Market Trends 32407 Panama City Beach Florida

Understanding the Real Estate Market in 32407: A Seller’s Guide

As a seller in the 32407 zip code, it’s essential to stay informed about the current state of the real estate market. In this article, we’ll break down the key metrics that can impact the sale of your home and provide you with valuable insights to help you navigate the market.

Months Supply of Inventory: 9.01

The Months Supply of Inventory is a crucial metric that indicates how long it would take to sell all the homes on the market given the current pace of sales. In the 32407 zip code, this metric currently stands at 9.01. A higher number suggests a buyer’s market, where there is more inventory than demand.

12-Month Change in Months of Inventory: +35.9%

The 12-Month Change in Months of Inventory has increased by +35.9%, indicating a trend towards a higher inventory level compared to the previous year. This could potentially lead to increased competition among sellers and longer days on the market for your home.

Median Days Homes are On the Market: 112

The Median Days Homes are On the Market is 112, which means that, on average, it takes just over three months to sell a home in the current market conditions. It’s essential for sellers to be patient and prepared for a potentially longer selling process.

List to Sold Price Percentage: 96.2%

Despite the longer days on the market, sellers can take comfort in the List to Sold Price Percentage of 96.2%. This metric shows that homes are selling close to their list price, indicating that there is still strong demand for properties in your area.

Median Sold Price: $394,675

The Median Sold Price of $394,675 gives sellers an idea of what similar homes are selling for in the market. Pricing your home competitively is crucial to attracting potential buyers and ensuring a successful sale.

Conclusion

Understanding the current market conditions and trends is crucial for sellers in the 32407 zip code. By staying informed about the key metrics that impact the sale of your home, you can make informed decisions and maximize the sale of your property.

Read the Full Report here: 32407 Residential Market Trends – Realtors Property Resource

Listing agent and location for image above, Tabitha Garcia, Century 21 Ryan Realty. Direct: 850-866-4783 https://tabithagarcia.sites.c21.homes/listing/FL/Panama-City-Beach/170-W-Leslie-Lane-32407/201323510