August 2020 Market Update

Condo pricing is 1.9% lower for the year. Even with Covid, the condo market is holding its own. A decade of strict lending requirements created a market of financially sound owners. Panama City Beach will navigate 2020 with ease, but don’t expect average values to be significantly higher this year.

Calypso Condominium, Real Estate Market Updates, Panama City Beach condos for sale, Panama City Beach real estate

Read more: August 2020 Market Update

  • Created on .
  • Last updated on .
  • Hits: 66

PreConstruction Condo Sales In Panama City Beach 2020

Three years after my 2017 Preconstruction Condo Sales in Panama City article, not much has changed. We are still years away from new preconstruction condo projects breaking ground in Panama City Beach. Recent sales include a Calypso 2 bedroom + bunk floor plan for $477,000, and a Palazzo 2 bedroom + bunk floor plan for $465,000. It will be quite some time before we see enough buyers willing to pay $570,000 for the same floor plan in a preconstruction project. That is roughly the price point needed for preconstruction to be profitable. I believe resale pricing needs to increase at least another 20% before we see any measurable preconstruction reservation and contract demand. It is also important to understand Calypso and Palazzo are on the west side of Panama City Beach.

Panama City Beach PreConstruction

Read more: PreConstruction Condo Sales In Panama City Beach 2020

  • Created on .
  • Last updated on .
  • Hits: 1261

Shores of Panama Auction Results

Shores of Panama Auction Results

Shores of Panama’s December 2019 auction advertised 99 Luxury Condominiums being auctioned off on December 4, 2019; 20 selling absolute with no reserve. All 20 of the absolute units had final bids as shown below. As of 1/19/2020 only 16 of the 20 absolute condos have sold and 20 other bulk owner units have been recorded as sold in Bay County Records. So out of the 99 advertised condos, it looks like 36 have sold to date. We will follow up later and update this number.

Shores of Panama

Read more: Shores of Panama Auction Results

  • Created on .
  • Last updated on .
  • Hits: 1609

November 2019 Market Update

Following an increase of 10% in 2018, we are already up by 6.9% in 2019. Compared to the same period last year, the sales volume is down by 21%, but still higher than we expected. Since 2011, we have been able to see a healthy balance with our sales volume performance.  I am not seeing any signs of what would be considered as a ‘real’ pre-construction supply. As such, sales price increases and a steady volume all reflect the fact that Panama City Beach is continuing to improve, mature, and grow as a vacation destination.

Calypso Condominium, Real Estate Market Updates, Panama City Beach condos for sale, Panama City Beach real estate, Splash Condominium

Read more: November 2019 Market Update

  • Created on .
  • Last updated on .
  • Hits: 3150

Condominium loans in Panama City Beach

condo loans in Panama City Beach

As times change, so do condominium loans in Panama City Beach. The reason is because most buyers are people who purchase these properties as secondary residences or investment properties. The type of loans that banks grant for secondary residences are different from those offered for primary residences especially after the mortgage meltdown of 2008. Before the mortgage crisis, most lenders sold their condominium loans to Fannie Mae, Freddie Mac and any other bank or financial institution that was willing to take them on the secondary market.

Panama City Beach condos for sale, Condo Financing

Read more: Condominium loans in Panama City Beach

  • Created on .
  • Last updated on .
  • Hits: 713660
© 2018 Waterview Property Group LLC
  • 7940 Front Beach Rd #108
  • Panama City Beach, FL 32407
  • 850.249.0307