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Market Intelligence · FL / Bay County

Panama City, FL home prices and housing market

5 ZIP markets liveData updated September 2026Typical value$289K1-yr changeUp1.2%

The typical home value in Panama City, FL is $289K as of September 2026, up 1.2% from a year ago, based on the Zillow Home Value Index. In the typical Panama City ZIP code, the median list price is $327K and homes spend a median of 96 days on market as of September 2026 (Realtor.com).

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Lic #BK3253849 FL

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The coverage

Panama City, by the numbers.

Typical home valueZillow ZHVI, September 2026
$289K
1-yr changeMedian across Panama City ZIPs
+1.2%
ZIP markets live10 tracked in Panama City
5
County
Bay County

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12-month value trend

+1.2% over 12 months

Typical home value in Panama City over the last 12 months: $285K in Sep 2025 to $289K in Sep 2026 (+1.2%).

Sep 2025$285K

Sep 2026$289K

Median Zillow home value index across Panama City's ZIP codes.

Context

Panama City's home values have climbed modestly, with a typical home worth $288,952, up 1.2% over the past year as of September 2026. The median list price sits at $327,488, while 1440 homes are currently for sale. New listings remain steady at 248, though homes are taking time to move, with a median of 96 days on market. Price cuts are appearing on 22.2% of active listings, a sign that some sellers are adjusting expectations. If you're weighing a sale, the modest price appreciation and slower market pace suggest waiting may not yield much benefit, but neither is there urgency to rush.

The numbers

What is the housing market like in Panama City, FL?

Typical home value

$289K

Up1.2%YoY

Median list price

$327K

Days on market

96

Homes for sale

1,440

Price cuts

22.2%

New listings

248

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026)

Figures reflect Panama City's ZIP codes with market data: values and listing medians take the median across ZIPs; inventory and new listings are summed.

Prices over time

Panama City, FL home prices over time

Typical home values in Panama City, FL are up 1.2% over the past year, from $285K in September 2025 to $289K in September 2026.

Typical home value in Panama City, FL, September of each year
MonthTypical value1-yr change
September 2026$288,952+1.2%
September 2025$285,463No prior year

Typical value is the median Zillow Home Value Index across Panama City ZIP codes, taken in September of each year so every row compares the same month.

Market balance

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

Panama City, FL leans toward a buyer's market.

Homes are taking longer to sell and homes for sale are building up relative to new listings, which gives buyers more room to negotiate.

Based on a median of 96 days on market and 22% of listings with a price cut in the typical Panama City ZIP code, and 248 new listings against 1,440 active listings across Panama City, as of September 2026 (Realtor.com).

The outlook

Panama City housing market forecast 2027

-0.3%

Weighted average of Zillow's ZIP forecasts, 12 months to September 2027

A weighted average of Zillow's ZIP forecasts, across 5 Panama City ZIP codes, points to typical home values holding roughly flat by September 2027 (down 0.3%).

Over the 12 months through September 2026, typical home values in Panama City rose 1.2%, per the Zillow Home Value Index.

Will home prices drop in Panama City?

Not by much, on the forecasts: a weighted average of Zillow's ZIP forecasts for Panama City shows typical home values holding roughly flat by September 2027 (down 0.3%), after a 1.2% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

How this is calculated: each ZIP code's 12-month Zillow forecast is weighted by its typical home value (Zillow Home Value Index, September 2026). 5 Panama City ZIP codes have both figures.

Forecast: a weighted average of Zillow's ZIP forecasts (Zillow Home Value Forecast, published October 2026), calculated by Home Value Pros. A forecast, not a guarantee.

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The markets

Which Panama City ZIP codes have the highest home values?

Typical value is the Zillow home value index (ZHVI) for each ZIP, as of September 2026. 1-yr change compares it to the same ZIP a year earlier. We track 10 Panama City ZIP codes in total; the remaining 5 publish as their data clears editorial QA.

Zillow ZHVI, September 2026

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Common questions

Questions about Panama City, FL home prices.

What is a typical home worth in Panama City?

As of September 2026, the typical home value in Panama City is $288,952, which reflects a 1.2% increase over the past year.

How long do homes typically stay on the market in Panama City?

The median time on market is 96 days as of September 2026. With 22.2% of listings carrying price cuts, the market is moderately competitive.

How many homes are available for sale in Panama City?

There are 1440 homes for sale as of September 2026, with 248 new listings added during that period.

Are home prices going up or down in Panama City, FL?

Typical home values in Panama City, FL are up 1.2% over the past year, based on the Zillow Home Value Index as of September 2026.

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

Panama City, FL leans toward a buyer's market. Homes are taking longer to sell and homes for sale are building up relative to new listings, which gives buyers more room to negotiate. Based on a median of 96 days on market and 22% of listings with a price cut in the typical Panama City ZIP code, and 248 new listings against 1,440 active listings across Panama City, as of September 2026 (Realtor.com).

Nearby markets

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