Panama City Property Market and Real Estate Guide

(Panama City, Florida - FL, USA)



Located on the panhandle of Florida, Panama City is a beach community that has seen rapid growth in the last few years. It is especially popular with retirees, who live in well-manicured communities and condominiums.

The weather in Panama City is ideal in any season. In November and December, a 'Home for the Holidays' festival is staged in the downtown districts, as this is when retirees and half-year residents are in town. Rentals along Edgewater Gulf Beach, West Panama City Beach and Gulf Lagoon Beach are busy during the high school and university Spring Break period. Families on vacation flood the market in the summer.


Property values in Panama City peaked in 2006, and then held until the global recession took hold. Prices have dropped in recent years, and there is reason to believe that investors who buy now and hold their property for a few years may see moderate gains as the economy rebounds. Caution is advised, however, as some still regard Florida's housing market as unstable.

Renting Serviced Apartments

Serviced apartments are everywhere in Panama City. These book up during Spring Break and the summer vacation. Typically, they are fully furnished and feature anything from one to three bedrooms. They usually have to be booked a week at a time, and longer stays afford greater discounts.

Extended-stay holiday units include little (if any) service. Opposite to this, retirement communities include a number of amenities. These rental properties may provide in-room cleaning services, meals and community activities. While much more expensive than a standard apartment, these communities offer savings compared to comparably sized hotels or resorts.

Buying Apartments and Houses

The price of a property or rental unit in Panama City has more to do with its immediate community than its actual location. Upmarket communities are scattered across the beachfront.

The median price for Panama City homes is around the low six figures, down some 20 percent from just five years ago. Prices can easily triple in upmarket neighborhoods such as Northshore, Bay View Heights and Bunkers Cove. Closing costs for buyers are usually 1.8 percent of the sale price, a figure that, while low by international standards, is well above the US average.

Real Estate Agents

It is important to find a real-estate agent who has your best interests in mind, especially given the fact that so many new properties have been built in the last decade. Agents with good customer reviews and a well-kept website are advised, as they are likely to run a reputable operation.

Check out the following Panama City realtors and real estate agents:

Nautilus Realty and Management
Address: 1405 West 15th Street, Panama City, Florida FL, 32401, USA
Tel: +1 850 215 2800
Email: salesstaff@nautilusrealty.com
Website: www.nautilusrealtyandmanagement.com
Nautilus manages a development in Panama City and has a range of properties for sale and for rent.

St. Andrew Shore Realty
Address: 400 West 11th Street, Panama City, Florida FL, 32401, USA
Tel: +1 850 763 0320
Email: info@standrewshore.com
Website: www.standrewshore.com
This locally owned realtor has an extensive portfolio that includes homes and condominiums for sale, as well as long-term rentals.

Overstreet Realty
Address: 747 Harrison Avenue, Panama City, Florida FL, 32401, USA
Tel: +1 850 763 4459
Email: via website
Website: www.overstreetrealty.net
Overstreet Realty manages a portfolio of houses, townhouses, condominiums and vacant lots in Panama City.