Is Panama City, FL 32405 a buyer’s or seller’s market?

The Panama City housing market right now

In the three months ending August 31, 2026, 9% of homes in Panama City, FL 32405 sold above their list price, the typical home went under contract in 69 days and there were 4 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 127 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 6%, homes sold faster (75 days then) and the median sale price rose 24% to $346,850. Overall, Panama City is more competitive than a year ago, so tougher for buyers.

Within Bay County, homes here sell faster than in 63% of the county’s ZIP codes, and sell more often over asking than in 75%. On our competition score, Panama City ranks #411 of 796 FL ZIP codes with enough sales (score 19 out of 100).

Nearby, buyers who want less competition could look at Panama City 32408 (3% sold over asking) or Panama City Beach 32407 (5% sold over asking), while Youngstown 32466 (28% sold over asking) and Panama City 32409 (11% sold over asking) are even more competitive.