Callaway Southeast
Homes for Sale in Panama City, FL
All 257 homes for sale in Panama City, FL · median $349,000 · 302 homes for sale in 32404 · Bay County homes for sale
True comps, carrying-cost math, and listings before the portals.
Photo via CPAR MLS
Over the 12 months ending 2026-09-20, 3 recorded sales closed at a median of $246,000, a median 15 days on market, sellers accepting 96% of original asking. At the median price and Bay County's FY2025-26 rate of 12.28 mills, annual property tax runs about $3,020 ($2,540 with the full homestead exemption).
Callaway Southeast prices around a median of $246,000, and the housing stock itself explains why that number sits where it does. With a median year built of 1985 but a range stretching from 1914 to 2024, this is a mixed-vintage pocket — some homes have been standing for over a century, others are recent builds — which means condition and updates, not just square footage, drive where any single listing lands relative to that median.
At a median 15 days on market, homes here are moving briskly. For sellers, that points to pricing to the current market rather than testing it. For buyers, it means having financing lined up and being ready to act — this is not a market where you get weeks to deliberate on a well-priced, well-maintained listing.
The 60-Second Overview
Callaway Southeast market snapshot (as of September 20, 2026): the median sale price is about $246K, and a median 15 days on market for closed sales.
In ZIP 32404 (Panama City), 1,060 homes closed in the last 12 months at a median of $290K, down 3.3% year over year, with a median 58 days on market. Right now 391 active and 146 pending listings — a balanced market. See the live ZIP 32404 housing market and the Bay County market.
Callaway Southeast in Bay County is a 191-home slice of Panama City's Callaway area with a wide build-year spread and a median living area of 1,875 square feet — enough range that shoppers should expect to compare condition and age closely rather than assume uniformity from one block to the next.
Who Callaway Southeast is best for.
Best for
- Buyers seeking a moderately priced home in Bay County without needing new construction
- Buyers comfortable evaluating a mix of older and newer housing stock on a case-by-case basis
- Buyers who want a primary residence in an area where owner-occupancy runs above half
Probably not for
- Buyers who want a community with organized amenities or an active HOA amenity package
- Buyers unwilling to budget for age-related repairs on an older home built well before 1985
- Buyers who need a slow, unhurried search — the 15-day median pace calls for readiness to act
Price History: What Homes Here Have Actually Sold For
Median sale price over the trailing 12 months ending September 20 of each year, from record-level CPAR MLS closed sales. Same methodology as every appreciation figure on this page: the 2026 point ($246K) IS the median in the snapshot above.
Windows contain 0 to 3 sales each (3 in the current window); every figure carries its sample size, and thin markets swing on single closings. Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
The real cost & risk here
Before the list price, the Florida math the portals skip. These are Bay County typicals — your exact home, flood zone, and insurance quote will vary, so verify each before you offer.
Check it for your address: look up your flood zone (FEMA) · insurance by county · true-cost calculator · Bay County scorecard.
County typicals from Momentum’s Florida housing data (Zillow & Realtor.com aggregates, Census, FRED), updated monthly; insurance modeled. Flood zone is property-specific — always confirm via FEMA.
30% of homes for sale in ZIP 32404 are already under contract (under contract ÷ under contract + active listings) — a read on how much of the available inventory buyers have already claimed. Source: MLS data (2026-09-20).
Callaway Southeast Market Scorecard
Callaway Southeast is currently a balanced market..
Go deeper: ZIP market scorecard · county scorecard · true cost calculator · affordability calculator.
Live data: CPAR MLS, refreshed twice daily. Market metrics only; these describe homes for sale and recent sales, not residents.
Housing distress & ownership in Callaway Southeast, Panama City
Who owns here, how much is not owner-occupied, and how much for-sale inventory is under distress.
Source: Momentum Realty Research. Ownership & parcels from the FL DOR 2025 tax roll; distress from MLS active-listing status/remarks; price from MLS closed sales. Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
The Callaway Southeast buying strategy.
If we were buying in Callaway Southeast today, this is the order of operations we would run for our clients.
Underwrite the condition first. Price the roof, HVAC, and systems honestly before judging any list price; condition swings value here more than square footage alone.
