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Gulf Crest Condo Home Values: What Homes Actually Sell For

Buying here? See Gulf Crest Condo homes for sale and the Gulf Crest Condo community guide (Panama City).

Gulf Crest Condo (Panama City, FL): 9 recorded closings in the 12 months ending 2026-09-20, a 15-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 91.9% of original asking; the median sale took 134 days (window ending 2026-09-20).

The 15-year recorded price history

Over the recorded series, Gulf Crest Condo’s median sold price moved from $322,750 (2012) to $615,000 (12 months ending 2026-09-20) — +91% over that span, with every year’s figure from recorded closings, not a model.

The last decade in Gulf Crest Condo, briefly

The recorded series starts in 2012 at $322,750. The 2020–22 run-up did what it did everywhere — Gulf Crest Condo’s median moved +78% from 2019 to 2022. Against the 2022 peak of $740,000, the current median stands at -17%. Annual sales volume here has ranged from 3 to 19 closings a year (10-yr average 11.2). With roughly 11.2 closings a year, Gulf Crest Condo’s medians move in steps, not curves — a handful of unusual sales can swing a year, which is why the sales count sits next to every figure above.

At Gulf Crest Condo’s $615,000 median and Bay County’s adopted 12.28 mills (FY2025-26), a home assessed at that price carries roughly $7,550 a year in property tax before exemptions, or about $7,070 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.

Selling in Gulf Crest Condo right now: what the record says

Current asking prices run a median $649,450 against the $615,000 recorded sold median (+6%) — the gap between what sellers hope and what the record shows. Demand check: 0% of Gulf Crest Condo’s listings are under contract, against 14% for ZIP 32407 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 Gulf Crest Condo reads 17/100 (computed from DOM, sale-to-list, and absorption; 2020–21 peaked in the 70s here).

Asking and recorded sold prices are within a few percent of each other here, so the table above is close to what a Gulf Crest Condo buyer will actually pay; the spread on any single home comes down to size, condition and timing.

How Gulf Crest Condo compares with its neighbors

Communities buyers shopping Gulf Crest Condo 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.

More Gulf Crest Condo: 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