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 June 2023
At the same time last year, Panama City Beaches was a Seller's Market.
Housing Prices in Panama City Beaches, FL
How much do homes in Panama City Beaches, FL cost?
Median Sold Price
$459,069
$339/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Panama City Beaches was $459,069 in June 2024, down 3.2% from last year, and the median price per square foot was $339.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $360K | $349.5K | -2.9% |
2 Bedrooms | $447.4K | $410K | -8.3% |
3 Bedrooms | $480.3K | $497K | +3.5% |
4 Bedrooms | $605.2K | $620K | +2.4% |
5+ Bedrooms | $817.5K | $1.1M | +34.6% |
Summary: Panama City Beaches housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.9%, 2 bedroom homes decreased by 8.3%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 34.6%.
Median Sold Price Compared To Nearby Cities
Panama City | $341.4K | $345K | +1.0% |
Southport | $475K | $461.3K | -2.9% |
Panama City Beach | $485K | $469.8K | -3.1% |
Panama City Beaches | $474.3K | $459K | -3.2% |
Housing Supply in Panama City Beaches, FL
How many homes are available in Panama City Beaches, FL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
2,201 | 2,242 | +1.9% |
Summary: The Panama City Beaches real estate market had 2,242 homes for sale in June 2024, a 1.9% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 432 | 443 | +2.5% |
2 Bedrooms | 730 | 727 | -0.4% |
3 Bedrooms | 645 | 670 | +3.9% |
4 Bedrooms | 237 | 248 | +4.6% |
5+ Bedrooms | 157 | 154 | -1.9% |
Summary: The Panama City Beaches housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 2.5%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes decreased by 1.9%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
189 | 171 | -9.5% |
Asking Price vs. Sold Price
137 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 171 homes were sold or pending in Panama City Beaches in June 2024, down by 9.5% month-over-month. Of the 171 sold homes, 80% were sold under asking, 16% were sold at asking, and 4% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
64 Days | 89 Days | +39.8% |
Summary: Homes in Panama City Beaches had an average of 89 days on market in Jun 2024, up by 39.8% compared to last year.
Breakdown of Home Sale Times
56 Homes Were Sold
Under 30 Days
53 Homes Were Sold
In 30 - 90 Days
62 Homes Were Sold
Over 90 Days
Summary: During June 2024, 171 homes were sold in Panama City Beaches; 33% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.