Shermans
Homes for Sale in Panama City, FL
All 253 homes for sale in Panama City, FL · median $349,900 · 115 homes for sale in 32401 · Bay County homes for sale
True comps, carrying-cost math, and listings before the portals.
Photo via CPAR MLS
As of October 2026, Shermans in Panama City, FL has 4 homes for sale and 1 pending, asking from $189,900 to $379,000 (median $252,500). Over the 12 months ending 2026-09-20, 3 recorded sales closed at a median of $219,000, a median 158 days on market, sellers accepting 92% of original asking (+12% versus the prior year). Homes listed or recently sold were built 1950–2026 with 1 new construction; none of the 5 geocoded homes sit in a FEMA special flood hazard zone (median elevation 32 ft). At the median price and Bay County's FY2025-26 rate of 12.28 mills, annual property tax runs about $2,690 ($2,200 with the full homestead exemption).
Homes For Sale Right Now in Shermans
Live MLS inventory for Shermans. 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 Shermans listings as of 2026-10-14, 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.
Shermans is a thin-data market right now — the current snapshot is built on just 3 closings, so treat the $219,000 median as directional rather than a precise gauge of what any single home will fetch. A median days-on-market of 158 tells you more than the price does: homes here are sitting, and that gives buyers real room to negotiate on terms and timeline.
Prices are essentially flat to slightly softer, down 1.6% year over year. That is not a market correcting sharply — it reads more like a quiet stretch with few transactions to move the needle either way. Sellers should price to the current pace, not to hoped-for urgency, and buyers should assume they will need patience rather than speed to get a deal done.
Shermans right now
🟢 Still climbing. The trailing-12-month median ($219K) is up 12.3% from the prior 12 months ($195K). With about 3 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: Low (3 and 3 sales in the two windows).
Jump to: Price history & scorecard · Homes for sale · Schools · FAQ
· Updated October 16, 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
Shermans market snapshot (as of September 20, 2026): the median sale price is about $219K, and a median 158 days on market for closed sales. The trailing-12-month median is up 12% from the prior 12 months, computed from record-level CPAR MLS closed sales (3 closings in the current window).
In ZIP 32401 (Panama City), 337 homes closed in the last 12 months at a median of $307K, up 0.5% year over year, with a median 62 days on market. Right now 166 active and 29 pending listings — a buyer's market. See the live ZIP 32401 housing market and the Bay County market.
CPAR sales records identify 7 homes in Shermans that have changed hands since 2020, built between 1950 and 2026 (median 2008), with a median living area of about 1,488 sq ft and a typical 3-bedroom, 2-bath layout. Source: CPAR closed-sale history compiled by Momentum Research; counts reflect homes with a recorded MLS sale, not every home in the community.
Shermans is a smaller, lower-volume corner of the Panama City market in Bay County, where pricing sits well under the broader county norms and the sales pace runs slow — a combination that tends to favor buyers willing to do their own diligence rather than lean on comps.
The setting & the homes.
Aerial and on-site photos of Shermans. Swipe to explore the community.
Swipe or use the arrows → tap any photo to enlarge
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ShermansPhotos from CPAR MLS listings in Shermans; content deemed reliable but not guaranteed.
Who Shermans is best for.
Best for
- Buyers prioritizing a lower purchase price over a fast, high-certainty transaction.
- Buyers comfortable evaluating a home largely on its own merits, given the lack of identified community amenities.
- Buyers with flexible timelines who can wait through a 150-plus day selling cycle.
Probably not for
- Buyers who need tight, recent comps to justify a purchase price with confidence.
- Buyers expecting shared community amenities as part of the purchase.
- Sellers who need a quick sale and cannot accommodate an extended days-on-market.
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 ($219K) IS the median in the snapshot above, and the move from 2025 ($195K) IS the +12.3% one-year change.
Windows contain 0 to 5 sales each (3 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.
16% of homes for sale in ZIP 32401 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 (2026-10-17).
Shermans Market Scorecard
Shermans is currently a balanced market., a median asking price of $229,000, and homes go under contract in about 284 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.
