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Navigating the Current Real Estate Market in Panama City, FL 32409: A Seller’s Guide
As a seller in the current real estate market, it’s essential to understand the correlation between key metrics to make informed decisions about listing your property in Panama City, FL 32409. Located in Bay County, Panama City is a popular destination for beachgoers and outdoor enthusiasts.
Market Trends: A Shift Towards Balance
The Months Supply of Inventory is currently at 4.68, indicating a relatively low inventory of homes for sale. However, the 12-Month Change in Months of Inventory has increased by +38.05%, suggesting a shift towards a more balanced market. This means that sellers can expect more competition from other listings, and buyers may have more negotiating power.
Days on Market: A Relatively Quick Turnaround
The Median Days Homes are On the Market is currently at 30, indicating a relatively quick turnaround time. This is good news for sellers, as it means that properties are selling relatively quickly. However, the increase in inventory may lead to this number trending upwards, giving buyers more time to consider their options.
Pricing Strategies: Room for Negotiation
The List to Sold Price Percentage is at 95.9%, indicating that sellers are receiving just under asking price for their properties. This suggests room for negotiation, but buyers are still willing to pay close to the list price. Sellers should be prepared to negotiate, but also be mindful of pricing their properties competitively to attract buyers.
Median Sold Price: A Benchmark for Sellers
The Median Sold Price is $454,500, providing sellers with a benchmark for pricing their properties. This number represents the midpoint of all sold prices in the market, giving sellers a realistic expectation of what they can expect to receive for their property.
Neighborhood Highlights: What Makes Panama City, FL 32409 Desirable
Panama City, FL 32409 is a desirable neighborhood due to its proximity to the beach, outdoor recreational opportunities, and growing economy. Some popular attractions and amenities in the area include:
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St. Andrews State Park
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Shell Island
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Panama City Beach Pier
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Gulf World Marine Park
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Pier Park
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30A
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Mexico Beach
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Port St. Joe
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St. Joe Beach
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Cape San Blas
Conclusion: Navigating the Shifting Market
The current real estate market in Panama City, FL 32409 is shifting towards a more balanced dynamic. Sellers should be mindful of pricing their properties competitively, as well as being prepared for potentially longer days on the market. By staying informed and working with a knowledgeable real estate agent, sellers can navigate these market conditions effectively to achieve a successful sale.
READ THE FULL REPORT HERE: 32409 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/Southport/3052-Rachel-Place-32409/201998958
