Market Intelligence · FL / Panama City

Panama City, FL 32401 Housing Market

The typical home value in Panama City, FL 32401 is $215,675, up 1.7% over the past year. Homes are listing at a median price of $249,350 and staying on the market for a median of 88 days.

Updated September 2026Median value$216K

The median home value in Panama City, FL 32401 is $216K as of September 2026, up 1.7% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 32401 range

$198K to $233K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+1.7% over 12 months

Sep 2025$212K

Low $210KHigh $216K

Sep 2026$216K

The numbers

What is the 32401 housing market like?

As of September 2026

Typical home value

$216K

1.7%YoY

Median list price

$249K

0.2%MoM

Days on market

3.5%MoM

Homes for sale

158

1.9%MoM

Price cuts

28.4%

6.9%MoM

New listings

0.0%MoM

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

The outlook

32401 housing market forecast 2027

-0.5%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 32401 to fall 0.5% by September 2027.

Over the 12 months through September 2026, typical home values in 32401 rose 1.7%, per the Zillow Home Value Index.

Will home prices drop in 32401?

Zillow's forecast says they may: it expects typical home values in 32401 to fall 0.5% by September 2027, after a 1.7% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 32401 home prices compare?

32401$215,675
Panama City$288,952
Florida$344,436
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Panama City: 5 ZIPs; Florida: 923 ZIPs; United States: 26,262 ZIPs).

Context

Panama City's 32401 ZIP has 158 homes for sale as of September 2026, with 40 new listings added that month. The median list price of $249,350 reflects a gap between asking prices and the typical home value of $215,675. With a median time on market of 88 days, homes are taking roughly three months to sell. Nearly 28.4% of listings have seen price cuts, suggesting sellers are adjusting to market conditions even as underlying values have grown modestly. For homeowners weighing a sale, the data points to a buyer's market where pricing strategy matters more than it might in a stronger environment.

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Common questions

What people ask us.

What is the typical home value in 32401?

The typical home value in Panama City's 32401 ZIP is $215,675, having increased 1.7% over the past year.

How long do homes stay on the market in 32401?

Homes in this ZIP have a median time on market of 88 days as of September 2026.

How many homes are currently for sale in 32401?

There are 158 homes for sale in 32401, with 40 new listings added in September 2026.

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