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Featured local agent — Panama City, FL
Sarah Mitchell
Compass Real Estate · Panama City, FL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Panama City, FL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$305,000median sale price
How is the Panama City, FL housing market right now?
The median home sale price in Panama City, FL is $305,000, down 4.7% year-over-year. Homes sell in an average of 57 days with 323 active listings. The market is currently a leaning buyer's. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Panama City a buyer's or seller's market?
Panama City, FL is currently a leaning buyer's, based on 4.3 months of supply and homes selling in about 57 days. How we determine this →
Homes sold
75
Last 12 weeks
Days on market
57
Average pace
Active listings
323
4.3 months supply
Sale-to-list
96.8%
Below asking
What does the Panama City housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $305,000 |
| Median list price | $290,000 |
| Year-over-year price change | -4.7% |
| Average days on market | 57 days |
| Active inventory | 323 listings |
| Months of supply | 4.3 months |
| Sale-to-list price ratio | 96.8% |
| Median price per sq ft | $197/sq ft |
| Homes sold (latest month) | 75 |
| New listings (latest month) | 84 |
| Listings with a price cut | 34.7% |
| Market condition | Leaning buyer's |
Source: Redfin · Updated monthly
How much do homes cost in Panama City by property type?
How the Panama City, FL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $305,000 | $196/sq ft | 68 | 55 days |
| Condo / Co-op | $187,500 | $205/sq ft | 4 | 134 days |
| Townhouse | $370,000 | $219/sq ft | 1 | 45 days |
Source: Redfin · Updated monthly
The Panama City housing market is currently classified as a leaning buyer's with a median sale price of $305,000. Prices have fallen 4.7% compared to last year, with homes spending an average of 57 days on market, indicating 4.3 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.7x provides context for how home values compare to local earning capacity.
Market trends
Homes for sale in Panama City
There are currently 323 homes listed for sale in Panama City, Florida. The median listing price is $290K.
Active listings
323
Homes on market
Median list price
$290K
Avg. days on market
57
Days until sale
New this week
84
Newly listed
Who lives in Panama City?
Population
34,211
Median income
$61,125/yr
Median age
38.6 years
Owner-occupied
55.1%
College grads
25.5%
Avg commute
20.9 min
Source: U.S. Census Bureau ACS
What are homes worth in Panama City?
Zillow home value
$286,664
Zillow rent index
$1,726/mo
Price-to-rent ratio
13.8x
Price-to-income
4.7x
Source: Zillow Research
What is it like to live in Panama City?
Panama City is a community of approximately 34K residents with a median age of 38.6 years.The median household income is $61,125, which represents a working-class community with solid middle-income opportunities. 25.5% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 55.1%, showing a blend of owner and renter-occupied properties. The average commute time is 20.9 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Panama City offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Panama City?
36 schools tracked · 17,004 students
The largest public schools serving Panama City, FL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
DEANE BOZEMAN SCHOOL
Grades PK-12 · 1,648 students
RUTHERFORD HIGH SCHOOL
Grades 6-12 · 1,423 students
BAY HIGH SCHOOL
Grades 9-12 · 1,298 students
NORTH BAY HAVEN CAREER ACADEMY
Grades 9-12 · 882 students
BAY HAVEN CHARTER ACADEMY
Grades K-5 · 765 students
TOMMY SMITH ELEMENTARY SCHOOL
Grades PK-5 · 731 students
UNIVERSITY ACADEMY SABL INC
Grades K-8 · 707 students
DEER POINT ELEMENTARY SCHOOL
Grades PK-5 · 707 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Panama City, FL?
Want a head-to-head view? Compare Panama City side-by-side with any other U.S. city using our market-comparison tool.
Is Panama City a good real estate investment market?
For investors evaluating Panama City, the price-to-rent ratio of 13.8x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has softened 4.7% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Panama City's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Panama City's median home price.
Frequently asked questions
What is the average home price in Panama City?
The median home sale price in Panama City is $305,000, down 4.7% from last year.
How long do homes stay on market in Panama City?
Homes typically spend 57 days on market before going under contract.
What is the median income in Panama City?
The median household income is $61,125 per year.
Is Panama City a buyer's or seller's market?
With 4.3 months of supply, Panama City is currently a leaning buyer's.
What is the Zillow home value estimate for Panama City?
The Zillow Home Value Index (ZHVI) for Panama City is $286,664, representing the typical home value in the area.
What is the median condo price in Panama City?
The median condo/co-op sale price in Panama City, FL is $187,500, compared to $305,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Panama City?
The median single-family home price in Panama City, FL is $305,000 (about $196 per square foot).
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