Is Panama City, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Panama City is a seller's market

Buyer's
Market

Difference Since October 2021

Since last year, Panama City has remained a Seller's Market.

Key Takeaway

Panama City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Panama City, FL cost?

Median Sold Price

$256,500

$169/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$56,806(+28.4%)

Key Takeaway

Homes in Panama City have sold for 28.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $110K$167K
+51.8%
2 $139.2K$179.4K
+28.9%
3 $199.9K$249.9K
+25.0%
4 $291.2K$350K
+20.2%
5+ $367.4K$500K
+36.1%

Median Sold Price Compared To Nearby Cities

Youngstown
+30.6%
Panama City
+28.4%
Panama City Beaches
+26.2%
Springfield
+19.9%
Lynn Haven
+15.8%

How many homes are available in Panama City, FL?

Number of Homes For Sale

Sep 2022Oct 2022%
206198-3.9%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 21
-50.0%
2 2624
-7.7%
3 113109
-3.5%
4 5354
+1.9%
5+ 1210
-16.7%

Number of Homes Sold

Sep 2022Oct 2022%
4838-20.8%

Asking Price vs. Sold Price

28 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Panama City, you may be able to get a good deal. 73.7% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
39 Days35 Days-10.1%

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Panama City are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Panama City, FL

Panama City, FL has 198 homes for sale to choose from. In October 2022 in Panama City, FL there were 3.9% less homes for sale than in September 2022. In October 2022 median list price was $256,500 and the average listing age was 35 days. From September 2022 through October 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties increased by 51.8%, prices of 2 bedrooms properties went up by 28.9%, 3 bedrooms properties prices increased by 25%, 4 bedrooms properties became 20.2% more expensive, prices of 5 bedrooms properties went up by 36.1%. Housing inventory have changed in this real estate market: volume of 1 bedroom homes went down by 50%, number of 2 bedrooms homes decreased by 7.7%, 3 bedrooms homes inventory decreased by 3.5%, 4 bedrooms homes became 1.9% more available, volume of 5 bedrooms homes went down by 16.7%. In October 2022, from all listings sold in Panama City, FL there were more than 5 sold above asking price, over 28 sold below and more than 5 were sold right at the asked price.

Related Housing Market Reports