The Commodore
Homes for Sale in Panama City Beach, FL
All 726 homes for sale in Panama City Beach, FL · median $369,000 · 686 condos for sale in Panama City Beach · 364 homes for sale in 32408 · Bay County homes for sale
True comps, carrying-cost math, and listings before the portals.
Photo via CPAR MLS
As of November 2026, The Commodore in Panama City Beach, FL has 2 homes for sale. Over the 12 months ending 2026-11-11, 3 recorded sales closed at a median of $490,000, a median 71 days on market, sellers accepting 88% of original asking. At the median price and Bay County's FY2025-26 rate of 12.28 mills, annual property tax runs about $6,020 ($5,530 with the full homestead exemption).
Last 30 days in The Commodore: 1 new listing (median asking $500,000). As of November 11, 2026, Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate.
The Commodore is a single-vintage building — every unit dates to 1985 — so what separates one listing from the next is almost entirely condition and how recently the interior has been updated. At a median of just over 1,000 square feet, these are compact, efficient floor plans, and pricing reflects renovation work more than location or view differences within the property.
With a median days-on-market around 85, this is not a building where units move quickly, and the market heat score in the low 30s confirms a slower, more negotiated pace. That gives buyers real room to inspect and price-shop, while sellers need to price to condition rather than to the neighbor's ask and expect the process to take time.
Figures in this note are as of July 28, 2026. The live market numbers elsewhere on this page update nightly and are newer.
The Commodore right now
🟢 Buyer-leaning market. 8.0 months of supply and 0% of the inventory already under contract give buyers above-average negotiating leverage.Why it matters: months of supply is how long today's inventory would last at today's sales pace; under-contract share is the portion of homes for sale that already have a buyer.Momentum Research analysis of CPAR MLS records, as of November 11, 2026. Confidence: Low (2 active and pending listings, 3 closed sales in 12 months).
Jump to: Price history & scorecard · Homes for sale · Schools · FAQ
· Updated November 12, 2026 · Live data: CPAR MLS, refreshed twice daily · MLS facts carry their source; interpretation lines are Momentum Research · Data sources & freshness
The 60-Second Overview
The Commodore market snapshot (as of November 11, 2026): the median sale price is about $490K, a median 71 days on market for closed sales, and 8.0 months of supply, a buyer-leaning market.
In ZIP 32408 (Panama City Beach), 205 homes closed in the last 12 months at a median of $385K, with a median 83 days on market. Right now 389 active and 47 pending listings put supply at about 22.8 months — a soft market. See the live ZIP 32408 housing market and the Bay County market.
CPAR sales records identify 18 homes in The Commodore that have changed hands since 2004, built between 1985 and 1985 (median 1985), with a median living area of about 1,056 sq ft and a typical 2-bedroom, 2-bath layout; 100% are condominiums. Source: CPAR closed-sale history compiled by Momentum Research; counts reflect homes with a recorded MLS sale, not every home in the community.
Built out in a single year — 1985 — The Commodore is a fixed inventory of 134 homes in Panama City Beach, so supply here doesn't grow; it only turns over as owners sell.
Who The Commodore is best for.
Best for
- Buyers targeting a Panama City Beach condo purchase in the mid-$500s who prioritize location over building amenities
- Investment-minded buyers comfortable with a building where the large majority of units are already non-homestead
- Buyers willing to fund updates in a 1985-built unit in exchange for entry at established pricing
Probably not for
- Buyers who want move-in-ready with zero renovation risk across the board
- Sellers who need a fast turnaround, given a median days-on-market near 85
- Buyers specifically shopping for on-site community amenities, since none are identified from current listings
Homes For Sale Right Now in The Commodore
Live MLS inventory for The Commodore. Every active listing, what is under contract right now, and the last 12 months of closed sales, refreshed twice a day. Closed comps beat an algorithm's guess every time.
Active and pending The Commodore listings as of 2026-11-11, priced high to low. Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate. Tap any home to ask about it.
The The Commodore buying strategy.
If we were buying in The Commodore 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.
Use your leverage. With inventory sitting, there is room to negotiate on anything dated or overpriced and to ask for repairs or a rate buydown.
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 The Commodore.
One building, one story
The homestead share here sits at just 6.7%, a strong signal that most owners are not living here as a primary residence. That points to a building used predominantly for investment or secondary-home purposes, which shapes everything from HOA rhythms to how often units cycle onto the market.
Price has moved with real conviction over time — up 214% since 2012 and 8.4% in the past year alone — even as current velocity has slowed. That combination, strong long-run appreciation against a cooler present-day heat score, suggests a property that has already re-rated meaningfully and is now trading at a more measured, condition-sensitive pace rather than a rapid one.
