This is a First Quarter market report and analysis for Condos, Townhomes and homes for sale in Panama City and the surrounding areas in Bay County of Florida. Real estate market data and analysis is provided by The Panama City Realty Group and Bay County Association of Realtors.

Excluded are Mobile and Manufactured homes.

The following numbers represent the difference between 2015 and 2016. We are primarily a 2nd home and vacation home market and as such, our numbers are highly subjective when in an election year

Condominiums and Townhomes

• Inventory has increased approx 2% over last year
• Prices have decreased approximately by 10%
• There are approximately 10% less listings available last quarter than in 2015 

These number

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This is a market report for Condos, Townhomes and homes for sale in Panama City and the surrounding areas in Bay County of Florida. Real estate market data and analysis is provided by The Panama City Realty Group.

Average sale price for a condo was $223,390 where the average price for a home was $193,648! The inventory supply of condos remains steady at 8.6 months and the supply for homes remains at 7.1 months!

This means we remain in a mixed market for both buyers and sellers, with plenty of inventory available!

Excluded are Mobile and Manufactured homes.

 

Condos and Towmhomes	Single Family Homes

If you're interested in purchasing or selling a condo or home in Panama City or Panama City Beach

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The housing and condo markets have been quite busy this spring so far, which is a good sign for the economy and our local tourism trade.

Residential real estate (both condos and homes) continue to lead the recovery and demand as you can see (below) by the number of properties selling at higher prices than last year. Due to the high number of listings in the condo market, sellers need to price their homes either at, or slightly below market value to sell quickly.

Buyers are primarily looking for homes that are move-in-ready so a bit of extra work may be needed by sellers to move their properties quickly. Multiple offers exsist in circumstances where a property is well-priced and turnkey (move-in ready).

If you are interested in selling your

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The Panama City Real Estate market summaryhas been posted and the results are less than conforting...

Total Condo sales took quite a beating in July even though prices dipped slightly. Hopefully, the decrease in the mortgage rate will help remedy this in August.

Home sales however, only dipped slightly thanks to prices falling significantly. 

 

Panama City Condo and Home Sales:

• Panama City Beach Condo Sales
• Panama City Homes for sale

Foreclosures and short-sales.continue to be a significant factor in driving down prices or both condos and homes in the local real estate market. These property types continue to drive sales as well as home and condo values. 

Panama City Homes for sale

Owners, put my technology to work for

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The local Residential Panama City Florida Real Estate Market statistics and summaries for June, 2009 are now available for your convenience.

For the most part, the market continues to hold steady with slight increases and decreases in expected areas:

• An increase in expired listings shows agents continue to take overpriced listings that will not sell in today's market.  Sellers must be educated when pricing their homes for sale.  It remains a buyers market and homes must be priced accordingly.
• Condo sales decreased slightly in part due to short sales and foreclosures as well as low appraisal values.  The time-to-close factor plays a significant role in actual sales.  In addition, smartly market priced condos continue to sell well.
• Single

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