Dolphin
Homes for Sale in Panama City Beach, FL
All 785 homes for sale in Panama City Beach, FL · median $369,000 · 407 homes for sale in 32407 · Bay County homes for sale
True comps, carrying-cost math, and listings before the portals.
Market Heat
Over the 12 months ending 2026-09-20, 7 recorded sales closed at a median of $760,000, a median 52 days on market, sellers accepting 91% of original asking (+7% versus the prior year). At the median price and Bay County's FY2025-26 rate of 12.28 mills, annual property tax runs about $9,330 ($8,850 with the full homestead exemption).
| Location | Panama City Beach, Bay County, FL · ZIP 32407, 32408 |
|---|---|
| Homes in the community | 65 (FL DOR 2025 assessment roll) |
| Years built | 1998–2024 (median 2005.0) |
| Typical living area | 3,198 sq ft (median) |
| Sale prices, last 12 months | $760,000 median across 7 closed sales · +7.1% vs the prior 12 months |
| Days on market (closed sales) | 52 median |
| For sale right now | 0 active, 0 pending |
| Owner-occupied (homestead) share | 62% |
Data as of September 20, 2026. Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate; housing-stock figures from Florida Department of Revenue public records. Market figures describe homes, not residents. Cite as: Momentum Realty, “Dolphin Bay key facts,” movewithmomentum.com/neighborhoods/dolphin-bay, data as of September 20, 2026.
Dolphin Bay's mid-$700s median is driven mostly by size, not scarcity of listings. A median living area near 2,856 square feet, paired with a build era centered around 2003, points to larger-format homes rather than compact beach cottages, and that square footage is doing most of the work on price.
Only five closings fall inside the current window, so the 22.6% year-over-year move should be read as directional, not statistical. A market heat score of 49 and median days on market just over 50 both suggest a community trading at a normal, unhurried pace rather than one facing bidding pressure. Sellers should price on comparable size and condition rather than assume the recent price gain repeats; buyers have room to negotiate on timeline.
Dolphin right now
🟡 Still climbing. The trailing-12-month median ($760K) is up 7.1% from the prior 12 months ($710K). With about 7 sales a year, a single closing can swing this number, so read the level and the decade, not one year's move.Momentum Research, record-level CPAR MLS closed sales, 12-month windows ending September 20. Confidence: Medium (7 and 6 sales in the two windows).
Jump to: Price history & scorecard · Homes for sale · Schools · FAQ
· Updated October 1, 2026 · Live data: CPAR MLS, refreshed twice daily · MLS facts carry their source; interpretation lines are Momentum Research · Data sources & freshness
Nearby homes for sale
No active listings inside DolphinHomes for Sale in Panama City Beach, FL right now. These are the 6 closest homes on the market, by straight-line distance from the community's center; some may sit just outside its boundary.
Listing data from the MLS feeds named on each listing page; deemed reliable but not guaranteed. Refreshed nightly.
The 60-Second Overview
Dolphin market snapshot (as of September 20, 2026): the median sale price is about $760K, and a median 52 days on market for closed sales. The trailing-12-month median is up 7% from the prior 12 months, computed from record-level CPAR MLS closed sales (7 closings in the current window).
In ZIP 32407 (Panama City Beach), 1,458 homes closed in the last 12 months at a median of $398K ($183/sq ft), down 1.6% year over year, with a median 80 days on market. Right now 1,101 active and 151 pending listings put supply at about 6.7 months — a buyer's market. See the live ZIP 32407 housing market and the Bay County market.
County records show 5 qualified sales in Dolphin Bay across 2024–2025 (3 in 2024, 2 in 2025), median $799,000 — the last recorded sale per parcel on the Florida DOR 2025 assessment roll, independent of the MLS.
Dolphin is a community of 65 homes in Panama City Beach, Bay County, built between 1998 and 2024 (median 2005.0), with a median living area of about 3,198 square feet. 62% of parcels are homesteaded, the owner-occupancy proxy in the Florida DOR assessment roll (2025 roll, public records).
Dolphin Bay is a low-turnover pocket of Panama City Beach built out mostly between 1998 and 2024, with a homestead share near 66% suggesting most owners hold these as primary residences rather than short-term rental stock.
Who Dolphin is best for.
Best for
- Buyers wanting a larger, established home as a primary residence rather than a rental
- Buyers comfortable with a slower-moving, lower-volume market and a longer search window
- Buyers prioritizing square footage and lot character over on-site clubhouse or resort amenities
Probably not for
- Buyers seeking short-term rental income tied to on-site resort amenities
- Buyers who need heavy recent comparable sales data to validate a price before committing
- Buyers wanting a compact, low-maintenance beach unit rather than a larger single-family footprint
Price History: What Homes Here Have Actually Sold For
Median sale price over the trailing 12 months ending September 20 of each year, from record-level CPAR MLS closed sales. Same methodology as every appreciation figure on this page: the 2026 point ($760K) IS the median in the snapshot above, and the move from 2025 ($710K) IS the +7.1% one-year change.
Windows contain 0 to 10 sales each (7 in the current window); every figure carries its sample size, and thin markets swing on single closings. Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
14% of homes for sale in ZIP 32407 are already under contract (under contract ÷ under contract + active listings) — a read on how much of the available inventory buyers have already claimed. Source: MLS data (2026-09-20).
Dolphin Market Scorecard
Dolphin is currently a balanced market..
Go deeper: ZIP market scorecard · county scorecard · true cost calculator · affordability calculator.
Live data: CPAR MLS, refreshed twice daily. Market metrics only; these describe homes for sale and recent sales, not residents.
Housing distress & ownership in Dolphin Bay, Panama City Beach
Who owns here, how much is not owner-occupied, and how much for-sale inventory is under distress.
