The State of the Market-Panama City Beach Condos-2011

by Wendell Browne on January 10, 2012

The Panama City Beach Condo Market

Today we will look at the condo market on Panama City Beach and how it performed in 2011. Overall, Panama City Beach experienced a -8.5% decline in the median sales price for the year. The inventory was reduced by 22% and sales volume was up considerably from 2010 posting a 24% increase in unit sales.

beach condo

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Ending the Year for Beach Condos

Rounding out the year, activity was strong with the 4th Quarter posting a bump up in the median sales price in addition to an increase of 19% in total sales volume as compared to the prior 12 month Quarter period.

What will 2012 bring for the Panama City Beach condo market? The Beach is still significantly oversupplied with inventory, capital is limited in the lender arena, and foreclosure/short sale activity continues to plague the area. With the strong finish that took place in the 4th Quarter of 2011, it will be interesting to see how the 1st Quarter of the New Year performs.


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