Is Panama City, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Panama City was a Seller's Market.
Key Takeaway
Panama City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Panama City, FL
How much do homes in Panama City, FL cost?
Median Sold Price
$347,653
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Panama City have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Panama City was $347,653 in April 2024, up 5.4% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $335K | $340K | +1.5% |
| 2 Bedrooms | $324.1K | $359.5K | +10.9% |
| 3 Bedrooms | $294.4K | $315.8K | +7.3% |
| 4 Bedrooms | $380K | $375K | -1.3% |
| 5+ Bedrooms | $452.5K | $463.9K | +2.5% |
Summary: Panama City housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 7.3%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes increased by 2.5%.
Median Sold Price Compared To Nearby Cities
| Springfield | $220K | $247.5K | +12.5% |
| Lynn Haven | $320K | $349.9K | +9.3% |
| Panama City | $329.9K | $347.6K | +5.4% |
| Youngstown | $285K | $295K | +3.5% |
Housing Supply in Panama City, FL
How many homes are available in Panama City, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,564 | 1,637 | +4.7% |
Summary: The Panama City real estate market had 1,637 homes for sale in April 2024, a 4.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 205 | 216 | +5.4% |
| 2 Bedrooms | 335 | 379 | +13.1% |
| 3 Bedrooms | 552 | 570 | +3.3% |
| 4 Bedrooms | 376 | 371 | -1.3% |
| 5+ Bedrooms | 96 | 101 | +5.2% |
Summary: The Panama City housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.4%, 2 bedroom homes increased by 13.1%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes increased by 5.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 207 | 211 | +1.9% |
Asking Price vs. Sold Price
130 Homes Were Sold
Under Asking
51 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Panama City, you may be able to get a good deal. 61.6% of homes here sold below asking price last month.
Summary: A total of 211 homes were sold or pending in Panama City in April 2024, up by 1.9% month-over-month. Of the 211 sold homes, 62% were sold under asking, 24% were sold at asking, and 14% were sold over asking.
Days on Market for Panama City, FL
How long does it take to sell a home in Panama City, FL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 56 Days | 61 Days | +8.2% |
Summary: Homes in Panama City had an average of 61 days on market in Apr 2024, up by 8.2% compared to last year.
Breakdown of Home Sale Times
91 Homes Were Sold
Under 30 Days
65 Homes Were Sold
In 30 - 90 Days
55 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Panama City are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 211 homes were sold in Panama City; 43% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 26% 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.
© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing 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. This property is offered without respect to any protected classes in accordance with the law.
Based on information from the Georgia MLS © 2024.