The Panama City Real Estate market summaryhas been posted and the results are a bit more conforting than last month...

Total Condo sales improved slightly over July while prices increased slightly. Hopefully, this trend will continue through the end of the year.  We have seen the bottom of the market just past us.

Home sales followed the condo trend, which could very well signify the market is moving upwards again.

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 kepping prices below market values on both condos and homes in the local real estate market. These property types…

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

Panama City Condo and Home Sales:

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

Foreclosures and short-sales.continue to be a 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 you.

If you are interested in selling your home or condo, contact me today (850) 774-6582 for a free no obligation Home value report.

Buyers, when you're ready to purchase a Panama City home or condo, contact me directly (850) 774-6582 for the latest

…

The Panama City Real Estate market summary for August 2010 has been published for your convenience.

An interesting aspect of the market numbers is that if we were not faced with a recession/depression the numbers indicate we would be entering a sellers market.

Home sales were up from July, however the price of homes decreased significantly.

Condo sales decreased slightly as prices remained about the same as July.

Banks and lenders continue to foreclose at an alarming rate, shortsales and foreclosures are now the market norm and there is no end in sight.

On the bright side, Panama City homes and condos that are not in foreclosure or short sale status and are priced correctly are sold very quickly - usually in less than 30 days.

 

 

I've just posted a Panama City Real Estate market update for the month of May, 2010.  In addition my monthly Panama City Real Estate market report is available for download as well.

A few interesting things to note regarding last months numbers:

Panama City Condo sales fell slightly as well as the average condo price.  However, non condo residential sales rose slightly following slight decreases in home prices.

This may not only be due to the new airport, but also the Oil Spill may have kept many who were considering purchasing homes or condos in  Panama City, Florida to wait until the crisis is over.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

"Liked this post? Subscribe to my Panama City Real Estate blog RSS feed and

…