Is Panama City Beaches, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Panama City Beaches is a neutral's market

Buyer's
Market

Difference Since August 2021

At the same time last year, Panama City Beaches was a Seller's Market.

Key Takeaway

Panama City Beaches is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in Panama City Beaches, FL cost?

Median Sold Price

$429,320

$337/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$86,184(+25.1%)

Key Takeaway

Homes in Panama City Beaches have sold for 25.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $247.5K$340.2K
+37.5%
2 $318.8K$409.9K
+28.6%
3 $375.7K$459.9K
+22.4%
4 $476.1K$639.5K
+34.3%
5+ $872.5K$950K
+8.9%

Median Sold Price Compared To Nearby Cities

Panama City Beach
+30.3%
Panama City
+27.0%
Panama City Beaches
+25.1%
Walton Beaches
+21.8%
Southport
+13.6%

How many homes are available in Panama City Beaches, FL?

Number of Homes For Sale

Jul 2022Aug 2022%
1,5261,636+7.2%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 234259
+10.7%
2 479514
+7.3%
3 487514
+5.5%
4 205211
+2.9%
5+ 121138
+14.0%

Number of Homes Sold

Jul 2022Aug 2022%
204260+27.5%

Asking Price vs. Sold Price

186 Homes Were Sold
Under Asking

53 Homes Were Sold
At Asking

21 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Panama City Beaches, you may be able to get a good deal. 71.5% of homes here sold below asking price last month.

Average Sale Time

Aug 2021Aug 2022%
33 Days40 Days+21.9%

Breakdown of Home Sale Times

136 Homes Were Sold
Under 30 Days

97 Homes Were Sold
In 30 - 90 Days

27 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Panama City Beaches are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Panama City Beaches, FL

Panama City Beaches, FL has 1,636 homes on the market. The number of homes for sale in Panama City Beaches, FL increased by 7.2% between July 2022 and August 2022. The median list price of listings available in August 2022 was $429,320, while the average time on the real estate market was 40 days. Real estate listing prices changed between July 2022 and August 2022: the cost of 1 bedroom properties went up by 37.5%, the cost of 2 bedrooms properties went up by 28.6%, 3 bedrooms properties prices increased by 22.4%, the cost of 4 bedrooms properties went up by 34.3%, prices of 5 bedrooms properties went up by 8.9%. Volume of homes for sale in this real estate market have seen the following changes: volume of 1 bedroom homes went up by 10.7%, 2 bedrooms homes inventory increased by 7.3%, volume of 3 bedrooms homes went up by 5.5%, number of 4 bedrooms homes increased by 2.9%, 5 bedrooms homes inventory increased by 14%. In August 2022 more than 21 listings in Panama City Beaches, FL were sold above the asking price. During the same period more than 53 listings were sold at asking price, while more than 186 were sold below.

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