Match the home to real comps. Recent sales of similar condition and lot, not the asking price, tell you what a home is worth.
Move deliberately, not desperately. Neither side has a decisive edge, so a well-prepared, fairly-priced offer wins without overpaying.
Line up financing and inspection early. A pre-approval and an inspection plan let you act fast and negotiate from evidence.
Keep an agent in your corner. The listing agent works for the seller; we represent you and prepare a hand-built valuation before any offer in Callaway Southeast.
Age, size, and how the numbers fit together
The 1914–2024 build range is the defining fact of this market. A median year built of 1985 puts the typical home at several decades old, but the tail on either end — early-1900s construction and homes finished as recently as 2024 — means buyers touring here will see genuinely different eras of construction, wiring, roofing, and layout standards within the same few blocks. That spread is why a qualitative read on condition matters more than the median price alone.
At 1,875 median square feet, homes here run to a workable middle size — not a market defined by very small starter units or oversized construction. Just over half of homes (51.9%) carry a homestead exemption, indicating a majority are owner-occupied primary residences rather than investment or seasonal holdings, which is worth noting for anyone assessing how a neighborhood functions day to day. No community amenities are identified in current MLS listings, so this reads as a standard residential area without an HOA-run amenity package — verify any covenants or associations directly rather than assuming there are none.
The location and the amenities are priced into every listing in Callaway Southeast. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
With homes spanning over a century of construction and a median 15-day market pace, the difference between a good deal and a costly mistake in Callaway Southeast usually comes down to knowing a specific home's age-related risk points before you write an offer. We track what is actually listing and closing here, not a generic Panama City average, so pricing and timing conversations are grounded in this pocket's real numbers.
Callaway Southeast in 15 seconds.
HOA, CDD & Fees
- HOA status not on record. Verify any dues before you offer
- Any club/amenity membership is billed separately
Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.
Tools for a Callaway Southeast buy.
Free calculators to pressure-test the real cost before you tour.
Selling here is won on condition and pricing to real comps, not an automated estimate. The right number comes from closed Callaway Southeast sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Callaway Southeast, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Callaway Southeast home worth?
Get a no-obligation home value based on real comparable sales in Callaway Southeast, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
See all homes for sale in Panama City →
Recently off market in Callaway Southeast
Homes in Callaway Southeast that recently left the market. Each address opens its public-record profile: county-recorded value, property taxes, the last recorded sale, community sales history, and what is for sale nearby now. 1 on record.
- 718 Clarence Drive · off market
Frequently Asked Questions
What is the median home price in Callaway Southeast?
How long do homes in Callaway Southeast take to sell?
Who is the best real estate agent for Callaway Southeast?
How do I find a top Panama City real estate agent who knows Callaway Southeast?
Can Momentum Realty connect me with an agent for Callaway Southeast?
Where is Callaway Southeast, and what county is it in?
Should you buy in Callaway Southeast?
An honest fit check. We will tell you when it is not your community.
Data sources & freshness
| Live listings | CPAR MLS, refreshed twice daily (last: October 1, 2026) |
| Community market stats | CPAR MLS closed sales, 12-month windows ending September 20, 2026 |
| Under-contract shares | CPAR MLS records, as of 2026-09-20 |
| Historical depth | Closed-sale records back to 2013 (14 transactions analyzed) |
Verify the primary sources yourself: Florida DOR · U.S. Census · FEMA flood maps · Citizens Property Insurance.
Momentum Research figures are our own analysis of CPAR MLS records; MLS data is deemed reliable but not guaranteed. Methodology: how Momentum market scores are computed. Market metrics describe homes for sale and recent sales, not residents.
Own a home here?
You just read the data. Now see what your home is worth.
The numbers on this page move markets in the aggregate. The number that matters to you is what a buyer pays for your address. Momentum sells for 1.25% above the CPAR MLS member average and 8 days faster, and we’ll price yours against live local comps.
Looking to buy here? Search homes for sale →
What’s your home worth in your area?
A real valuation with real comps from a local listing agent, not an instant algorithm. Response within one business day.
See how Callaway Southeast fits the bigger picture — live prices, inventory, and Momentum Scores:
Nearby Communities
Explore more neighborhoods near Callaway Southeast with Momentum Realty’s local guides.