Market Intelligence · FL / Panama City

Panama City, FL 32408 Housing Market

In Panama City's 32408 ZIP, the typical home value sits at $370,657, down 1.1% over the past year. The median list price is $392,500, with homes lingering on the market for a median of 108 days.

Updated September 2026Median value$371K

The median home value in Panama City, FL 32408 is $371K as of September 2026, down 1.1% 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.

Sell without the wait

Sell your Panama City home for cash.

A competitive, no-obligation cash offer from our institutional network. No repairs, no showings, close on your timeline. Most sellers get their cash offer within 24 hours.

Typical 32408 range

$341K to $400K

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.

Not sure cash is the right move? Discuss your options with a licensed local pro, free.

Asset monitoring

Track your home's value.

A free monthly briefing with your estimated value and 32408 market stats. Unsubscribe anytime.

See how a cash offer works citywide: Sell your house fast in Panama City, FL.

12-month value trend

-1.1% over 12 months

Sep 2025$375K

Low $371KHigh $375K

Sep 2026$371K

The numbers

What is the 32408 housing market like?

As of September 2026

Typical home value

$371K

1.1%YoY

Median list price

$393K

1.6%MoM

Days on market

108

0.0%MoM

Homes for sale

691

0.3%MoM

Price cuts

22.2%

2.6%MoM

New listings

26.7%MoM

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

The outlook

32408 housing market forecast 2027

-0.2%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 32408 to stay roughly flat by September 2027 (down 0.2%).

Over the 12 months through September 2026, typical home values in 32408 fell 1.1%, per the Zillow Home Value Index.

Will home prices drop in 32408?

Zillow's forecast does not point to a meaningful drop: it expects typical home values in 32408 to stay roughly flat by September 2027 (down 0.2%), after a 1.1% decline 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.

Free home value report

See what your 32408 home is worth.

See your estimated value and a real cash offer, side by side. No obligation, about a minute.

The comparison

How do 32408 home prices compare?

32408$370,657
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

The market shows signs of softness. With 691 homes for sale and 88 new listings as of September 2026, there is meaningful supply. The median days on market of 108 indicates properties are taking time to move. Additionally, 22.2% of listings carry a price cut, reflecting seller adjustments in response to slower demand. For homeowners considering a sale, this environment rewards pricing realism and flexibility.

Monthly payment

Estimate your monthly payment.

Home price

Down payment20% · $74,131

Term

Rate (%)

Common questions

What people ask us.

What is the typical home value in 32408?

The typical home value in Panama City's 32408 ZIP is $370,657, down 1.1% over the past year as of September 2026.

How long do homes stay on the market in 32408?

Homes in this ZIP have a median days on market of 108 as of September 2026.

What share of listings have seen a price cut?

As of September 2026, 22.2% of listings in 32408 carried a price cut.

Discover

Nearby ZIP markets.

Keep reading