Data Analysis

Redfin data for the three months ending June 2026 shows Panama City home sales up 18.6% year over year, among the largest volume gains in this release, with the median sale price nearly flat at $306,363.

Homes in the city sold in a median 65 days, three days faster than a year ago, and 14.2% closed above list price. The sale-to-list ratio slipped 0.3 points to 96.8%.

The median sale price in the city of Panama City was $306,363 over the rolling three months ending June 2026, up 0.4% year over year, according to Redfin. Redfin counted 217 homes sold in the city in that window, up 18.6% from a year earlier, one of the largest sales gains in this release. Median days on market was 65, 3 days faster year over year, per Redfin. The average sale-to-list ratio was 96.8%, down 0.3 points, and 14.2% of homes sold above list price, Redfin reports. Redfin's Compete Score for the city is 31, with homes selling in about 70 days at roughly 3% below list.

Geography first. These numbers cover Panama City proper, the geography Redfin publishes at this URL. Panama City Beach is a separate municipality and is excluded, as are unincorporated parts of Bay County. The 217 closings in Redfin's three-month window make this one of the smaller samples in this release, so single-month swings deserve caution.

What drove the 18.6 percent jump in Panama City home sales?

The Redfin data cannot say why more homes sold; it can say how the market absorbed them. An 18.6% year-over-year volume jump landing alongside a 0.4% median price change means the additional buyers found homes without bidding prices upward. In market-mechanics terms, supply met the extra demand. Had inventory been scarce, a demand surge of that size would show up in the price and above-list columns, and it does not.

The sale-to-list ratio actually softened, slipping 0.3 points to 96.8% per Redfin, one of the few sale-to-list declines in this release. Sellers gave up marginally more in negotiation even as far more of them closed. That pairing is what a volume-driven market looks like: transactions clearing at market-honest prices, with neither side able to press an advantage.

Are Panama City prices rising or flat?

Flat is the honest answer. Redfin's $306,363 median for the three months ending June 2026 sits 0.4% above the same window a year earlier, a change small enough to be indistinguishable from the mix of homes that happened to sell in a 217-transaction sample. Panama City enters the second half of 2026 with one of the lowest medians in this release, below Jacksonville's $309,831 and above only Marion County's $282,849.

Underneath the flat median, the negotiation data splits. On one side, 14.2% of city sales closed above list price per Redfin, roughly one in seven, so competitive pockets exist. On the other side, the average sale ran about 3% below list per Redfin, and the sale-to-list ratio drifted down over the year. A flat median with modest above-list activity and modest discounting describes a market in balance rather than one trending either direction.

How does Panama City compare on speed and pricing power?

Redfin's median market time of 65 days puts Panama City in the middle of our Florida coverage, slower than Jacksonville's 56 days and the 59-day readings in Volusia County and Pensacola, and well ahead of Destin's 98, all per the same Redfin June 2026 windows. The 3-day year-over-year improvement is real but small.

Redfin's Compete Score of 31 places the city on the lower half of Redfin's 0 to 100 scale, above Destin's 14 and below Pensacola's 35 and Jacksonville's 47. Per Redfin, the typical Panama City home sells in about 70 days at about 3% below list. The practical translation: buyers here can negotiate, sellers should expect roughly two months of marketing time, and neither expectation changed much over the past year.

What the June 2026 figures mean heading into fall

The number worth carrying forward is the 18.6% sales gain. Rolling three-month windows smooth noise, so a jump that size in a 217-sale market reflects a genuine pickup in closings across the spring and early summer, per Redfin's methodology. If the gain persists in the July and August windows, the question becomes whether prices stay flat as volume grows or the extra absorption eventually firms the median, the same sequence visible in larger markets.

For now the data supports plain expectations on both sides. Sellers pricing at the market are closing in about two months at slightly under asking, per Redfin's 65-day median and 96.8% ratio. Buyers retain around 3% of typical negotiating room and face genuine competition on roughly one listing in seven, per the 14.2% above-list share.

Momentum updates this market with each Redfin release on our Panama City data page, and reporting on all the Florida markets we track is collected at Florida housing news. The July window arrives next month.

Limitations

All statistics are published by Redfin and reflect the MLS and public-record coverage Redfin maintains; some transactions may not be captured. Figures are rolling three-month values for the period ending June 2026, compared with the same three months one year earlier. The geography is the city of Panama City only, excluding Panama City Beach and the rest of Bay County, and is narrower than the hub name may suggest. The 217-sale sample makes medians and shares more volatile than in larger markets. Redfin revises published figures as late-reported sales arrive. The Compete Score is Redfin's own proprietary measure, and its 70-day speed estimate is calculated separately from the 65-day median days on market cited above. Redfin did not publish a year-over-year change for the above-list share in this window.

Sources

• Redfin, Panama City, FL Housing Market: https://www.redfin.com/city/14153/FL/Panama-City/housing-market
• Redfin Data Center: https://www.redfin.com/news/data-center/

Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.