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 2020

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

$199,999

$140/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2020

+$8,124(+4.2%)

Key Takeaway

Homes in Panama City have sold for 4.2% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2020Oct 2021%
1 $86.4K$110K
+27.2%
2 $130.5K$139.5K
+6.9%
3 $192K$199.9K
+4.1%
4 $266K$296.7K
+11.6%
5+ $302K$367.4K
+21.7%

Median Sold Price Compared To Nearby Cities

Panama City Beaches
+14.4%
Springfield
+7.4%
Panama City
+4.2%
Lynn Haven
0.1%
Youngstown
-1.8%

How many homes are available in Panama City, FL?

Number of Homes For Sale

Sep 2021Oct 2021%
265270+1.9%

Homes For Sale By Bedroom Count

# BEDSSep 2021Oct 2021%
1 31
-66.7%
2 4755
+17.0%
3 139135
-2.9%
4 5658
+3.6%
5+ 2021
+5.0%

Number of Homes Sold

Sep 2021Oct 2021%
6051-15.0%

Asking Price vs. Sold Price

30 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

7 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. 58.8% of homes here sold below asking price last month.

Average Sale Time

Oct 2020Oct 2021%
98 Days51 Days-47.4%

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Panama City has remained consistent over time.

About Panama City, FL

Homes for sale in Panama City, FL have reached 270. The number of listings in Panama City, FL increased by 1.9% between September 2021 and October 2021. The median list price of listings available in October 2021 was $199,999, while the average time on the real estate market was 51 days. This housing market listing prices have changed between September 2021 and October 2021: 1 bedroom properties prices increased by 27.2%, the cost of 2 bedrooms properties went up by 6.9%, 3 bedrooms properties became 4.1% more expensive, prices of 4 bedrooms properties went up by 11.6%, the cost of 5 bedrooms properties went up by 21.7%. Housing inventory have changed in this real estate market: 1 bedroom homes inventory decreased by 66.7%, the quantity of 2 bedrooms homes went up by 17%, 3 bedrooms homes became 2.9% less available, 4 bedrooms homes inventory increased by 3.6%, 5 bedrooms homes inventory increased by 5%. Panama City, FL housing market in October 2021 saw over 7 listings sold above listed price, more than 14 sold at listed price and over 30 sold below.

Related Neighborhood Trend Reports