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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Panama City is a seller's market

Buyer's
Market

Difference Since April 2021

Since last year, Panama City has remained a Seller's Market.

Key Takeaway

Panama City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Panama City, FL cost?

Median Sold Price

$235,000

$151/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2021

+$50,000(+27.0%)

Key Takeaway

Homes in Panama City have sold for 27% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSApr 2021Apr 2022%
1 $91.5K$125K
+36.6%
2 $126.5K$168.2K
+33.0%
3 $189.1K$229K
+21.1%
4 $270K$320K
+18.5%
5+ $300K$439K
+46.3%

Median Sold Price Compared To Nearby Cities

Panama City
+27.0%
Panama City Beaches
+25.4%
Springfield
+22.1%
Lynn Haven
+12.1%
Youngstown
+6.7%

How many homes are available in Panama City, FL?

Number of Homes For Sale

Mar 2022Apr 2022%
186177-4.8%

Homes For Sale By Bedroom Count

# BEDSMar 2022Apr 2022%
1 11
0.0%
2 3838
0.0%
3 101102
+1.0%
4 3829
-23.7%
5+ 87
-12.5%

Number of Homes Sold

Mar 2022Apr 2022%
5753-7.0%

Asking Price vs. Sold Price

28 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Panama City, you may be able to get a good deal. 52.8% of homes here sold below asking price last month.

Average Sale Time

Apr 2021Apr 2022%
52 Days53 Days+1.9%

Breakdown of Home Sale Times

35 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

11 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Panama City 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, FL

Panama City, FL has 177 homes for sale to choose from. In April 2022 in Panama City, FL there were 4.8% less homes for sale than in March 2022. While the average time on the market in April 2022 was 53 days, the median list price was $235,000. This housing market listing prices have changed between March 2022 and April 2022: 1 bedroom properties prices increased by 36.6%, prices of 2 bedrooms properties increased by 33%, 3 bedrooms properties became 21.1% more expensive, the cost of 4 bedrooms properties went up by 18.5%, prices of 5 bedrooms properties increased by 46.3%. This housing market inventory have changed: 1 bedroom homes inventory did not change, 2 bedrooms homes did not move, 3 bedrooms homes became 1% more available, the quantity of 4 bedrooms homes went down by 23.7%, volume of 5 bedrooms homes went down by 12.5%. In April 2022, from all listings sold in Panama City, FL there were more than 12 sold above asking price, over 28 sold below and more than 13 were sold right at the asked price.

Related Housing Market Reports