Panama City Beach, FL home prices and housing market

Panama City Beach homes are now sitting on the market for a hundred and seven days. Here is what that kind of wait means if you are thinking about selling this year. There are about one thousand one hundred homes for sale right now, and only about two hundred new listings came on last month, so the pile of competition is not shrinking fast. The typical home here is worth about four hundred thirty-two thousand dollars, down just under two percent from a year ago, so values are soft but not falling apart. But here is the catch. The median asking price is about four hundred eighty-two thousand dollars, roughly fifty thousand dollars above what homes are actually worth. That gap is why more than one in five listings has already taken a price cut. Sellers are aiming high, sitting for nearly four months, and then cutting to find a buyer. If you list this fall, price to today's value, not last year's hope. A home priced right still sells, while an ambitious one joins the hundred and seven day crowd. For a number you can trust, get a free home value estimate at Home Value Pros dot com.