Shermans 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 Shermans buying strategy.
If we were buying in Shermans 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 Shermans.
A market defined by patience, not pace
With only 3 closings feeding the current window, Shermans does not behave like a market with a clear rhythm — every sale carries outsized weight in the numbers, and a single high or low closing can shift the median noticeably next quarter. That is worth keeping in mind whether you are pricing a listing or sizing up an offer.
The 158-day median days-on-market is the more telling number here. It signals a market where homes are not moving quickly, likely due to a mix of condition, pricing expectations, or simple lack of buyer traffic. No community amenities are identified from current MLS listings, so buyers evaluating Shermans should focus on the individual home and lot rather than expecting shared recreational features to be part of the value proposition.
The location and the amenities are priced into every listing in Shermans. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
In a market this thin on transaction volume, pricing a home well — or knowing what an asking price actually signals — takes more than pulling a median off a report. We track how few comps exist here and price and negotiate accordingly, rather than treating a 3-sale sample like a stable trend line.
Shermans in 15 seconds.
HOA, CDD & Fees
- HOA status not on record. Verify any dues before you offer
- Any club/amenity membership is billed separately
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 Shermans 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 Shermans sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Shermans, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Shermans home worth?
Get a no-obligation home value based on real comparable sales in Shermans, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
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Recently off market in Shermans
Homes in Shermans 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. 1 on record.
- 802 College Avenue · off market
| Location | Panama City, Bay County, FL · ZIP 32401, 32405 |
|---|---|
| Home types (current listings and sales) | singlefamilyresidence 60%, attached 20%, duplexes 20% |
| Sale prices, last 12 months | $219,000 median across 3 closed sales · +12.3% vs the prior 12 months |
| Days on market (closed sales) | 158 median |
| For sale right now | 5 active, 0 pending · median asking $229,000 |
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. Market figures describe homes, not residents. Cite as: Momentum Realty, “Shermans key facts,” movewithmomentum.com/neighborhoods/shermans, data as of September 20, 2026.
Housing distress & ownership in Shermans, 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 Shermans
The newest homes for sale in Shermans right now, newest first. Each link opens the full listing with every photo, the price history and a tour request.
- 521 Kraft Avenue, Panama City, FL 32401 $225,000 · 3 bd · 2 ba · 105 days on market Courtesy of Salty Marlin Realty LLC
- 754 Sherman Avenue B, Panama City, FL 32401 $189,900 · 3 bd · 2 ba · 189 days on market Courtesy of CENTURY 21 Commander Realty
- 754 Sherman Avenue A & B, Panama City, FL 32401 $379,000 · 6 bd · 4 ba · 284 days on market Courtesy of CENTURY 21 Commander Realty
- 802 College Avenue, Panama City, FL 32401 $280,000 · 3 bd · 2 ba · 1311 days on market Courtesy of Anchor Realty Florida
Checked against the MLS Oct 16, 2026. All new listings in this market.
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Recent Developments in Shermans
Development, infrastructure, retail, and school activity affecting Shermans, 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 2 miles north of Shermans.
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 southeast of Shermans.
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 1 mile northwest of Shermans.
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 7 miles northeast of Shermans.
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 southeast of Shermans.
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 south of Shermans.
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.
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Frequently Asked Questions
What is the median home price in Shermans?
How long do homes in Shermans take to sell?
Who is the best real estate agent for Shermans?
How do I find a top Panama City real estate agent who knows Shermans?
Can Momentum Realty connect me with an agent for Shermans?
Where is Shermans, and what county is it in?
Should you buy in Shermans?
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 14, 2026) |
| Community market stats | CPAR MLS closed sales, 12-month windows ending September 20, 2026 |
| Under-contract shares | CPAR MLS records, as of 2026-09-20 |
| Historical depth | Closed-sale records back to 2013 (34 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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See how Shermans fits the bigger picture — live prices, inventory, and Momentum Scores:
More on Shermans
- Home values · What homes in Shermans actually sell for
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