Is Panama City Beaches, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Panama City Beaches was a Seller's Market.
Key Takeaway
Panama City Beaches is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Panama City Beaches, FL
How much do homes in Panama City Beaches, FL cost?
Median Sold Price
$470,119
$345/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Panama City Beaches has remained the same since last year.
Summary: The median home sold price in Panama City Beaches was $470,119 in March 2024, up 0.2% from last year, and the median price per square foot was $345.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $359K | $362.5K | +1.0% |
| 2 Bedrooms | $442.3K | $436.5K | -1.3% |
| 3 Bedrooms | $499.2K | $489.4K | -2.0% |
| 4 Bedrooms | $605.9K | $625.4K | +3.2% |
| 5+ Bedrooms | $857.7K | $1.3M | +57.4% |
Summary: Panama City Beaches housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1%, 2 bedroom homes decreased by 1.3%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 57.4%.
Median Sold Price Compared To Nearby Cities
| Panama City | $319.9K | $347.1K | +8.5% |
| Southport | $445K | $476.2K | +7.0% |
| Panama City Beach | $475.2K | $479.9K | +1.0% |
| Panama City Beaches | $469.2K | $470.1K | 0.2% |
Housing Supply in Panama City Beaches, FL
How many homes are available in Panama City Beaches, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,918 | 2,079 | +8.4% |
Summary: The Panama City Beaches real estate market had 2,079 homes for sale in March 2024, a 8.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 355 | 413 | +16.3% |
| 2 Bedrooms | 622 | 679 | +9.2% |
| 3 Bedrooms | 591 | 615 | +4.1% |
| 4 Bedrooms | 226 | 235 | +4.0% |
| 5+ Bedrooms | 124 | 137 | +10.5% |
Summary: The Panama City Beaches housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.3%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 10.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 165 | 163 | -1.2% |
Asking Price vs. Sold Price
122 Homes Were Sold
Under Asking
33 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Panama City Beaches, you may be able to get a good deal. 74.8% of homes here sold below asking price last month.
Summary: A total of 163 homes were sold or pending in Panama City Beaches in March 2024, down by 1.2% month-over-month. Of the 163 sold homes, 75% were sold under asking, 20% were sold at asking, and 5% were sold over asking.
Days on Market for Panama City Beaches, FL
How long does it take to sell a home in Panama City Beaches, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 69 Days | 95 Days | +37.6% |
Summary: Homes in Panama City Beaches had an average of 95 days on market in Mar 2024, up by 37.6% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
42 Homes Were Sold
In 30 - 90 Days
74 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Panama City Beaches are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 163 homes were sold in Panama City Beaches; 29% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 45% of homes were sold over 90 days.
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The data relating to real estate for sale on this website comes in part from the Southwest Florida Multiple Listing Service. The information being provided is 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 has not been verified, is not guaranteed, and is subject to change. Real estate listings held by other brokerage firms other are marked with the IDX logo and detailed information about them includes the name of the listing brokers.
Based on information from the Georgia MLS © 2024.