Callaway Southeast
Homes for Sale in Panama City, FL

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.

Pre-construction details are compiled from public records, builder announcements and builder listings, and are subject to change without notice; figures are deemed reliable but not guaranteed. Momentum Research figures are our own analysis. This page describes homes, pricing and community attributes, not residents.

Callaway Southeast is too small for its own price trend, so here is the market around it.

In ZIP 32404, 408 homes are on the market and 21% are under contract — a steady corner of Panama City.

Across Bay County, 2,406 homes are active and 434 pending (15% under contract).

In ZIP 32404 (Panama City), 223 homes closed in the last 12 months at a median of $275K, with a median 90 days on market. Right now 203 active and 64 pending listings put supply at about 10.9 months — a soft market. See the live ZIP 32404 housing market and the Bay County market.

ZIP and county figures describe the wider market, not Callaway Southeast specifically. Momentum Research analysis of MLS records.

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.

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.