Is Panama City, FL 32401 a buyer’s or seller’s market?

The Panama City housing market right now

In the three months ending August 31, 2026, 6% of homes in Panama City, FL 32401 sold above their list price, the typical home went under contract in 67 days and there were 6.6 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 82 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 11%, homes sold faster (69 days then) and the median sale price fell 4% to $239,896. Overall, Panama City is less competitive than a year ago, which gives buyers more room.

Within Bay County, homes here sell faster than in 75% of the county’s ZIP codes, and sell more often over asking than in 50%. On our competition score, Panama City ranks #544 of 796 FL ZIP codes with enough sales (score 14 out of 100).

Nearby, buyers who want less competition could look at Panama City 32408 (3% sold over asking), while Youngstown 32466 (28% sold over asking) and Panama City 32409 (11% sold over asking) are even more competitive.