The Panama City Beach Condo Market – 2012 in review

by Wendell Browne on February 4, 2013

Today, let’s dive in and see how the condo market on Panama City Beach is performing. Panama City Beach has experienced tremendous declines in the condominium marketplace since the peak of this market in 2006. Considering the fact that the Beaches condo market is subject to a seasonal influx, the information shown in the table below is based on the 2nd and 3rd Quarters of the respective years since these are the most active periods.


It’s hard to swallow the fact that the piece of paradise you purchased back in the boom years has declined in some cases by as much as -48%. Sometimes, the truth hurts. So, you’re probably saying to yourself after seeing those numbers, what’s in store for 2013? Only time will tell, but  this market segment appears to be getting some new life.

Panama City Beach FL Condo market-Qtrs 2-3 annually

Looking at the data for 2012, the median sales price in the Panama City Beach condo market declined overall closing out the year however two of the four Quarter periods experienced positive growth as compared to the prior 12 month period.

The 3rd quarter of 2012 experienced a significant increase in sales volume being up some 36% for the quarter. Closing out the year, the total sales volume increased 7.8% with a reduction of approximately 3% in the standing inventory. Another positive reflected in the data was the continual reduction of the standing inventory for each quarter period in 2012.

Panama City Beach Condo-2012

The takeaway from this is that inventory levels are gradually being absorbed,the median sales price for this market is reaching stabilized levels, and the standing inventory has been reduced by some -64% since the peak of the market.

{ 2 comments… read them below or add one }

1 Tom Horn

I’ve had similar activity in my market Wendell. There has been a decrease in inventory levels with an upward trend in values. Hopefully this will continue.


2 Wendell Browne

Glad to hear it Tom. Looking forward to 2013.


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