The State of the Market – Panama City Beach Condos

by Wendell Browne on June 28, 2011

The weather is sizzling on Panama City Beach, so let’s take a look and see how the condo market is doing.

The Good News – Sales have continually increased month over month since the 1st Quarter of 2011 with May being a phenomenal month as far as sales activity. Contrasting the first five months of 2011 to the prior 12 month period, overall sales volume in the condominium sector has increased 40%.

Of course, with all things you have to take the good with the bad. So here’s the bad. Prices continue to correct from prior levels. Contrasting the same five months of the current year to the prior 12 month lookback period, condo prices on a macro level have declined some 20%.

One thing I see that offers hope for this market segment is that the standing inventory is slowly but surely being absorbed. Of course, this is subject to change depending on additional REO/short sale inventory that may enter the market.

Enjoy your Summer. If you are in need of appraisal services for your condo unit, please feel free to visit our website.


{ 2 comments… read them below or add one }

1 Ryan Lundquist

Great graph. Was the little spike in 2010 due to the federal tax credit?


2 Wendell Browne

Thank You, Ryan ! The tax credit did not have a big impact on this market segment.


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