Palm Bay
Homes for Sale in Panama City, FL
True comps, carrying-cost math, and listings before the portals.
Market Heat
Photo via CPAR MLS
As of September 2026, Palm Bay in Panama City, FL has 2 homes for sale. Over the 12 months ending 2026-09-12, 9 recorded sales closed at a median of $560,000, a median 43 days on market, sellers accepting 95% of original asking (+4% versus the prior year). At the median price and Bay County's FY2025-26 rate of 12.28 mills, annual property tax runs about $6,870 ($6,390 with the full homestead exemption).
Palm Bay's pricing runs on square footage and vintage more than anything else. With a median living area of roughly 2,772 square feet and a median build year of 1994, this is a community of larger, established homes rather than compact new construction, and that scale is what supports a median price of $560,000.
A median of 29 days on market and a heat score of 56 point to a steady, unhurried pace rather than a bidding-war environment. Sellers here are working with real, seasoned homes that show their age at different rates, so pricing to condition matters more than pricing to the neighborhood average.
Palm Bay right now
🟡 Still climbing. The trailing-12-month median ($560K) is up 3.7% from the prior 12 months ($540K) and up 106% since 2012. With about a dozen 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 12. Confidence: Medium (9 and 7 sales in the two windows).
Jump to: Price history & scorecard · Homes for sale · Schools · FAQ
· Updated September 19, 2026 · Live data: CPAR MLS, refreshed twice daily · MLS facts carry their source; interpretation lines are Momentum Research · Data sources & freshness
The 60-Second Overview
Palm Bay market snapshot (as of September 12, 2026): the median sale price is about $560K, and a median 43 days on market for closed sales. The trailing-12-month median is up 4% from the prior 12 months and up 106% since 2012, computed from record-level CPAR MLS closed sales (9 closings in the current window).
In ZIP 32407 (Panama City), 1,448 homes closed in the last 12 months at a median of $393K ($183/sq ft), down 1.2% year over year, with a median 82 days on market. Right now 1,105 active and 174 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.
Palm Bay in Panama City spans homes built from 1953 through 2024, giving the market a wide range of construction eras under one roof rather than a single uniform look or layout.
Who Palm Bay is best for.
Best for
- Buyers wanting more living space and willing to budget around a median price near $560,000
- Move-up buyers comfortable inspecting and pricing homes on individual condition rather than a cookie-cutter standard
- Buyers planning to stay long term, given the community's high owner-occupancy share
Probably not for
- Buyers who want brand-new construction with no older mechanical systems to evaluate
- Buyers seeking a fast-turnover, high-heat market with quick multiple-offer timelines
- Buyers who need built-in community amenities, since none are currently identified from active listings
Price History: What Homes Here Have Actually Sold For
Median sale price over the trailing 12 months ending September 12 of each year, from record-level CPAR MLS closed sales. Same methodology as every appreciation figure on this page: the 2026 point ($560K) IS the median in the snapshot above, and the move from 2025 ($540K) IS the +3.7% one-year change.
Windows contain 7 to 22 sales each (9 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.
The real cost & risk here
Before the list price, the Florida math the portals skip. These are Bay County typicals — your exact home, flood zone, and insurance quote will vary, so verify each before you offer.
Check it for your address: look up your flood zone (FEMA) · insurance by county · true-cost calculator · Bay County scorecard.
County typicals from Momentum’s Florida housing data (Zillow & Realtor.com aggregates, Census, FRED), updated monthly; insurance modeled. Flood zone is property-specific — always confirm via FEMA.
11% of homes for sale in ZIP 32408 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 (2026-09-19).
Palm Bay Market Scorecard
Palm Bay is currently a thin data market. Limited supply, a median asking price of $450,000, and homes go under contract in about 90 days.
Typical home value in the 32408 ZIP is $370,292, about 2.6% above the Florida norm (Zillow Home Value Index).
Go deeper: ZIP market scorecard · county scorecard · true cost calculator · affordability calculator.
Live data: realMLS, refreshed twice daily. Typical value: Zillow Research. Market metrics only; these describe homes for sale and recent sales, not residents.
Housing distress & ownership in Palm Bay, Panama City
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.
Homes For Sale Right Now in Palm Bay
Live MLS inventory for Palm Bay. Every active listing, what is under contract right now, and the last 12 months of closed sales, refreshed twice a day. Closed comps beat an algorithm's guess every time.
Active and pending Palm Bay listings as of 2026-09-17, priced high to low. Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate. Tap any home to ask about it.
The Palm Bay buying strategy.
If we were buying in Palm Bay 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 Palm Bay.
A community built on size and age, not sameness
With 263 homes tracked and a median year built of 1994, Palm Bay is not a single-phase subdivision — it's a longer-running community where mid-1990s construction sits alongside both older and newer homes. That spread means two houses at the same price point can differ substantially in mechanical age, layout, and finish, so a walk-through matters more here than in a newer, more uniform build-out.
Price has moved up 1.8% year over year and 105% since 2012, which speaks to a long runway of gradual value change rather than a recent spike. A homestead share near 80% suggests a market weighted toward owner-occupied living rather than fast turnover, which tends to support a steadier, less speculative resale environment.
The location and the amenities are priced into every listing in Palm Bay. 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 Palm Bay 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 (6.9). Basis: Long-Term Appreciation +106% since 2012; Recent Direction +3.7% year-over-year; Pricing Power 94.9% sale-to-list. Refreshed with each data update.
Why work with Momentum here
In a community spanning seven decades of construction, knowing which era, layout, and condition profile matches a buyer's budget is the whole game. We track how Palm Bay's median price, days on market, and closing activity are actually moving right now, so pricing and offer strategy reflect current conditions rather than a generic county-wide read.
Palm Bay in 15 seconds.
HOA, CDD & Fees
- HOA dues reported around $48/month (about $576/yr) · median of 14 MLS listings, most billed annually
- Any club/amenity membership is billed separately
Listings in this community report association dues of about $48 per month ($576 a year) — the median AssociationFee across 14 MLS records, normalised to a monthly figure; most are billed annually. 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, 2026-09.
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 Palm Bay 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 Palm Bay sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Palm Bay, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Palm Bay home worth?
Get a no-obligation home value based on real comparable sales in Palm Bay, 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 homes for sale in Palm Bay on the map →
Recently off market in Palm Bay
Homes in Palm 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. 3 on record.
- 127 Palm Bay Boulevard · off market
- 147 Palm Grove Boulevard · off market
- 8236 Grand Bay Boulevard · off market
Frequently Asked Questions
What is the median home price in Palm Bay?
How long do homes in Palm Bay take to sell?
Have Palm Bay home prices gone up?
Who is the best real estate agent for Palm Bay?
How do I find a top Panama City real estate agent who knows Palm Bay?
Can Momentum Realty connect me with an agent for Palm Bay?
Where is Palm Bay, and what county is it in?
Should you buy in Palm Bay?
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 12, 2026 |
| Under-contract shares | CPAR MLS records, as of 2026-09-08 |
| Historical depth | Closed-sale records back to 2012 (206 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 →
What’s your home worth in your area?
A real valuation with real comps from a local listing agent, not an instant algorithm. Response within one business day.
See how Palm Bay fits the bigger picture — live prices, inventory, and Momentum Scores:
More Panama City & Panama City & Bay County guides
Compare before you commit - every guide covers pricing, HOA/CDD, insurance posture, and fit. Browse all of Panama City & Bay County or the full Neighborhood Finder.
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