Listing Office: SweetBay Realty
Panama City Housing Market Report December 2024•Bay County, Florida
Housing Prices in Panama City, FL
How much do homes in Panama City, FL cost?
Housing Market Conditions
Is Panama City, FL a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Panama City is a Buyer's Market
Difference Since December 2023
At the same time last year, Panama City was a Seller's Market.
Panama City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Median Sold Price
Based on all homes sold in the last 12 months
Homes in Panama City have sold for 1.2% less than they did a year ago.
Summary: The median home sold price in Panama City was $339,456 in December 2024, down 1.2% from last year, and the median price per square foot was $202.
Median Sold Price By City
City | Dec 2023 | Dec 2024 | Change YoY |
---|---|---|---|
Springfield | $250K | $260K | +4.0% |
Lynn Haven | $349K | $350K | 0.3% |
Youngstown | $285K | $284K | -0.4% |
Panama City | $343.6K | $339.4K | -1.2% |
Median Sold Price By Bedrooms
Beds | Dec 2023 | Dec 2024 | Change YoY |
---|---|---|---|
11 Bedroom | $345K | $315K | -8.7% |
22 Bedrooms | $369.7K | $345K | -6.7% |
33 Bedrooms | $308.7K | $304.3K | -1.4% |
44 Bedrooms | $353.9K | $369.7K | +4.5% |
55+ Bedrooms | $414.5K | $529.5K | +27.7% |
Summary: Panama City housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes decreased by -8.7%. The home price for 2 bedroom homes decreased by -6.7%. The home price for 3 bedroom homes decreased by -1.4%. The home price for 4 bedroom homes increased by +4.5%. The home price for 5 bedroom homes increased by +27.7%.
Housing supply in Panama City, FL
How many homes are available in Panama City, FL?
Number of Homes For Sale
Last Month | 2 months ago | Change MoM |
---|---|---|
1,532Last MonthDec 2024 | ||
1,5542 months agoNov 2024 | -1.4 % Change MoMNov – Dec |
Summary: The Panama City real estate market had 1,532 homes for sale in Dec 2024, a 1.4 % decrease compared to Nov 2024.
Number of Homes Sold
Last Month | 2 months ago | Change MoM |
---|---|---|
196Last MonthDec 2024 | ||
1702 months agoNov 2024 | +15.3 % Change MoMNov – Dec |
Homes For Sale By Bedroom Count
Beds | Nov 2024 | Dec 2024 | Change MoM |
---|---|---|---|
11 Bedroom | 196 | 198 | +1.0% |
22 Bedrooms | 290 | 290 | 0.0% |
33 Bedrooms | 661 | 646 | -2.3% |
44 Bedrooms | 311 | 295 | -5.1% |
55+ Bedrooms | 96 | 103 | +7.3% |
Summary: Panama City housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes increased by +1.0%. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes decreased by -2.3%. The inventory for 4 bedroom homes decreased by -5.1%. The inventory for 5 bedroom homes increased by +7.3%.
Asking Price vs. Sold Price
How much do homes in Panama City, FL cost?
Over Asking Price11 Homes
At Asking Price39 Homes
Under Asking Price146 Homes
If you're buying a home in Panama City, you may be able to get a good deal. 74.5% of homes here sold below asking price last month.
Summary: A total of 196 homes were sold or pending in Panama City in December 2024, up by 15.3% month-over-month. Of the 196 sold homes, 74% were sold under asking, 20% were sold at asking, and and 6% were sold over asking.
Days on Market for Panama City, FL
How long does it take to sell a home in Panama City, FL?
Breakdown of Home Sale Times
Under 30 Days73 Homes
30 – 90 Days59 Homes
Over 90 Days64 Homes
Many homes in Panama City are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 196 homes were sold in Panama City; 37% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
Average Sale Time
This Year | 1 year ago | Change YoY |
---|---|---|
79 DaysThis YearDec 2024 | ||
69 Days1 year agoDec 2023 | +13.9 % Change YoYDec 2023 – Dec 2024 |
Summary: Homes in Panama City had an average listing age of 79 days in Dec 2024, up by 13.9% compared to the previous year.
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Newest Listings in Panama City, FL
What homes are available in Panama City, FL?
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MLS Disclaimers and Copyright
Based on information from Central Panhandle Association of REALTORS® MLS, Emerald Coast MLS, Stellar MLS, Miami MLS, and Pensacola MLS for the period 01/01/2023 - 01/01/2025
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/26/2025, 3:20:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/25/2025, 11:50:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Copyright 2025 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/25/2025, 10:49:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/26/2025, 3:20:48 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/25/2025, 11:55:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.