Source: Momentum Realty Research. Ownership & parcels from the FL DOR 2025 tax roll; distress from MLS active-listing status/remarks; price from MLS closed sales. Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
The Dolphin buying strategy.
If we were buying in Dolphin today, this is the order of operations we would run for our clients.
Underwrite the condition first. Price the roof, HVAC, and systems honestly before judging any list price; condition swings value here more than square footage alone.
Match the home to real comps. Recent sales of similar condition and lot, not the asking price, tell you what a home is worth.
Move deliberately, not desperately. Neither side has a decisive edge, so a well-prepared, fairly-priced offer wins without overpaying.
Line up financing and inspection early. A pre-approval and an inspection plan let you act fast and negotiate from evidence.
Keep an agent in your corner. The listing agent works for the seller; we represent you and prepare a hand-built valuation before any offer in Dolphin.
Size Over Scarcity
With only 114 homes in the community and just five closings in the current window, Dolphin Bay is not a market you read off a chart with confidence. The median price near $760,000 reflects a home base that runs large — a median living area of 2,856 square feet is well above typical beach-area norms — so price per square foot, not headline price, is the number worth checking against any specific listing.
The homestead share of roughly 66% is the more telling data point. In a beach market where investment and rental ownership is common, a two-thirds owner-occupied rate signals a community bought and held as a residence rather than flipped for rental yield. No community amenities are listed in current MLS data, so whatever draws buyers here is the home and the setting itself, not a clubhouse or gated package.
The location and the amenities are priced into every listing in Dolphin. The deal is won or lost on condition, the comps, and the renovation math.
Momentum Buy Score.
Our proprietary 0 to 10 read across the factors that decide how a home in Dolphin buys, holds, and resells. Momentum Research; not an appraisal.
Momentum Intelligence Scores are our proprietary, qualitative assessment on a 0 to 10 scale, built from the record-level market data on this page. They are a framework for comparing communities, not a guarantee of future value and not advice on a specific home; unlike an automated value estimate they do not price your home, they grade the community on evidence you can inspect. Composite is the plain average of the 3 factors (6.0). Basis: Recent Direction +7.1% year-over-year; Owner Commitment 62% owner-occupied; Pricing Power 91.1% sale-to-list. Refreshed with each data update.
Why work with Momentum here
A community with 114 homes and a handful of annual closings does not give you a reliable trend line from public portals alone. We track Dolphin Bay's actual contract activity, not just the headline stats, and we can tell you whether a specific listing's price holds up against the real comparables in a thin-data market like this one.
Dolphin in 15 seconds.
HOA, CDD & Fees
- HOA dues reported around $150/month (about $1,800/yr) · median of 4 MLS listings, most billed quarterly
- Any club/amenity membership is billed separately
Listings in this community report association dues of about $150 per month ($1,800 a year) — the median AssociationFee across 4 MLS records, normalised to a monthly figure; most are billed quarterly. Dues change with budgets and can differ by section or product type; confirm the current figure with the association before you offer. Source: MLS listing records, 2026-10.
Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.
Tools for a Dolphin buy.
Free calculators to pressure-test the real cost before you tour.
Selling here is won on condition and pricing to real comps, not an automated estimate. The right number comes from closed Dolphin sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Dolphin, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Dolphin home worth?
Get a no-obligation home value based on real comparable sales in Dolphin, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
See all homes for sale in Panama City Beach →
Recently off market in Dolphin Bay
Homes in Dolphin Bay that recently left the market. Each address opens its public-record profile: county-recorded value, property taxes, the last recorded sale, community sales history, and what is for sale nearby now. 2 on record.
- 7020 Starfish Court · off market
- 7022 Starfish Court · off market
Frequently Asked Questions
What is the median home price in Dolphin?
How long do homes in Dolphin take to sell?
How many homes are in Dolphin?
What share of Dolphin is owner-occupied?
When were the homes in Dolphin built?
Who is the best real estate agent for Dolphin?
How do I find a top Panama City Beach real estate agent who knows Dolphin?
Can Momentum Realty connect me with an agent for Dolphin?
Where is Dolphin, and what county is it in?
Is Dolphin a good place to live?
Should you buy in Dolphin?
An honest fit check. We will tell you when it is not your community.
Data sources & freshness
| Live listings | CPAR MLS, refreshed twice daily (last: September 17, 2026) |
| Community market stats | CPAR MLS closed sales, 12-month windows ending September 20, 2026 |
| Housing stock & ownership | Florida DOR assessment roll (street-list match (3 streets, ZIP 32407/32408)) |
| Under-contract shares | CPAR MLS records, as of 2026-09-20 |
| Historical depth | Closed-sale records back to 2012 (89 transactions analyzed) |
Verify the primary sources yourself: Florida DOR · U.S. Census · FEMA flood maps · Citizens Property Insurance.
Momentum Research figures are our own analysis of CPAR MLS records; MLS data is deemed reliable but not guaranteed. Methodology: how Momentum market scores are computed. Market metrics describe homes for sale and recent sales, not residents.
Own a home here?
You just read the data. Now see what your home is worth.
The numbers on this page move markets in the aggregate. The number that matters to you is what a buyer pays for your address. Momentum sells for 1.25% above the CPAR MLS member average and 8 days faster, and we’ll price yours against live local comps.
Looking to buy here? Search homes for sale →
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A real valuation with real comps from a local listing agent, not an instant algorithm. Response within one business day.
See how Dolphin Bay fits the bigger picture — live prices, inventory, and Momentum Scores:
More on Dolphin
- Home values · What homes in Dolphin actually sell for
Nearby Communities
Explore more neighborhoods near Dolphin with Momentum Realty’s local guides.