32404 (Panama City)
Housing Market & Home Values
Median sale price $289,900, down 3.3% year over year, with homes going under contract in about 58 days, 391 homes on the market.
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Housing Market Analyst
31% of listed homes are already under contract. Prices are down 3.3% versus the prior year, but sellers are still collecting 96.5% 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 neither side decisively.
- Inventory — tightening over the tracked window; watch whether that holds through the season.
- Negotiating power — buyers gain ground as 31% 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 32404 data, not a prediction or guarantee. Markets move; talk to an agent before acting on any single reading.
One inventory number hides four different markets
Months of supply = active listings ÷ monthly sales pace, bucketing communities by their recent median. 3–6 months is the balanced band.
Where 32404 is hot — and where it isn't
Each dot is a community (72 shown, sized by sales volume rank). Click any dot to open its full neighborhood guide.
The read on 32404 (Panama City)
The median sale price across 32404 currently stands at $289,900, down 3.3% from a year ago. The typical home goes under contract in about 58 days. Sellers are capturing 96.5% of their original asking price on average.
There are 391 active listings on the market, with 146 more already under contract.
Zillow's home value index for Bay County stands at $344,049. 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 32404 is 55 of 100 — balanced market territory. This page recalculates every day as new MLS data lands, so the numbers above reflect the market as of October 6, 2026.
32404 since 2012 — and where it’s heading
A median home here sold for $129,769 in 2012 and $316,879 over the last recorded year — 144% appreciation across 14 years of recorded sales.
Median sale price · 2012–2026 (13,322 recorded sales)
Days on market by year
Home value trend · Bay County (Zillow ZHVI)
For-sale inventory · county (Zillow)
Daily active vs pending · Bay County (MLS)
Median price · daily recalculation
What’s driving 32404
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.
Both sides have a case: buyers should negotiate on days-on-market, sellers should lean on the under-contract rate. Preparation, not the market, decides who wins a balanced tape.
Generated from today’s data by Momentum’s analysis engine and reviewed on a rolling basis by our broker team.
Nearby ZIP codes in Bay
| Market | Median | Active | Score | |
|---|---|---|---|---|
| 32404 ← this page | $290K | 391 | 55 | |
| 32408 | $400K | 1,195 | 41 | Open → |
| 32407 | $398K | 1,101 | 36 | Open → |
| 32413 | $445K | 1,074 | 38 | Open → |
| 32405 | $280K | 202 | 55 | Open → |
| 32013 | $425K | 171 | 33 | Open → |
Neighborhoods on the move
| Magnolia HillsPanama City | $419K | ▲ 21% |
| Venetian VillaPanama City | $270K | ▲ 19% |
| Bridge HarborPanama City | $380K | ▲ 17% |
| East Bay ParkPanama City | $346K | ▲ 16% |
| SweetbayPanama City | $535K | ▲ 12% |
| LibertyPanama City | $280K | ▼ 23% |
| Bay Point Studio VillasPanama City Beach | $191K | ▼ 20% |
| Sunrise At East BayPanama City | $278K | ▼ 17% |
| CallawayPanama City | $210K | ▼ 12% |
| Lynn HavenLynn Haven | $300K | ▼ 8% |
| Titus ParkPanama City | $350K | 32 |
| ParkbrookPanama City | $303K | 31 |
| Hodges Bayou PlantationPanama City | $350K | 29 |
| LibertyPanama City | $280K | 28 |
| Lynn HavenLynn Haven | $300K | 24 |
| SudduthsPanama City | $270K | 13 days |
| SpringfieldPanama City | $194K | 16 days |
| Magnolia HillsPanama City | $419K | 22 days |
| Sunrise At East BayPanama City | $278K | 30 days |
| Magnolia RidgePanama City | $285K | 34 days |
Cities in this ZIP
Most active communities
Put this data to work
The questions people actually ask
Should I buy a house in 32404 right now?
The data says conditions currently favor neither side decisively in 32404 — the Momentum Score reads 55/100. 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 32404 becoming more affordable?
Yes, modestly — the median sale price in 32404 is $289,900, down 3.3% versus the prior year, while sellers still capture 96.5% 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 32404?
Among tracked communities with enough sales to measure, the sharpest 1-year median declines are Liberty (-23%); Bay Point Studio Villas (-20%); Sunrise At East Bay (-17%). 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 32404 neighborhoods are most competitive?
Measured by speed of sale, the fastest-moving tracked communities right now are Sudduths (13 days); Springfield (16 days); Magnolia Hills (22 days) — homes there go under contract well ahead of the market-wide pace of 58 days.
32404 (Panama City) housing market FAQ
How is the housing market in 32404 right now?
As of October 6, 2026, the 32404 housing market is roughly balanced: the median sale price is $289,900 (down 3.3% year over year), 391 homes are for sale, and the typical home goes under contract in about 58 days.
How much is a house in 32404?
The median home sold for $289,900 in 32404 over the last 12 months; asking prices on the 391 current listings run from well below to well above that, and the community pages linked below show what each neighborhood actually sells for.
Is it a good time to sell a house in 32404?
By the numbers, sellers in 32404 are getting 96.5% of asking price and going under contract in about 58 days. Whether it is a good time for you depends on what you paid and where you are going next, which is a conversation with an agent, not a chart.
What is the 32404 housing market forecast?
Momentum Realty publishes the recorded trend, not a prediction: 32404 median sale prices are down 3.3% year over year, and 31% of listings are under contract. The charts on this page update with every MLS refresh, so the direction shows up here before any forecast catches it.
What is the median home price in 32404?
The median sale price in 32404 is currently $289,900, down 3.3% from a year ago, based on MLS sales data updated October 6, 2026.
Is 32404 a buyer's or seller's market right now?
The data currently is roughly balanced. 32404 scores 55 of 100 on the Momentum Score. Conditions change; this page updates daily.
How long do homes take to sell in 32404?
The typical home in 32404 goes under contract in about 58 days, per current MLS data.
How many homes are for sale in 32404?
There are approximately 391 active listings in 32404 as of October 6, 2026.
Are home prices in 32404 rising or falling?
Median sale prices are down 3.3% 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 32404 (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: October 6, 2026 at 7:22 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.