Condominium prices have increased 5.6 percent this year. That is down from the 6.1 percent we were up in the June Market Update. It is not that prices have fallen, but that the majority of condos selling are of floor plans that bring a lower per square foot price. For example: A 2-bedroom floor plan with both bedrooms off the water is going to sell for considerably less than a 2-bedroom with a master bedroom on the water.
Condo sales price history
Sales histories for individual buildings and floor plans
The graph below shows a sales history of Calypso Condominium. This is followed by a graph detailing the recent sales for Ocean Villa and other similar buildings. Both are examples of sales prices holding constant or increasing.
Ocean Villa and other similar buildings
Sales volume for Panama City Beach condos
Annual sales volume comparison of condos built before vs after 2000
Condos built before 2000 are up more than 18% compared to last years sales volume. Condos built after 2000 are falling just short of last years sales volume. All condo sales are 5% higher than last year at this time.
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