Preserve On The Bay
Homes for Sale in Panama City, FL
All 253 homes for sale in Panama City, FL · median $349,900 · 277 homes for sale in 32408 · Bay County homes for sale
True comps, carrying-cost math, and listings before the portals.
Market Heat
Photo via CPAR MLS
As of October 2026, Preserve On The Bay in Panama City, FL has 4 homes for sale, asking from $739,000 to $8,475,000 (median $1,017,500). Over the 12 months ending 2026-09-20, 6 recorded sales closed at a median of $592,000, a median 135 days on market, sellers accepting 95% of original asking (-38% versus the prior year). Homes listed or recently sold were built 2003–2019; 4 of 4 report an HOA (median $161/mo); none of the 4 geocoded homes sit in a FEMA special flood hazard zone (median elevation 10 ft). At the median price and Bay County's FY2025-26 rate of 12.28 mills, annual property tax runs about $7,270 ($6,780 with the full homestead exemption).
Last 30 days in Preserve On The Bay: 2 new listings (median asking $944,500). As of October 17, 2026, Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate.
Homes For Sale Right Now in Preserve On The Bay
Live MLS inventory for Preserve On The 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 Preserve On The Bay listings as of 2026-10-17, 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.
Preserve On The Bay is a small enclave — 102 homes total — and the numbers reflect that scale. With only 7 closings in the current window, a median price of $635,000 is a real data point but not a statistically deep one; a single high-end or distressed sale can move it more than it would in a larger neighborhood. The homes themselves are substantial, with a median living area over 3,800 square feet, which puts this community firmly in larger-format territory relative to typical Bay County stock.
The market posture right now is soft. A median 101 days on market and a heat score of 31 point to a buyer's market, not a seller's one. Prices are down 21.2% year over year, though still up 66% since 2012, so this reads as a normal pullback from an elevated run rather than a structural collapse. Sellers here need to price to the current pace, not to last year's comps, and buyers have room to negotiate on terms and timeline.
Preserve On The Bay right now
🔴 Off the recent peak. The trailing-12-month median ($592K) is down 38.4% from the prior 12 months ($961K) and up 40% 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 20. Confidence: Medium (6 and 12 sales in the two windows).
Jump to: Price history & scorecard · Homes for sale · Schools · FAQ
· Updated October 18, 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
Preserve On The Bay market snapshot (as of September 20, 2026): the median sale price is about $592K, and a median 135 days on market for closed sales. The trailing-12-month median is down 38% from the prior 12 months and up 40% since 2012, computed from record-level CPAR MLS closed sales (6 closings in the current window).
In ZIP 32408 (Panama City), 1,792 homes closed in the last 12 months at a median of $400K, down 0.6% year over year, with a median 75 days on market. Right now 1,195 active and 202 pending listings — a buyer's market. See the live ZIP 32408 housing market and the Bay County market.
County records show 13 qualified sales in Preserve On The Bay across 2024–2025 (10 in 2024, 3 in 2025), median $875,000 — the last recorded sale per parcel on the Florida DOR 2025 assessment roll, independent of the MLS.
Preserve On The Bay is a community of 137 homes in Panama City, Bay County, built between 1994 and 2024 (median 2002), with a median living area of about 3,806 square feet. 63% of parcels are homesteaded, the owner-occupancy proxy in the Florida DOR assessment roll (2025 roll, public records).
Preserve On The Bay pairs larger-format homes — a median of roughly 3,800 square feet — with a build era spanning 1994 to 2024, so buyers see both established construction and newer builds within the same small footprint of 102 homes.
The setting & the homes.
Aerial and on-site photos of Preserve On The Bay. Swipe to explore the community.
Swipe or use the arrows → tap any photo to enlarge
Preserve On The Bay
Preserve On The Bay
Preserve On The Bay
Preserve On The BayPhotos from CPAR MLS listings in Preserve On The Bay; content deemed reliable but not guaranteed.
Who Preserve On The Bay is best for.
Best for
- Buyers seeking a larger home, with median living space near 3,800 square feet, over a smaller or amenity-heavy footprint
- Buyers comfortable purchasing in a small, low-transaction-volume community where comps are limited
- Buyers looking to negotiate in a market currently favoring longer decision timelines, given the 101-day median days on market
Probably not for
- Buyers who want a community built around shared recreational amenities, since none are currently identified from MLS listings
- Buyers who need a fast, predictable resale timeline in the near term
- Buyers who want a large pool of recent comparable sales to lean on when negotiating price
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 ($592K) IS the median in the snapshot above, and the move from 2025 ($961K) IS the -38.4% one-year change.
Windows contain 2 to 16 sales each (6 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.
12% 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 (2026-10-18).
Preserve On The Bay Market Scorecard
Preserve On The Bay is currently a balanced market., a median asking price of $4,680,000, and homes go under contract in about 162 days.
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.
Preserve On The Bay on the map.
Every active, pending, and recently sold home, plotted. Toggle the layers and tap a home for the details.
Listing locations from CPAR MLS. Map data © OpenStreetMap contributors.
The Preserve On The Bay buying strategy.
