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 April 2023
At the same time last year, Panama City Beaches was a Seller'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
$468,622
$345/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Panama City Beaches have sold for 1.3% less than they did a year ago.
Summary: The median home sold price in Panama City Beaches was $468,622 in April 2024, down 1.3% from last year, and the median price per square foot was $345.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $360K | $362K | +0.6% |
| 2 Bedrooms | $444.7K | $428.2K | -3.7% |
| 3 Bedrooms | $499.7K | $495K | -1.0% |
| 4 Bedrooms | $606.7K | $626.2K | +3.2% |
| 5+ Bedrooms | $897.5K | $1.1M | +25.3% |
Summary: Panama City Beaches housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.6%, 2 bedroom homes decreased by 3.7%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 25.3%.
Median Sold Price Compared To Nearby Cities
| Panama City | $329.9K | $347.6K | +5.4% |
| 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 Beaches, FL
How many homes are available in Panama City Beaches, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2,028 | 2,145 | +5.8% |
Summary: The Panama City Beaches real estate market had 2,145 homes for sale in April 2024, a 5.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 404 | 423 | +4.7% |
| 2 Bedrooms | 663 | 722 | +8.9% |
| 3 Bedrooms | 592 | 618 | +4.4% |
| 4 Bedrooms | 231 | 231 | 0.0% |
| 5+ Bedrooms | 138 | 151 | +9.4% |
Summary: The Panama City Beaches housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.7%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 4.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 9.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 174 | 197 | +13.2% |
Asking Price vs. Sold Price
160 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
14 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. 81.2% of homes here sold below asking price last month.
Summary: A total of 197 homes were sold or pending in Panama City Beaches in April 2024, up by 13.2% month-over-month. Of the 197 sold homes, 81% were sold under asking, 12% were sold at asking, and 7% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 72 Days | 78 Days | +7.6% |
Summary: Homes in Panama City Beaches had an average of 78 days on market in Apr 2024, up by 7.6% compared to last year.
Breakdown of Home Sale Times
74 Homes Were Sold
Under 30 Days
53 Homes Were Sold
In 30 - 90 Days
70 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Panama City Beaches are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 197 homes were sold in Panama City Beaches; 38% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 36% 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.
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