The location and the amenities are priced into every listing in The Commodore. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
In a single-vintage building where every unit shares the same 1985 bones, the deal is won or lost on what's been updated and what hasn't. We track recent closings inside The Commodore specifically, so you're pricing against real comparable sales and real renovation scope, not a building-wide average that hides which units are worth the ask.
The Commodore in 15 seconds.
Tools for a The Commodore 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 The Commodore sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in The Commodore, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your The Commodore home worth?
Get a no-obligation home value based on real comparable sales in The Commodore, 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 Beach →
Recently off market in The Commodore
Homes in The Commodore 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. 3 on record.
- 4715 Thomas Drive 302B · off market
- 4715 Thomas Drive 310A · off market
- 4715 Thomas Drive 808C · off market
| Location | Panama City Beach, Bay County, FL · ZIP 32408 |
|---|---|
| Sale prices, last 12 months | $490,000 median across 3 closed sales |
| Days on market (closed sales) | 71 median |
| For sale right now | 2 active, 0 pending · median asking $445,000 · 8.0 months of supply |
Data as of November 11, 2026. Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate. Market figures describe homes, not residents. Cite as: Momentum Realty, “The Commodore key facts,” movewithmomentum.com/neighborhoods/the-commodore--bay, data as of November 11, 2026.
Housing distress & ownership in The Commodore, Panama City Beach
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.
Every Home for Sale in The Commodore Bay Right Now (2)
All 2 active and pending The Commodore Bay listings with a detail page, newest first, refreshed twice a day from the MLS.
- 4715 Thomas Drive 303C, Panama City, Fl 32408 · $500,000 · 2 bd / 2 ba · listed Nov 10, 2026 · listed by Century 21 BE3
- 4715 Thomas 309 B Drive 309B, Panama City Beach, Fl 32408 · $390,000 · 1 bd / 2 ba · listed Aug 13, 2026 · listed by Sunshine Realty
More Panama City Beach home searches
- All homes for sale in Panama City Beach, FL
- Homes for sale in Bay County, FL
- Homes under $300K in Panama City Beach
- Panama City Beach home values: what is my house worth?
- ZIP 32408 housing scorecard
- 5 coming-soon communities in Bay County
Panama City Beach guides & data
- Market data
- Best neighborhoods (ranked by data)
- Flood zones
- Home insurance cost
- New construction
- ZIP codes
Florida buyer guides
- Florida home insurance rates by county
- Florida property tax by county
- Florida property tax calculator
- What flood zone X means
- The 4-point inspection, explained
- Florida flood insurance calculator
- Florida housing market map
- Interactive housing market map (county, ZIP and community)
- Save Our Homes tax estimator
- How to stop a foreclosure in Florida
- Florida documentary stamp tax, explained
- Cheapest places to live in Florida
Real estate agent in Panama City Beach? Join Momentum in Panama City Beach: 100% commission, one $12K cap.
10% of homes for sale in ZIP 32408 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 (2026-11-12).
What it really costs to own in The Commodore
The parts of the monthly number a mortgage calculator leaves out, from the tax roll, the MLS, Citizens and FEMA. Property facts only.
| HOA dues | Median $949/month across 3 MLS listings (most billed quarterly; 2026-11-12). Dues cover what the documents say they cover; ask for the budget and reserve study. |
|---|---|
| Home and flood insurance | The average Citizens Property Insurance premium in Bay County is $1,928/yr (1,264 policies, Citizens detail by county, April 2026); private-market quotes depend on roof age, wind mitigation and construction. |
| Roof and age | Median build year 1985 across 4 listings. An original roof here would be about 41 years old; under Florida's 2022 reform (SB 2-D) carriers may require an inspection past 15 years, so budget for a roof report, and for replacement where it fails. |
Email me new listings in The Commodore
One e-mail a day, only when a home lists here, with price, beds, baths and a link to every listing. Straight from the MLS feed; no account needed.
Ask an agent about The Commodore
Have a question about the homes, fees, rules or commute here? A Momentum agent who works The Commodore will answer, and the answer is published on this page for the next buyer.
Frequently Asked Questions
What is the median home price in The Commodore?
How long do homes in The Commodore take to sell?
Is The Commodore a buyer's or seller's market right now?
Who is the best real estate agent for The Commodore?
How do I find a top Panama City Beach real estate agent who knows The Commodore?
Can Momentum Realty connect me with an agent for The Commodore?
Where is The Commodore, and what county is it in?
Should you buy in The Commodore?
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: November 11, 2026) |
| Community market stats | CPAR MLS closed sales, 12-month windows ending November 11, 2026 |
| Under-contract shares | CPAR MLS records, as of 2026-11-11 |
| Historical depth | Closed-sale records back to 2026 (3 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. A Momentum agent can 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 The Commodore fits the bigger picture — live prices, inventory, and Momentum Scores: