Is Panama City, FL 32408 a buyer’s or seller’s market?
Panama City is a buyer’s market. With about 7.6 months of supply, buyers usually have more time and more room to negotiate on price and terms.
More competitive than 1% of U.S. ZIP codes, and #725 of 796 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Panama City housing market right now
In the three months ending August 31, 2026, 3% of homes in Panama City, FL 32408 sold above their list price, the typical home went under contract in 97 days and there were 7.6 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 283 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 1%, homes sold faster (121 days then) and the median sale price rose 10% to $424,816. Overall, Panama City is more competitive than a year ago, so tougher for buyers.
Within Bay County, homes here sell more slowly than in 87% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county. On our competition score, Panama City ranks #725 of 796 FL ZIP codes with enough sales (score 5 out of 100).
Nearby, Youngstown 32466 (28% sold over asking) and Panama City 32409 (11% sold over asking) are even more competitive.
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Nearby markets
Fountain 32438 — /sq ftLynn Haven 32444Balanced $199 /sq ftPanama City 32401Buyer’s market $197 /sq ftPanama City 32404Balanced $177 /sq ft Browse all markets →Towns like Panama City nearby
Find towns like Panama City in other states →Where Panama City is
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Questions about Panama City real estate
Is Panama City a buyer’s or seller’s market?
A buyer’s market: there were 7.6 months of supply in Panama City, FL 32408 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Panama City?
The typical home went under contract in 97 days in the latest three months.
Do homes in Panama City sell over asking?
3% of homes sold above their original list price, and the typical sale closed at 95.4% of the list price.
What are property taxes in Panama City?
About 0.58% of a home’s value a year in Bay County, or roughly $2,320 on a $400,000 home.
What is the median home price in Panama City?
The median sale price was $424,816 in the three months ending August 31, 2026, about $316 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology