$8,016 Closing Credit*
$675,000
3,190 SqFt
3 Beds
•3 Full Baths
Listing Office: Dalton Wade Inc
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 September 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
$466,785
$329/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
-$8,055(-1.7%)
Key Takeaway
Homes in Panama City Beach have sold for 1.7% less than they did a year ago.
Summary: The median home sold price in Panama City Beach was $466,785 in September 2024, down 1.7% from last year, and the median price per square foot was $329.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $362K | $355K | -1.9% |
| 2 Bedrooms | $458.6K | $425.6K | -7.2% |
| 3 Bedrooms | $499.5K | $490.4K | -1.8% |
| 4 Bedrooms | $603.3K | $591.9K | -1.9% |
| 5+ Bedrooms | $949K | $1.0M | +10.1% |
Summary: Panama City Beach housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.9%, 2 bedroom homes decreased by 7.2%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes increased by 10.1%.
Median Sold Price Compared To Nearby Cities
| Southport | $429.5K | $435.1K | +1.3% |
| Panama City Beaches | $472.1K | $467.5K | -1.0% |
| Panama City Beach | $474.8K | $466.7K | -1.7% |
Housing Supply in Panama City Beach, FL
How many homes are available in Panama City Beach, FL?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 1,772 | 1,776 | 0.2% |
Summary: The Panama City Beach real estate market had 1,776 homes for sale in September 2024, a 0.2% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 350 | 350 | 0.0% |
| 2 Bedrooms | 560 | 566 | +1.1% |
| 3 Bedrooms | 544 | 545 | 0.2% |
| 4 Bedrooms | 188 | 182 | -3.2% |
| 5+ Bedrooms | 130 | 133 | +2.3% |
Summary: The Panama City Beach housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 1.1%, 3 bedroom homes increased by 0.2%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes increased by 2.3%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 145 | 111 | -23.4% |
Asking Price vs. Sold Price
87 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
11 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. 78.4% of homes here sold below asking price last month.
Summary: A total of 111 homes were sold or pending in Panama City Beach in September 2024, down by 23.4% month-over-month. Of the 111 sold homes, 78% were sold under asking, 12% were sold at asking, and 10% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 71 Days | 119 Days | +67.4% |
Summary: Homes in Panama City Beach had an average of 119 days on market in Sep 2024, up by 67.4% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
28 Homes Were Sold
In 30 - 90 Days
57 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 September 2024, 111 homes were sold in Panama City Beach; 23% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 51% of homes were sold over 90 days.
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