August 2018 Market Update

Seven months into 2018 condo sales prices are up a staggering 11% this year. Sales are outpacing the prior year with volumes up 33% compared to the same period last year. This is all despite an inventory shortage for many individual floor plans. Much of the supply we are seeing is coming from the many preconstruction owners who have yet to see a complete recovery to their original purchase prices. Financing is loosening slightly, but still holding to strict lending requirements. Speculators and flippers are nowhere to be seen. These factors are contributing to the healthy condo market we are seeing in Panama City Beach.

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Ocean Villa sales history

Ocean Villa sales history

Looking at the entire sales history of Ocean Villa, I compared the two bedrooms there with four other buildings that were constructed by the same developer and had identical floor plans. The graphs show a comparison of recent sales, the entire history, sales volume, and annual percentage change. Condos on the west side of the beach tend to demand a slight premium to those located in central Panama City Beach.

Tags: Individual condo sales histories Ocean Villa

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January 2018 Market Update

January 2018 Panama City Beach condo sales update

A Look Back At 2017 Condo Sales In Panama City Beach

2017 was a very healthy year for the Panama City Beach condo market. Sales volume was the biggest surprise with an increase of 40% year over year. An interesting phenomenon this year was a buyer finding their perfect condo, struggling to agree with the seller on a contract price, and watching it sell shortly after. Many buyers who did find their ideal condominium were pleasantly surprised later in the year. Several preferred floor plans had significant price increases this year, or have no available inventory. Strict financing requirements are still keeping speculators and flippers from entering this market.

Tags: Real Estate Market Updates Panama City Beach condos for sale

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  • 7940 Front Beach Rd #108
  • Panama City Beach, FL 32407
  • 850.249.0307