If we were buying in Preserve On The 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 Preserve On The Bay.
A Thin Market With Large Homes
The defining fact about Preserve On The Bay is its size — just over 100 homes — which means every sale carries outsized weight in the data. The 7-closing window behind the current median is enough to establish a price level but too small to treat as a precise trend line. Anyone comparing this community to larger subdivisions should adjust their expectations for how much any single data point can be trusted.
Homestead share sits at 63%, which tells you most owners here are in primary residences rather than treating the homes as investment or rental units. Combined with a median year built of 2001 across a 1994–2024 span, this is a community of established, larger homes rather than a fast-turnover new-construction pipeline. Current MLS listings show no identified community amenities, so buyers evaluating this neighborhood should treat the home and lot itself — not shared facilities — as the primary draw.
The location and the amenities are priced into every listing in Preserve On The 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 Preserve On The 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 4 factors (4.3). Basis: Long-Term Appreciation +40% since 2012; Recent Direction -38.4% year-over-year; Owner Commitment 63% owner-occupied; Pricing Power 94.6% sale-to-list. Refreshed with each data update.
Why work with Momentum here
In a market this thin, pricing and negotiating strategy matter more than usual — a handful of closings sets the tone, and a 101-day median DOM means sellers who misprice can sit for a long stretch. We track the small number of transactions here closely enough to tell you whether a listing is priced to the current pace or still anchored to last year's stronger numbers.
Preserve On The Bay in 15 seconds.
What it really costs to own in Preserve On The Bay
The parts of the monthly number a mortgage calculator leaves out, from the tax roll, the MLS, Citizens and FEMA. Property facts only.
| Property tax | Current owners' bills run a median of $8,102/yr across 8 listings here (MLS tax records, 2026-10-18). |
|---|---|
| HOA dues | Median $2,004/year (about $167/month) across 165 MLS listings (most billed annually; 2026-10-15). Dues cover what the documents say they cover; ask for the budget and reserve study. |
| Home and flood insurance | The average Citizens Property Insurance premium in Bay County is $1,928/yr (1,264 policies, Citizens detail by county, April 2026); private-market quotes depend on roof age, wind mitigation and construction. |
| Roof and age | Median build year 2005 across 8 listings. An original roof here would be about 21 years old; under Florida's 2022 reform (SB 2-D) carriers may require an inspection past 15 years, so budget for a roof report, and for replacement where it fails. |
Estimated carrying cost at the median asking price, before the mortgage: about $1,003/month (tax $675, HOA $167, insurance $161). An estimate from the sources above, not a quote.
Email me new listings in Preserve On The Bay
One e-mail a day, only when a home lists here, with price, beds, baths and a link to every listing. Straight from the MLS feed; no account needed.
Ask an agent about Preserve On The Bay
Have a question about the homes, fees, rules or commute here? A Momentum agent who works Preserve On The Bay will answer, and the answer is published on this page for the next buyer.
HOA, CDD & Fees
- HOA dues reported around $2,004/year (about $167/month) · median of 165 MLS listings, most billed annually
- Any club/amenity membership is billed separately
Listings in this community report association dues of about $2,004 a year ($167 a month) — the median AssociationFee across 165 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, 2026-10.
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 Preserve On The 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 Preserve On The Bay sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Preserve On The 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 Preserve On The Bay home worth?
Get a no-obligation home value based on real comparable sales in Preserve On The 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 all homes for sale in Panama City →
Recently off market in Preserve On The Bay
Homes in Preserve On The 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. 4 on record.
- 3206 Deer Haven Boulevard · off market
- 3522 Fox Run Boulevard · off market
- 3703 Preserve Bay Boulevard · off market
- 3714 Preserve Bay Boulevard · off market
| Location | Panama City, Bay County, FL · ZIP 32408, 32413 |
|---|---|
| Homes in the community | 137 (FL DOR 2025 assessment roll) |
| Years built | 1994–2024 (median 2002) |
| Typical living area | 3,806 sq ft (median) |
| Sale prices, last 12 months | $592,000 median across 6 closed sales · -38.4% vs the prior 12 months |
| Days on market (closed sales) | 135 median |
| For sale right now | 2 active, 2 pending · median asking $4,680,000 |
| Owner-occupied (homestead) share | 63% |
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, “Preserve On The Bay key facts,” movewithmomentum.com/neighborhoods/preserve-on-the-bay, data as of September 20, 2026.
Housing distress & ownership in Preserve On The 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.
Just listed in Preserve On The Bay
The newest homes for sale in Preserve On The Bay right now, newest first. Each link opens the full listing with every photo, the price history and a tour request.
- 3729 Preserve Bay Boulevard, Panama City, FL 32408 $739,000 · 3 bd · 3 ba · 6 days on market Courtesy of Top Producers Real Estate Group
- 3618 Preserve Boulevard, Panama City, FL 32408 $1,150,000 · 4 bd · 4 ba · 11 days on market Courtesy of Counts Real Estate Group Inc
- 3202 Blue Heron Boulevard, Panama City Beach, FL 32408 $885,000 · 4 bd · 5 ba · 162 days on market Courtesy of Berkshire Hathaway HomeServices
- 3730 Preserve Bay Boulevard, Panama City, FL 32408 $8,475,000 · 5 bd · 10 ba · 212 days on market Courtesy of Watersound Real Estate
Checked against the MLS Oct 18, 2026. All new listings in this market.
