February Events in Panama City and Panama City Beach: Fun for Everyone, 2025!

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

Understanding Real Estate Metrics: A Seller's Guide

As a seller, grasping the relationships between key real estate metrics is crucial for making informed decisions about listing your property. Here's a breakdown of the current market conditions:

Months Supply of Inventory: 7.17

This metric indicates how long it would take for all current listings to sell at the current sales pace. A higher number suggests a buyer's market, while a lower number indicates a seller's market.

12-Month Change in Months of Inventory: +39.49%

The significant increase in inventory suggests a more competitive market, which may require sellers to adjust their pricing strategy.

Median Days Homes are On the Market: 60

This metric indicates the average number of days it takes for a property to sell. A lower median days on market suggests a faster turnover rate and a strong market for sellers.

List to Sold Price Percentage: 96.2%

This metric shows that homes are selling for 96.2% of their listed price, on average. Sellers can use this information to understand the negotiating room in the market and guide pricing decisions.

Median Sold Price: $540,000

This metric provides sellers with an idea of the average sales price in the market, helping them set a competitive listing price and attract potential buyers.

Key Takeaways

• Understanding the correlations between these real estate metrics can help sellers navigate the market effectively.

• The current market conditions suggest a more competitive landscape, requiring sellers to adjust their pricing strategy.

• By leveraging these insights, sellers can maximize their chances of a successful sale.

Read the Full Report here: 32408 Residential Market Trends, Realtors Property Resource

Listing agent and location for image above, Jena Buchanan, REALTOR, Century 21 Ryan Realty, Direct: (229) 854-6558
https://jenabuchanan.sites.c21.homes/listing/FL/Panama-City-Beach/525-Wahoo-Road-32408/194162001

Local Market Update for December 2024

U.S. Existing-Home Sales See Second Consecutive Month of Growth!

The latest numbers from the National Association of REALTORS® (NAR) reveal a 4.8% increase in existing-home sales, reaching an eight-month high of 4.15 million units. This marks a 6.1% year-over-year increase, the largest since June 2021.

Here's a breakdown of the local market:

• Detached Single Family Closed Sales: -4.2% to 300

• Townhouse/Condo Closed Sales: +11.8% to 104

• Mobile/Manufactured Closed Sales: +14.8% to 31

Median sales prices saw mixed results:

• Detached Single Family: -6.9% to $330,650

• Townhouse/Condo: -7.2% to $369,500

• Mobile/Manufactured: +5.7% to $166,000

  Inventory remains a challenge, with a 2.9% decrease from the previous month and a 17.7% increase year-over-year. The current 3.8-month supply of homes for sale continues to drive up sales prices nationwide, with a median existing-home price of $406,100, up 4.7% from last year. Stay informed about the latest real estate trends and market updates!

  Click Here for the Local Market Update Dec 2024, Bay County

  Click Here for Monthly Indicators, Bay County

Maximize Your Home's Value with Local Expertise

To get the best price for your home, it's crucial to understand the unique dynamics of your local market. Our experienced real estate team can provide you with a personalized market analysis to determine your home's accurate value. Avoid the risks of underpricing or overpricing your property.

Contact us today to schedule your market analysis and let us guide you in selling your home for top dollar!

Min Price $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000 $850,000 $900,000 $950,000 $1,000,000 $1,100,000 $1,200,000 $1,300,000 $1,400,000 $1,500,000 $1,600,000 $1,700,000 $1,800,000 $1,900,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,000 $10,000,000 Max Price $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000 $850,000 $900,000 $950,000 $1,000,000 $1,100,000 $1,200,000 $1,300,000 $1,400,000 $1,500,000 $1,600,000 $1,700,000 $1,800,000 $1,900,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,000 $10,000,000 Bed 1 2 3 4 5 6 7 8 Bath 1 2 3 4 5 6 7 8