When compared to other gulf front buildings in Panama City Beach, Shores of Panama’s dues can seem high at first glance. This article will look deeper into the 2019 dues and what you can expect in the future. Association dues are usually made up of three separate cost centers. Operations, Reserves, and loans (if any). Understanding the operating budget is outside the scope of this article. We will cover reserves and the loan. In 2019 the association reported a 13.55% increase in dues. They reported “This was driven by the increase in cost associated with the mortgage of the pool vs. the lease payments as the main driver”. This section is my attempt to help you break down the math with my estimates.

After a 10% increase in 2018, we are up 3% so far this year. Sales volume is down 40% compared to the same period last year. Preconstruction owners made up much of our inventory supply for years. This supply is quickly diminishing and returning us to sustainable sales volumes. Strict lending standards are keeping our condo market free from outside influences.

With only two months remaining in 2018 condo sales prices are up 10% year to date. Sales volume is up 12% compared to the same period last year. Fourth quarter sales volume is going to be significantly impacted by Hurricane Michael. This will be covered in further detail later. The majority of supply is being provided by preconstruction owners who have still not seen prices fully recover. We are seeing demand from people who want to own condos in Panama City Beach. While buyers are paying attention to the numbers, we have not seen speculators buying Panama City Beach gulf front condos. We can attribute this to strict lending standards preventing noncredit worthy buyers from entering the market. This is providing a balanced market free of outside influences.

Seven months into 2018 condo sales prices are up a staggering 11% this year. Sales are outpacing the prior year with volumes up 26% 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.