Is Panama City Beach, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Panama City Beach was a Seller's Market.
Housing Prices in Panama City Beach, FL
How much do homes in Panama City Beach, FL cost?
Median Sold Price
$477,347
$351/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Panama City Beach was $477,347 in April 2024, down 1.6% from last year, and the median price per square foot was $351.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $375K | $366.4K | -2.3% |
2 Bedrooms | $469.7K | $445.2K | -5.2% |
3 Bedrooms | $500K | $518K | +3.6% |
4 Bedrooms | $599.9K | $640K | +6.7% |
5+ Bedrooms | $919K | $1.0M | +11.5% |
Summary: Panama City Beach housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.3%, 2 bedroom homes decreased by 5.2%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 11.5%.
Median Sold Price Compared To Nearby Cities
Southport | $458.6K | $477.3K | +4.1% |
Panama City Beaches | $474.9K | $468.6K | -1.3% |
Panama City Beach | $485.1K | $477.3K | -1.6% |
Housing Supply in Panama City Beach, FL
How many homes are available in Panama City Beach, FL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,569 | 1,641 | +4.6% |
Summary: The Panama City Beach real estate market had 1,641 homes for sale in April 2024, a 4.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 331 | 346 | +4.5% |
2 Bedrooms | 509 | 544 | +6.9% |
3 Bedrooms | 451 | 473 | +4.9% |
4 Bedrooms | 178 | 166 | -6.7% |
5+ Bedrooms | 100 | 112 | +12.0% |
Summary: The Panama City Beach housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.5%, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 4.9%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 12%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
121 | 160 | +32.2% |
Asking Price vs. Sold Price
135 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 160 homes were sold or pending in Panama City Beach in April 2024, up by 32.2% month-over-month. Of the 160 sold homes, 84% were sold under asking, 10% were sold at asking, and 6% were sold over asking.
Days on Market for Panama City Beach, FL
How long does it take to sell a home in Panama City Beach, FL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
79 Days | 83 Days | +4.4% |
Summary: Homes in Panama City Beach had an average of 83 days on market in Apr 2024, up by 4.4% compared to last year.
Breakdown of Home Sale Times
56 Homes Were Sold
Under 30 Days
45 Homes Were Sold
In 30 - 90 Days
59 Homes Were Sold
Over 90 Days
Summary: During April 2024, 160 homes were sold in Panama City Beach; 35% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 37% of homes were sold over 90 days.