Is Panama City, FL 32409 a buyer’s or seller’s market?

The Panama City housing market right now

In the three months ending August 31, 2026, 11% of homes in Panama City, FL 32409 sold above their list price, the typical home went under contract in 66 days and there were 4.2 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 75 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 9%, homes sold faster (97 days then) and the median sale price fell 1% to $394,829. Overall, Panama City is more competitive than a year ago, so tougher for buyers.

Within Bay County, homes here sell faster than in 88% of the county’s ZIP codes, and sell more often over asking than in 88%. On our competition score, Panama City ranks #244 of 796 FL ZIP codes with enough sales (score 26 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) is even more competitive.