Panama City Housing Market Report January 2025•Bay County, Florida

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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?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Panama City is a Buyer's Market

Difference Since January 2024

At the same time last year, Panama City was a Seller's Market.

Insight

Panama City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$337,558$201/SqFt
-$5,948
-1.7%

Based on all homes sold in the last 12 months

Insight

Homes in Panama City have sold for 1.7% less than they did a year ago.

Summary: The median home sold price in Panama City was $337,558 in January 2025, down 1.7% from last year, and the median price per square foot was $201.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Lynn Haven
0.2%
Springfield
0.0%
Youngstown
-0.4%
Panama City
-1.7%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJan 2024Jan 2025Change YoY
1$345K$310K
-10.1%
2$374K$331.5K
-11.4%
3$309.9K$302.6K
-2.3%
4$351.8K$365.7K
+4.0%
5$415K$535K
+28.9%

Summary: Panama City housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -10.1%. The home price for 2 bedroom homes decreased by -11.4%. The home price for 3 bedroom homes decreased by -2.3%. The home price for 4 bedroom homes increased by +4.0%. The home price for 5 bedroom homes increased by +28.9%.

Housing supply in Panama City, FL

How many homes are available in Panama City, FL?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
1,546Last MonthJan 2025
1,5292 months agoDec 2024
+1.1 %
Change MoMDec – Jan

Summary: The Panama City real estate market had 1,546 homes for sale in Jan 2025, a 1.1 % increase compared to Dec 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
131Last MonthJan 2025
1992 months agoDec 2024
-34.2 %
Change MoMDec – Jan

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsDec 2024Jan 2025Change MoM
1190188
-1.1%
2286297
+3.8%
3631645
+2.2%
4316306
-3.2%
5106110
+3.8%

Summary: Panama City housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes decreased by -1.1%. The inventory for 2 bedroom homes increased by +3.8%. The inventory for 3 bedroom homes increased by +2.2%. The inventory for 4 bedroom homes decreased by -3.2%. The inventory for 5 bedroom homes increased by +3.8%.

Asking Price vs. Sold Price

How much do homes in Panama City, FL cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price10 Homes

At Asking Price34 Homes

Under Asking Price87 Homes

Insight

If you're buying a home in Panama City, you may be able to get a good deal. 66.4% of homes here sold below asking price last month.

Summary: A total of 131 homes were sold or pending in Panama City in January 2025, down by 34.2% month-over-month. Of the 131 sold homes, 66% were sold under asking, 26% were sold at asking, and and 8% 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 Days36 Homes

30 – 90 Days43 Homes

Over 90 Days52 Homes

Insight

Most homes in Panama City are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During January 2025, 131 homes were sold in Panama City; 27% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
84 DaysThis YearJan 2025
62 Days1 year agoJan 2024
+33.7 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in Panama City had an average listing age of 84 days in Jan 2025, up by 33.7% 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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Nearby markets

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MLS Disclaimers and Copyright

Based on information from Central Panhandle Association of REALTORS® MLS, Emerald Coast MLS, Stellar MLS, Pensacola MLS, and Miami MLS for the period 02/01/2023 - 02/01/2025

IDX 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© 2025 Central Panhandle Association of REALTORS.© All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/22/2025, 5:20:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Information Deemed Reliable but not guaranteed. The information being provided is 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. All listings are provided courtesy of the Emerald Coast Association of Realtors, Copyright 2025. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/22/2025, 5:20:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/22/2025, 5:20:11 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Copyright © 2025 by the Multiple Listing Service of the Pensacola Association of REALTORS® This information is believed to be accurate but is not guaranteed. Subject to verification by all parties. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of the Multiple Listing Service of the Pensacola Association of REALTORS®. Florida recognizes single and transaction agency relationships. Information Deemed Reliable But Not Guaranteed. Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/22/2025, 5:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX © 2025 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing 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. This property is offered without respect to any protected classes in accordance with the law.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/22/2025, 5:20:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.