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 February 2023
At the same time last year, Panama City Beach was a Neutral Market.
Housing Prices in Panama City Beach, FL
How much do homes in Panama City Beach, FL cost?
Median Sold Price
$486,132
$355/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Panama City Beach was $486,132 in February 2024, up 5.3% from last year, and the median price per square foot was $355.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $366.8K | $369.9K | +0.9% |
2 Bedrooms | $458.4K | $464.9K | +1.4% |
3 Bedrooms | $499.8K | $515K | +3.0% |
4 Bedrooms | $599K | $625K | +4.3% |
5+ Bedrooms | $868.2K | $1.1M | +26.7% |
Summary: Panama City Beach housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.9%, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 26.7%.
Median Sold Price Compared To Nearby Cities
Southport | $440K | $475.9K | +8.2% |
Panama City Beach | $461.7K | $486.1K | +5.3% |
Panama City Beaches | $459.8K | $474.1K | +3.1% |
Housing Supply in Panama City Beach, FL
How many homes are available in Panama City Beach, FL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
1,362 | 1,500 | +10.1% |
Summary: The Panama City Beach real estate market had 1,500 homes for sale in February 2024, a 10.1% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 276 | 307 | +11.2% |
2 Bedrooms | 450 | 476 | +5.8% |
3 Bedrooms | 419 | 462 | +10.3% |
4 Bedrooms | 148 | 171 | +15.5% |
5+ Bedrooms | 69 | 84 | +21.7% |
Summary: The Panama City Beach housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.2%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 15.5%, and 5+ bedroom homes increased by 21.7%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
96 | 124 | +29.2% |
Asking Price vs. Sold Price
102 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 124 homes were sold or pending in Panama City Beach in February 2024, up by 29.2% month-over-month. Of the 124 sold homes, 82% were sold under asking, 15% were sold at asking, and 3% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
93 Days | 78 Days | -16.3% |
Summary: Homes in Panama City Beach had an average of 78 days on market in Feb 2024, down by 16.3% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
42 Homes Were Sold
In 30 - 90 Days
39 Homes Were Sold
Over 90 Days
Summary: During February 2024, 124 homes were sold in Panama City Beach; 35% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.