL
How much do homes in Panama City Beaches, FL cost?
Median Sold Price
$468,071
$344/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Panama City Beaches was $468,071 in May 2024, down 0.7% from last year, and the median price per square foot was $344.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $362.2K | $357.3K | -1.4% |
2 Bedrooms | $444.5K | $419.7K | -5.6% |
3 Bedrooms | $476.4K | $500.8K | +5.1% |
4 Bedrooms | $610.5K | $619K | +1.4% |
5+ Bedrooms | $856.2K | $1.2M | +43.1% |
Summary: Panama City Beaches housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.4%, 2 bedroom homes decreased by 5.6%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 43.1%.
Median Sold Price Compared To Nearby Cities
Panama City | $340.3K | $348.8K | +2.5% |
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 Beaches, FL
How many homes are available in Panama City Beaches, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2,181 | 2,284 | +4.7% |
Summary: The Panama City Beaches real estate market had 2,284 homes for sale in May 2024, a 4.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 433 | 462 | +6.7% |
2 Bedrooms | 723 | 747 | +3.3% |
3 Bedrooms | 635 | 675 | +6.3% |
4 Bedrooms | 234 | 238 | +1.7% |
5+ Bedrooms | 156 | 162 | +3.8% |
Summary: The Panama City Beaches housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 3.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
202 | 175 | -13.4% |
Asking Price vs. Sold Price
143 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 175 homes were sold or pending in Panama City Beaches in May 2024, down by 13.4% month-over-month. Of the 175 sold homes, 82% were sold under asking, 13% were sold at asking, and 5% were sold over asking.
Days on Market for Panama City Beaches, FL
How long does it take to sell a home in Panama City Beaches, FL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
63 Days | 99 Days | +57.1% |
Summary: Homes in Panama City Beaches had an average of 99 days on market in May 2024, up by 57.1% compared to last year.
Breakdown of Home Sale Times
61 Homes Were Sold
Under 30 Days
44 Homes Were Sold
In 30 - 90 Days
70 Homes Were Sold
Over 90 Days
Summary: During May 2024, 175 homes were sold in Panama City Beaches; 35% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.