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 May 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
$473,253
$346/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Panama City Beach was $473,253 in May 2024, down 1.5% from last year, and the median price per square foot was $346.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $368.8K | $365.3K | -1.0% |
2 Bedrooms | $460.2K | $440K | -4.4% |
3 Bedrooms | $498.5K | $520.2K | +4.4% |
4 Bedrooms | $605.3K | $625.4K | +3.3% |
5+ Bedrooms | $817.5K | $1.0M | +27.8% |
Summary: Panama City Beach housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes decreased by 4.4%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 27.8%.
Median Sold Price Compared To Nearby Cities
Southport | $470.8K | $475K | +0.9% |
Panama City Beaches | $471.4K | $468K | -0.7% |
Panama City Beach | $480.3K | $473.2K | -1.5% |
Housing Supply in Panama City Beach, FL
How many homes are available in Panama City Beach, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,709 | 1,778 | +4.0% |
Summary: The Panama City Beach real estate market had 1,778 homes for sale in May 2024, a 4.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 356 | 377 | +5.9% |
2 Bedrooms | 560 | 578 | +3.2% |
3 Bedrooms | 494 | 525 | +6.3% |
4 Bedrooms | 174 | 171 | -1.7% |
5+ Bedrooms | 125 | 127 | +1.6% |
Summary: The Panama City Beach housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.9%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 6.3%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes increased by 1.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
167 | 147 | -12.0% |
Asking Price vs. Sold Price
121 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 147 homes were sold or pending in Panama City Beach in May 2024, down by 12.0% month-over-month. Of the 147 sold homes, 82% were sold under asking, 13% were sold at asking, and 5% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
58 Days | 104 Days | +77.2% |
Summary: Homes in Panama City Beach had an average of 104 days on market in May 2024, up by 77.2% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
43 Homes Were Sold
In 30 - 90 Days
63 Homes Were Sold
Over 90 Days
Summary: During May 2024, 147 homes were sold in Panama City Beach; 28% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.