Market Intelligence · FL / Panama City

Panama City, FL 32405 Housing Market

In Panama City, FL 32405, the typical home value is $288,952, up 1.2% over the past year as of September 2026. The median list price is $334,975, and homes spend a median of 103 days on the market. Sellers should expect a slow pace.

Updated September 2026Median value$289K

The median home value in Panama City, FL 32405 is $289K as of September 2026, up 1.2% 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.

Human help

Licensed pros in 32405.

Kinsey Haddock

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Kinsey Haddock

Lic #BK3253849 FL

Whether you're interested in buying or selling a home, there is no bigger decision than choosing the right person who will represent you during the transaction. A qualified, competent agent makes all the difference by helping you navigate the many decisions that arise when buying or selling a home. You need someone who has the experience, expertise and drive to help you find the right fit for you. Kinsey Haddock is here for you! We're dedicated to delivering outstanding service, and results.

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Typical 32405 range

$266K to $312K

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

+1.2% over 12 months

Typical home value in 32405 over the last 12 months: $285K in Sep 2025 to $289K in Sep 2026 (+1.2%).

Sep 2025$285K

Sep 2026$289K

The numbers

What is the 32405 housing market like?

Typical home value

$289K

Up1.2%YoY

Median list price

$335K

Down2.2%MoM

Days on market

103

Up7.3%MoM

Homes for sale

148

Down6.9%MoM

Price cuts

27.6%

Up27.5%MoM

New listings

26

Down35.0%MoM

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

The outlook

32405 housing market forecast 2027

-0.3%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 32405 to stay roughly flat by September 2027 (down 0.3%).

Over the 12 months through September 2026, typical home values in 32405 rose 1.2%, per the Zillow Home Value Index.

Will home prices drop in 32405?

Zillow's forecast does not point to a meaningful drop: it expects typical home values in 32405 to stay 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.

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

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The comparison

How do 32405 home prices compare?

  • 32405$288,952
  • 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

There were 148 homes for sale in Panama City, FL 32405 as of September 2026, with 26 new listings hitting the market that month. The median list price was $334,975, while the typical home value was $288,952, up 1.2% over the past year. Homes sat for a median of 103 days, and 27.6% of listings took a price cut. Buyers have room to negotiate, and sellers who price too high are being forced to adjust. The honest read is that this is a slow market where realistic pricing matters more than optimism.

Monthly payment

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20% · $57,790

Common questions

What people ask us.

How much is a home in 32405 worth?

The typical home value in 32405 is $288,952 as of September 2026, up 1.2% over the past year.

How long do homes take to sell in 32405?

Homes spend a median of 103 days on the market as of September 2026.

Are sellers cutting prices in 32405?

Yes, 27.6% of listings had a price cut as of September 2026.

Discover

Nearby ZIP markets.

Keep reading

Guides for sellers.