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Recent Developments in Preserve On The Bay
Development, infrastructure, retail, and school activity affecting Preserve On The Bay, tracked by our team and summarized from public reporting and official sources, with links to the original coverage. Last updated October 2026.
- September 2026Retail & Dining
Panama City meets Houston developer interested in part of Panama City Mall site
Panama City officials met a Houston developer interested in buying a portion of the largely vacant Panama City Mall, owned by Hendon Properties, with a retail focus. Discussions covered rezoning, possible CRA participation and plan submittal. The mayor called the FDOT US 231 widening, planned to six lanes from US 98 to SR 20, the biggest holdup.
What it may mean for the marketPossible retail redevelopment of a large vacant site could add shopping options near the US 231 corridor, with timing tied to road widening and rezoning. The site is about 3 miles north of Preserve On The Bay.
Source: WJHG - August 2026Development
Deal reached to redevelop historic Panama City Grammar School into apartments and townhomes
Panama City reached a deal for developer Zachary Seymour to buy the 1914 Panama City Grammar School on East Seventh Street and convert it to apartments and townhomes. The city would waive about $375,000 in code fines and a $100,000 CRA grant is pending approval. Seymour has one year to finish structural repairs to roofs, windows and doors.
What it may mean for the marketReuse of a vacant historic building would add downtown-area residential units and remove a long-standing vacant property. The site is less than a mile east of Preserve On The Bay.
Source: WJHG - August 2026Infrastructure
HCA Florida Gulf Coast Hospital announces $125 million expansion
HCA Florida Gulf Coast Hospital announced a $125 million expansion on its 23rd Street campus, including a new patient tower with 34 additional beds, a 16-bed orthopedic and spine unit, a fourth cath lab, an expanded women's center and a 5,000-square-foot outpatient entrance expansion. The project is in design, with construction of 24 to 36 months and completion targeted for 2029.
What it may mean for the marketAdded hospital capacity and specialty services would improve local healthcare access and add medical-sector employment along the 23rd Street corridor. The site is about 2 miles northwest of Preserve On The Bay.
Source: WJHG - August 2026Infrastructure
Bay County approves $13.5 million water treatment plant expansion
Bay County commissioners approved a $13.5 million contract with NCMC Construction to add three large sand filters (30 by 50 feet each) to the county water treatment plant, which now runs 11 filters. Construction is expected to start soon and take about a year, and officials say water bills should not rise because of it.
What it may mean for the marketAdded filtration and backup capacity supports water service reliability for a county where demand has more than doubled in 15 years. The site is about 8 miles northeast of Preserve On The Bay.
Source: WJHG - July 2026Civic
Panama City approves 12-month moratorium on AI data centers
Panama City commissioners unanimously approved a 12-month pause on AI data centers in certain areas, following a six-month restriction adopted by Bay County the prior week. The city said it will use the period to study data center operations and revisit how they fit into local zoning and land-use rules.
What it may mean for the marketA temporary pause shapes where data centers can locate while the city reviews zoning and land-use standards. The site is less than a mile east of Preserve On The Bay.
Source: WJHG News Channel 7 - June 2026Infrastructure
Panama City moves downtown marina slip construction to bid, ends City Marina Partners deal
Panama City put the first 50 boat slips at the Downtown Marina out for contractor bids, with construction expected to begin shortly after a contract is awarded and the bid window closing June 16. Commissioners also ended their working relationship with City Marina Partners and budgeted payment for work already completed.
What it may mean for the marketProgress on downtown marina slip construction advances waterfront infrastructure in the Panama City core. The site is less than a mile southeast of Preserve On The Bay.
Source: WJHG News Channel 7
Summaries reflect public reporting and official sources linked above as of the dates shown. Project details, timelines, and approvals can change. Commentary on potential market effects is general observation, not investment advice or a prediction for any specific property. For the freshest items across the whole region, see This Week in Northeast Florida.
Frequently Asked Questions
What is the median home price in Preserve On The Bay?
How long do homes in Preserve On The Bay take to sell?
How many homes are in Preserve On The Bay?
What share of Preserve On The Bay is owner-occupied?
When were the homes in Preserve On The Bay built?
Have Preserve On The Bay home prices gone up?
Who is the best real estate agent for Preserve On The Bay?
How do I find a top Panama City real estate agent who knows Preserve On The Bay?
Can Momentum Realty connect me with an agent for Preserve On The Bay?
Where is Preserve On The Bay, and what county is it in?
Is Preserve On The Bay a good place to live?
Should you buy in Preserve On The 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: October 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 (5 streets, ZIP 32408/32413)) |
| Under-contract shares | CPAR MLS records, as of 2026-09-20 |
| Historical depth | Closed-sale records back to 2012 (125 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.
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More on Preserve On The Bay
- Home values · What homes in Preserve On The Bay actually sell for