$2,874 Closing Credit*
$242,000
935 SqFt
2 Beds
•2 Full Baths
Christopher J Pelly, Listing Office: Counts Real Estate Group Inc
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 November 2023
Since last year, Panama City Beaches has remained a Buyer'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
$454,239
$326/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$19,439(-4.1%)
Key Takeaway
Homes in Panama City Beaches have sold for 4.1% less than they did a year ago.
Summary: The median home sold price in Panama City Beaches was $454,239 in November 2024, down 4.1% from last year, and the median price per square foot was $326.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $362K | $340K | -6.1% |
| 2 Bedrooms | $443.6K | $393.2K | -11.4% |
| 3 Bedrooms | $496.9K | $490K | -1.4% |
| 4 Bedrooms | $612.1K | $610.6K | -0.3% |
| 5+ Bedrooms | $1.1M | $1.1M | -2.1% |
Summary: Panama City Beaches housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.1%, 2 bedroom homes decreased by 11.4%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes decreased by 2.1%.
Median Sold Price Compared To Nearby Cities
| Southport | $426.3K | $439.4K | +3.1% |
| Panama City | $343.1K | $339.2K | -1.1% |
| Panama City Beaches | $473.6K | $454.2K | -4.1% |
| Panama City Beach | $475.2K | $454.5K | -4.4% |
Housing Supply in Panama City Beaches, FL
How many homes are available in Panama City Beaches, FL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2,046 | 2,053 | 0.3% |
Summary: The Panama City Beaches real estate market had 2,053 homes for sale in November 2024, a 0.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 386 | 398 | +3.1% |
| 2 Bedrooms | 659 | 664 | +0.8% |
| 3 Bedrooms | 627 | 622 | -0.8% |
| 4 Bedrooms | 226 | 218 | -3.5% |
| 5+ Bedrooms | 148 | 151 | +2.0% |
Summary: The Panama City Beaches housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.1%, 2 bedroom homes increased by 0.8%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes increased by 2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 185 | 147 | -20.5% |
Asking Price vs. Sold Price
116 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
9 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. 78.9% of homes here sold below asking price last month.
Summary: A total of 147 homes were sold or pending in Panama City Beaches in November 2024, down by 20.5% month-over-month. Of the 147 sold homes, 79% were sold under asking, 15% were sold at asking, and 6% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 74 Days | 101 Days | +36.3% |
Summary: Homes in Panama City Beaches had an average of 101 days on market in Nov 2024, up by 36.3% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
47 Homes Were Sold
In 30 - 90 Days
56 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 November 2024, 147 homes were sold in Panama City Beaches; 30% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange program of Central Panhandle Association of REALTORS®. IDX information is provided exclusively 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 deemed reliable but not guaranteed. Properties subject to prior sale, change, withdrawal or rental. Copyright© 2024 Central Panhandle Association of REALTORS.© All Rights Reserved.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. Copyright 2024 BeachesMLS, Inc.