Forest Park Estates
Homes for Sale in Panama City, FL

Forest Park Estates market snapshot (as of September 12, 2026): the median sale price is about $375K, and a median 2 days on market for closed sales. The trailing-12-month median is up 0% from the prior 12 months, computed from record-level CPAR MLS closed sales (3 closings in the current window).

In ZIP 32405 (Panama City), 693 homes closed in the last 12 months at a median of $280K, down 4.1% year over year, with a median 55 days on market. Right now 213 active and 82 pending listings — a balanced market. See the live ZIP 32405 housing market and the Bay County market.

CPAR sales records identify 5 homes in Forest Park Estates that have changed hands since 2022, built between 1979 and 1985 (median 1983), with a median living area of about 2,056 sq ft and a typical 3-bedroom, 2-bath layout; 80% are single-family homes. Source: CPAR closed-sale history compiled by Momentum Research; counts reflect homes with a recorded MLS sale, not every home in the community.

Forest Park Estates is a low-turnover community of larger, older homes in Panama City, where a high owner-occupancy share (76.4%) points to longer hold periods and less speculative churn than markets with more investor or rental activity.

The defining structural fact about Forest Park Estates is its size: 71 homes total, with a homestead share of 76.4%. That combination usually means fewer listings hit the market in any given stretch, and when they do, pricing can swing based on the condition and size of whatever happens to be available rather than a broad, liquid trend. The median price of $419,000 should be read as a snapshot of a thin sample, not a stable band.

The build era — mostly early 1980s, with some homes built as late as 2009 — means buyers will find a mix of original systems and renovated interiors under one roof type. That spread in condition, combined with the larger median square footage, is likely doing more to set price than any amenity package; the current MLS data shows no identified community amenities, so value here is coming from the structure and the lot, not from a clubhouse or shared facility.

In a community this small — 71 homes, a 4-listing closings window, and days-on-market near 3.5 — the difference between a well-priced offer and an overreach comes down to reading a thin data set correctly. We track what is actually closing here in real time so you are not pricing off a stale or overly broad comp.

Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.