Panama City
Housing Market
Median sale price $308,900, down 0.7% year over year, with homes going under contract in about 64 days, 519 homes on the market.
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Housing Market Analyst
30% of listed homes are already under contract. Prices are down 0.7% versus the prior year, but sellers are still collecting 96.0% 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 30% 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 Panama City 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 Panama City is hot — and where it isn't
Each dot is a community (127 shown, sized by sales volume rank). Click any dot to open its full neighborhood guide.
The read on Panama City
The median sale price across Panama City currently stands at $308,900, down 0.7% from a year ago. The typical home goes under contract in about 64 days. Sellers are capturing 96.0% of their original asking price on average.
There are 519 active listings on the market, with 187 more already under contract.
Panama City prices sit below the Bay County median by roughly 18%. Zillow's home value index for Bay County stands at $344,901. 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 Panama City is 53 of 100 — balanced market territory. This page recalculates every day as new MLS data lands, so the numbers above reflect the market as of September 15, 2026.
Panama City since 2012 — and where it’s heading
A median home here sold for $171,302 in 2012 and $352,896 over the last recorded year — 106% appreciation across 14 years of recorded sales.
Median sale price · 2012–2026 (18,917 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 Panama City
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.
How it stacks up across Bay County
| Market | Median | Active | Score | |
|---|---|---|---|---|
| Panama City ← this page | $309K | 519 | 53 | |
| Panama City Beach | $430K | 1,412 | 40 | Open → |
| Lynn Haven | $300K | 67 | 49 | Open → |
| Mexico Beach | $275K | 16 | 20 | Open → |
| Youngstown | $299K | 14 | 51 | Open → |
Neighborhoods on the move
| SweetbayPanama City | $549K | ▲ 22% |
| Magnolia HillsPanama City | $419K | ▲ 21% |
| Venetian VillaPanama City | $270K | ▲ 19% |
| Bridge HarborPanama City | $380K | ▲ 18% |
| Highland CityPanama City | $280K | ▲ 17% |
| CovePanama City | $322K | ▼ 20% |
| LibertyPanama City | $280K | ▼ 19% |
| Sunrise At East BayPanama City | $282K | ▼ 16% |
| Hawks LandingPanama City | $539K | ▼ 14% |
| CallawayPanama City | $210K | ▼ 12% |
| LibertyPanama City | $280K | 32 |
| Titus ParkPanama City | $350K | 32 |
| ParkbrookPanama City | $297K | 31 |
| Hodges Bayou PlantationPanama City | $350K | 28 |
| SweetbayPanama City | $549K | 23 |
| SudduthsPanama City | $270K | 13 days |
| SpringfieldPanama City | $194K | 14 days |
| Magnolia HillsPanama City | $419K | 22 days |
| Hawks LandingPanama City | $539K | 25 days |
| Sunrise At East BayPanama City | $282K | 30 days |
Panama City ZIP codes
Most active communities
More on Panama City
Put this data to work
The questions people actually ask
Should I buy a house in Panama City right now?
The data says conditions currently favor neither side decisively in Panama City — the Momentum Score reads 53/100. 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 Panama City becoming more affordable?
Yes, modestly — the median sale price in Panama City is $308,900, down 0.7% versus the prior year, while sellers still capture 96.0% 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 Panama City?
Among tracked communities with enough sales to measure, the sharpest 1-year median declines are Cove (-20%); Liberty (-19%); Sunrise At East Bay (-16%). 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 Panama City neighborhoods are most competitive?
Measured by speed of sale, the fastest-moving tracked communities right now are Sudduths (13 days); Springfield (14 days); Magnolia Hills (22 days) — homes there go under contract well ahead of the market-wide pace of 64 days.
How does Panama City compare to the rest of Bay County?
Panama City's median of $308,900 runs 18% below the county-wide median of $374,676, and homes here take 64 days to go under contract versus 71 county-wide.
Panama City housing market FAQ
How is the housing market in Panama City right now?
As of September 15, 2026, the Panama City housing market is roughly balanced: the median sale price is $308,900 (down 0.7% year over year), 519 homes are for sale, and the typical home goes under contract in about 64 days.
How much is a house in Panama City?
The median home sold for $308,900 in Panama City over the last 12 months; asking prices on the 519 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 Panama City?
By the numbers, sellers in Panama City are getting 96.0% of asking price and going under contract in about 64 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 Panama City housing market forecast?
Momentum Realty publishes the recorded trend, not a prediction: Panama City median sale prices are down 0.7% year over year, and 30% 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 Panama City?
The median sale price in Panama City is currently $308,900, down 0.7% from a year ago, based on MLS sales data updated September 15, 2026.
Is Panama City a buyer's or seller's market right now?
The data currently is roughly balanced. Panama City scores 53 of 100 on the Momentum Score. Conditions change; this page updates daily.
How long do homes take to sell in Panama City?
The typical home in Panama City goes under contract in about 64 days, per current MLS data.
How many homes are for sale in Panama City?
There are approximately 519 active listings in Panama City as of September 15, 2026.
Are home prices in Panama City rising or falling?
Median sale prices are down 0.7% 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 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: September 15, 2026 at 7:33 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.