Watercrest
Condos for Sale in Panama City, FL

Watercrest Condo market snapshot (as of September 20, 2026): the median sale price is about $585K, and a median 95 days on market for closed sales. The trailing-12-month median is down 11% from the prior 12 months and up 229% since 2012, computed from record-level CPAR MLS closed sales (15 closings in the current window).

In ZIP 32407 (Panama City), 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.

CPAR sales records identify 19 homes in Watercrest Condo that have changed hands since 2012, built between 1987 and 1987 (median 1987), with a median living area of about 1,404 sq ft and a typical 2-bedroom, 2-bath layout; 100% are condominiums. Source: CPAR closed-sale history compiled by Momentum Research; counts reflect homes with a recorded MLS sale, not every home in the community.

Watercrest is a Panama City condo community where pricing has cooled from its recent peak even as long-term values remain well ahead of where they started over a decade ago — a market that rewards patience on both sides of the transaction.

Ten closings is not much data to build a strategy on, and that scarcity is itself the story: this is not a building where you can expect multiple comparable sales to lean on, and each transaction moves the median more than it would in a deeper market. A median days-on-market of 165.5 confirms it — units here are not moving in weeks, and sellers should plan for a longer runway rather than assume urgency will work in their favor.

The 8.7% year-over-year decline puts current pricing in buyer-favorable territory relative to last year, even though the 239% gain since 2012 shows the building has been a strong long-term hold overall. No community amenities are currently identified from MLS listings for Watercrest, so buyers evaluating the building should confirm directly what is and is not included at the property level rather than assuming amenity access.

A market this thin — 10 closings, a 165.5-day median hold, and a market heat score of 19 — punishes guesswork on pricing and timing. We track the actual closings as they happen, not a stale comp list, so sellers price to the real conditions and buyers know when a listing is genuinely priced to move versus testing the market.

Listings in this community report association dues of about $1,078 per month ($12,936 a year) — the median AssociationFee across 108 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, 2026-09.

Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.