32304 (Panama City)
Housing Market
Median sale price $222,000, down 13.7% year over year, with homes going under contract in about 28 days, 17 homes on the market.
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Housing Market Analyst
Inventory sits at 2.9 months of supply — tight by the 3-to-6-month balanced benchmark, and 29% of listed homes are already under contract. Prices are down 13.7% versus the prior year, but sellers are still collecting 97.2% of asking. Taken together, the data points to a broadly balanced market where preparation decides who wins.
Who has leverage right now
Leverage scores are derived from the Momentum Score (supply, demand, speed, pricing power, and trend). Right now the data favors sellers.
- Prices — more likely to stabilize than fall sharply. Supply remains below balanced levels even as prices soften; without a meaningful inventory build, further declines tend to be shallow.
- Negotiating power — sellers hold the leverage while 29% of inventory sits under contract.
- Mortgage sensitivity — at 4.9× income, this market is moderately sensitive to rate moves; rate relief tends to show up in demand here quickly.
Derived from current 32304 data, not a prediction or guarantee. Markets move; talk to an agent before acting on any single reading.
The read on 32304 (Panama City)
The median sale price across 32304 currently stands at $222,000, down 13.7% from a year ago. Buyers are paying a median of $208 per square foot. The typical home goes under contract in about 28 days. Sellers are capturing 97.2% of their original asking price on average.
There are 17 active listings on the market, with 12 more already under contract. At the current sales pace that works out to 2.9 months of supply — a seller-leaning market by the standard six-month benchmark. 50 homes closed here over the trailing 12 months.
Zillow's home value index for Bay County stands at $346,094. About 26% of listings county-wide have taken a price cut — a useful gauge of seller flexibility.
Weighing supply, demand, speed, pricing power, and trend together, the Momentum Score for 32304 is 63 of 100 — balanced market territory. This page recalculates every day as new MLS data lands, so the numbers above reflect the market as of August 6, 2026.
32304 since 2012 — and where it’s heading
A median home here sold for $98,840 in 2012 and $255,956 over the last recorded year — 159% appreciation across 14 years of recorded sales. Cash buyers took 25% of recent sales, down from a 43% peak.
Median sale price · 2012–2026 (1,120 recorded sales)
Days on market by year
Cash buyers · share of sales
Home value trend · Bay County (Zillow ZHVI)
For-sale inventory · county (Zillow)
What’s driving 32304
Top inbound states: GA, AL, TX, AZ. Movers arriving report ~$74,894 average income. Source: IRS SOI county-to-county migration, 2022-2023
1,264 Citizens policies in force in Bay County — the state-backed insurer of last resort. Budget insurance into any Bay purchase before you fall in love with a house. Source: Citizens Property Insurance, Detail by County, April 2026
1,685 single-family · 387 multi-family · 11.4 per 1,000 residents. Future supply pressure starts here. Source: U.S. Census Bureau, Building Permits Survey, 2025
The calls we’re making from today’s data
The sharpest 1-yr median swing among tracked communities. Thin samples can exaggerate swings — verify with a comp analysis before treating it as trend.
Sellers: price to the last 60 days of comps, not the peak — well-prepared listings are still commanding strong terms. Buyers: get underwritten now so you can move when the right house hits.
Generated from today’s data by Momentum’s analysis engine and reviewed on a rolling basis by our broker team.
Neighborhoods on the move
| THE LAKESSarasota | $222K | ▲ -10% |
| THE LAKESSarasota | $222K | ▼ 10% |
| AZALEA PARKBartow | $185K | 12 |
| THE LAKESSarasota | $222K | 5 |
| THE LAKESSarasota | $222K | 15 days |
Cities in this ZIP
Most active communities
Put this data to work
The questions people actually ask
Should I buy a house in 32304 right now?
The data says conditions currently favor neither side decisively in 32304 — the Momentum Score reads 63/100 with 2.9 months of supply. For buyers that means preparation over hesitation: well-priced homes still move fast, but there is more room to negotiate than a year ago. The right timing always depends on your rate, your equity, and how long you plan to stay — not just the market.
Is 32304 becoming more affordable?
Yes, modestly — the median sale price in 32304 is $222,000, down 13.7% versus the prior year, while sellers still capture 97.2% of asking price. Softening prices plus normal-length marketing times mean affordability is improving at the margin, though financing costs matter more than list prices for most monthly payments.
Where are prices falling fastest in 32304?
Among tracked communities with enough sales to measure, the sharpest 1-year median declines are THE LAKES (-10%). Note that community-level medians move on small sale counts — a few high- or low-end closings can swing them — so treat these as leads for a comp analysis, not verdicts.
Which 32304 neighborhoods are most competitive?
Measured by speed of sale, the fastest-moving tracked communities right now are THE LAKES (15 days) — homes there go under contract well ahead of the market-wide pace of 28 days.
32304 (Panama City) housing market FAQ
What is the median home price in 32304?
The median sale price in 32304 is currently $222,000, down 13.7% from a year ago, based on MLS sales data updated August 6, 2026.
Is 32304 a buyer's or seller's market right now?
The data currently favors sellers. 32304 scores 63 of 100 on the Momentum Score, with 2.9 months of housing supply. Conditions change; this page updates daily.
How long do homes take to sell in 32304?
The typical home in 32304 goes under contract in about 28 days, per current MLS data.
How many homes are for sale in 32304?
There are approximately 17 active listings in 32304 as of August 6, 2026.
Are home prices in 32304 rising or falling?
Median sale prices are down 13.7% year over year based on a rolling comparison of MLS sales.
Momentum agents use this intelligence every day to price listings and write winning offers across 32304 (Panama City). Talk through what the numbers mean for your move.
Every number on this page is computed directly from licensed Florida MLS feeds, recorded public sales, Zillow Research, and U.S. Census data — nothing is manually adjusted or estimated by hand. Medians use recorded closed sales; supply figures use live listing counts refreshed twice daily; the Momentum Score methodology is summarized .
Analyst oversight: Jon Brooks — Co-Founder, Momentum Realty · CEO, Momentum Research · Housing Market Analyst · methodology reviewed quarterly · Last data refresh: August 6, 2026 at 7:18 PM ET
Statistics on this page are computed automatically from licensed MLS feeds and public data sources (Zillow Research, U.S. Census Bureau) and summarized without manual review. Figures are estimates based on recent recorded activity, are deemed reliable but not guaranteed, and should be verified with a licensed agent before making decisions. This page does not constitute an appraisal or an automated valuation of any specific property. Momentum Realty is licensed in Florida and Georgia. Equal Housing Opportunity.