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Bay County, Single Family Homes Market Trends: A Comprehensive Analysis
As a leading real estate expert in Bay County, Century 21 Ryan Realty is committed to providing you with the most up-to-date and accurate market trends. In this blog, we’ll delve into the current state of the single-family home market in Bay County, highlighting key metrics and correlations to help you make informed decisions when buying or selling a property.
In-Town Market Trends
The in-town areas of Bay County, including 32401, 32404, 32405, and 32444, are experiencing a seller’s market with varying levels of inventory.
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32401 (South Side PC): Seller’s market with 4.03 months of inventory. Median sold price is $248,500, with a 3.54% increase month-over-month.
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32404 (North Panama City): Seller’s market with 4.12 months of inventory. Median sold price is $316,900, with a 3.24% increase month-over-month.
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32405 (Central PC): Seller’s market, close to a balanced market, with 5.19 months of inventory. Median sold price is $312,500, with a 3.31% increase month-over-month.
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32444 (Lynn Haven): Seller’s market, balanced market, and buyer’s market, with 3.67 months of inventory. Median sold price is $312,500, with a 13.19% increase month-over-month.
Beach Market Trends
The beach locations of Bay County, including 32413, 32407, and 32408, are experiencing a buyer’s market with higher levels of inventory.
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32413 (West PCB): Buyer’s market with 7.81 months of inventory. Median sold price is $456,000, with a 13.14% increase month-over-month.
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32407 (Central PCB): Buyer’s market with 7.36 months of inventory. Median sold price is $389,000, with a 5.12% increase month-over-month.
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32408 (East End PCB): Buyer’s market with 8.61 months of inventory. Median sold price is $425,000, with a 1.16% increase month-over-month.
Key Takeaways
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The in-town areas of Bay County are experiencing a seller’s market, while the beach locations are experiencing a buyer’s market.
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Inventory levels vary across zip codes, with the beach locations having higher levels of inventory.
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Median sold prices are increasing in most areas, with Lynn Haven experiencing the largest increase month-over-month.
Conclusion
Understanding the Bay County single-family home market trends is crucial for making informed decisions when buying or selling a property. By analyzing key metrics such as inventory levels, sold-to-list price ratios, and median days on the market, you can gain valuable insights into the current state of the market. At Century 21 Ryan Realty, we’re committed to providing you with the most accurate and up-to-date market information to help you achieve your real estate goals.
