Shadow Bay Unt
Homes for Sale in Panama City, FL

Shadow Bay Unt 3 & sits within Panama City's Bay County market, where recent activity has been limited enough that each closing carries real weight in the numbers. Current MLS listings show no formal community amenities, so buyers are evaluating individual homes and lots rather than a shared amenity package.

CPAR sales records identify 5 homes in Shadow Bay Unt that have changed hands since 2026, built between 1988 and 2026 (median 1991), with a median living area of about 1,465 sq ft and a typical 3-bedroom, 2-bath layout. Source: CPAR closed-sale history compiled by Momentum Research; counts reflect homes with a recorded MLS sale, not every home in the community.

County records show 4 qualified sales in Shadow Bay Unt across 2025–2025, median $266,000 — the last recorded sale per parcel on the Florida DOR 2025 assessment roll, independent of the MLS.

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.

Shadow Bay Unt is too small for its own price trend, so here is the market around it.

In ZIP 32404, 428 homes are on the market and 30% are under contract — a fast-moving corner of Panama City.

Across Bay County, 2,515 homes are active and 528 pending (17% under contract).

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.

ZIP and county figures describe the wider market, not Shadow Bay Unt specifically. Momentum Research analysis of MLS records.

Four closings is not enough volume to establish a stable price trend on its own. The 43.8% year-over-year change reflects wherever those few sales landed relative to the prior period — it can signal genuine appreciation, a shift in the mix of homes that sold, or simply a small-sample swing. Treat it as a flag to look closer at the individual properties involved, not as a rate you can extrapolate forward.

The median 54.5-day time on market suggests homes here are not moving instantly, but they are not sitting stale either — that middle ground is consistent with a heat score of 50, which reads as neither a seller's nor a buyer's market. Because no community amenities are identified in current listings, valuation here will lean heavily on the individual home — lot size, condition, updates — rather than on a shared feature set.

In a market this thin on closings, the comps that exist matter more than usual, and so does knowing which of the four recent sales are truly comparable to the home you're pricing or considering. We track this activity as it happens rather than relying on a stale trailing average, and we can walk you through what's actually behind the year-over-year number before you make a decision based on it.

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