Momentum Housing Data · Home Values · Bay County
Buying here? See Cove Terrace homes for sale and the Cove Terrace community guide (Panama City).
Cove Terrace (Panama City, FL): 19 recorded closings in the 12 months ending 2026-09-20, a 14-year price record, and the year-by-year record — every number from recorded MLS closings, none from an estimate model.
In the current window, sellers accepted a median 96.2% of original asking; the median sale took 53 days (window ending 2026-09-20).
| Year | Median sold | Median $/sqft | Median DOM | Sold ÷ original ask | Sales |
|---|---|---|---|---|---|
| 2026 | $345,000 | — | 53 | 96.2% | 19 |
| 2025 | $325,000 | — | 32 | 92.6% | 20 |
| 2024 | $295,000 | — | 55 | 93.2% | 14 |
| 2023 | $280,000 | — | 5 | 97.8% | 9 |
| 2022 | $316,000 | — | 5 | 100.0% | 25 |
| 2021 | $209,500 | — | 7 | 98.0% | 25 |
| 2020 | $215,000 | — | 26 | 92.0% | 19 |
| 2019 | $154,000 | — | 6 | 96.3% | 22 |
| 2018 | $157,500 | — | 29 | 95.5% | 27 |
| 2017 | $154,000 | — | 32 | 88.8% | 22 |
| 2016 | $186,950 | — | 36 | 93.6% | 26 |
| 2015 | $155,000 | — | 98 | 88.6% | 17 |
| 2014 | $125,000 | — | 36 | 90.2% | 14 |
| 2013 | $130,000 | — | 76 | 92.0% | 13 |
Over the recorded series, Cove Terrace’s median sold price moved from $130,000 (2013) to $345,000 (12 months ending 2026-09-20) — +165% over that span, with every year’s figure from recorded closings, not a model.
The recorded series starts in 2013 at $130,000. The 2020–22 run-up did what it did everywhere — Cove Terrace’s median moved +105% from 2019 to 2022. Annual sales volume here has ranged from 2 to 27 closings a year (10-yr average 20.2).
From the live MLS feed as of 2026-10-01: 4 active listings (plus 1 pending) asking from $214,900 to $429,000, median $349,500; 1 of 4 have been on the market over 60 days (median 15 days so far); the homes listed or recently sold were built between 1949 and 1952 (median 1950); none of the 5 geocoded listed or recently sold homes sits in a FEMA special flood hazard zone (median elevation 24 ft). For a seller this is the competition a buyer will tour alongside your home; for a buyer, the stale share is where negotiating room usually is. See the current Cove Terrace listings →
At Cove Terrace’s $345,000 median and Bay County’s adopted 12.28 mills (FY2025-26), a home assessed at that price carries roughly $4,240 a year in property tax before exemptions, or about $3,750 with the full Florida homestead exemption — a buyer’s first-year figure; a long-time owner’s Save Our Homes cap can be far lower, which is one reason resale taxes jump at closing. Municipal and special-district millage varies inside the county; see the Bay County tax page.
Current asking prices run a median $289,500 against the $345,000 recorded sold median (-16%) — the gap between what sellers hope and what the record shows. Demand check: 0% of Cove Terrace’s listings are under contract, against 15% for ZIP 32401 and 17% for Bay County as a whole — the community is currently absorbing slower than its surroundings, which is negotiating information. Momentum’s market-heat index for Cove Terrace reads 50/100 (computed from DOM, sale-to-list, and absorption; 2020–21 peaked in the 70s here).
Asking prices here currently sit -16% under the recorded sold median — sellers are pricing to move, and the closed record above is the number a buyer's appraiser will see.
We don’t publish algorithm guesses for specific homes — they can’t see condition, upgrades, or your lot. A local agent will prepare a records-based valuation from the same closed-sale data on this page, adjusted for your home. Free, no obligation.
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Communities buyers shopping Cove Terrace are also weighing (nearest by map distance), each on its own recorded 12-month closings. A median well above the neighbors is a ceiling to price against; well below is where the value argument lives.
| Community | Median sold | Median $/sqft | Median DOM | Sales |
|---|---|---|---|---|
| Sudduths | $270,500 | — | 13 | 18 |
| Sudduths 10Th | $410,000 | — | 60 | 4 |
| Cove Condominium | $259,750 | — | 226 | 6 |
| Old Orchard | $206,000 | — | 49 | 7 |
More Cove Terrace: full community guide & homes for sale · choosing an agent here · should you sell now (statewide data) · what selling costs · cash offer vs. listing
Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate. Compiled from recorded MLS closings; deemed reliable but not guaranteed. Figures are medians for the stated windows and change as new sales record; individual homes vary widely. No automated valuation for any specific property appears on this page. Equal Housing Opportunity. © 2026 Move With Momentum LLC — brokerage licensed in FL and GA. Disclosures
Content on this page is compiled from public records, MLS data, and automated data sources, and may contain errors or be out of date. It is provided for general information only and is not a representation about any specific property, community, builder, or association. Verify all information independently before relying on it.