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Bay County on the Rise: New Developments, Jobs, and Opportunities
New Developments and Growth in Bay County and Surrounding Areas
Bay County and surrounding areas are experiencing a surge in new developments, constructions, and job opportunities, driven by various industries, including:
Housing Developments:
- Toll Brothers: Luxury homes in communities like Palmetto, Sandestin, Hathaway, and Delwood.
- DR Horton: New homes in various communities, with prices starting from the mid-$300,000s.
- Fischer Homes: Developing new construction homes in communities like Ivy, Jasmine, Linden, Edenton, and more.
- Traton Homes: Building new homes in communities like Sunbrook and Seamont.
- Minto Communities: Developing new home communities like Camellia, Bamboo, and more.
- SweetBay: A 3,200-acre master-planned community featuring new homes, parks, trails, outdoor recreational spaces, a town center, and a STEM-focused K-8 school.
Margaritaville and Medical Complex:
- Margaritaville Panama City Beach: A 13-story, 300-room hotel, 150 luxury residences, multiple dining and entertainment options, and a private beach and water park.
- Medical Complex: An 87,000-acre medical facility is planned near Margaritaville, which will provide a range of medical services and create new job opportunities.
Healthcare Growth:
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- Ascension Sacred Heart Hospital: According to Ascension Sacred Heart’s website and recent news articles, a new $85 million hospital is indeed under construction in Panama City Beach, featuring 76 beds and state-of-the-art facilities. (Note: The cost is $85 million, not $100 million.)
- Gulf Coast Regional Medical Center: Gulf Coast Regional Medical Center has undergone expansions and renovations in recent years, including the addition of new services and facilities.
- Specialized Health Services: There are indeed new medical offices and specialized healthcare services opening in Bay County, including orthopedic and cardiovascular care.
The Aviation and Military Growth in Bay County is an exciting development, driven by significant investments and expansions in the region. Here are some key highlights:
IAG Aero Group
- $107 million investment: IAG Aero Group is investing $107 million in a new aviation facility at the Northwest Florida Beaches International Airport (ECP).
- 500 new jobs: This development is expected to create 500 new jobs in the aviation industry, contributing to the region’s economic growth.
- Aviation maintenance and repair: The new facility will provide aviation maintenance and repair services, supporting the growth of the aviation industry in the region.
Tyndall Air Force Base
- Rebuilding and expansion: Tyndall Air Force Base is undergoing a significant rebuilding and expansion effort after Hurricane Michael.
- New facilities and personnel: The base is receiving new facilities and personnel, enhancing its capabilities and supporting the region’s military presence.
- F-35 Lightning II training: Tyndall Air Force Base is also becoming a hub for F-35 Lightning II training, further solidifying its importance in the region.
Naval Support Activity Panama City
- Growing operations and personnel: Naval Support Activity Panama City is expanding its operations and personnel, supporting the Navy’s research and development efforts.
- Supporting the Navy’s mission: The base plays a critical role in supporting the Navy’s mission, including the development of new technologies and systems.
These developments demonstrate the significant investments being made in Bay County’s aviation and military sectors, driving economic growth, creating new jobs, and enhancing the region’s importance in the defense and aerospace industries.
Other Developments:
- TopGolf: A high-tech driving range and entertainment venue is coming to Panama City Beach, featuring climate-controlled hitting bays, a restaurant and bar, and meeting spaces.
- Tootsies: A new beachfront bar and restaurant is opening in the former Spinnaker Beach Club location.
- McGuire’s Irish Pub: A new location of the popular pub is coming to Panama City Beach.
- Pirates Voyage Dinner & Show: A new dinner show attraction is opening in Panama City Beach, featuring swashbuckling adventures and a four-course meal.
These developments are expected to bring new jobs, economic growth, and opportunities to the area, making Bay County and surrounding areas an exciting place to live, work, and visit.
Listing By: Melany Hathcock, REALTOR, Direct: (850) 628-0253
https://melanyhathcock.sites.c21.homes/listing/FL/Panama-City/7420-Thomas-Drive-32408/201974779
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
Market Trends 32408 Panama City Beach, Florida
Understanding Real Estate Metrics: A Seller's Guide
Months Supply of Inventory: 7.17
12-Month Change in Months of Inventory: +39.49%
Median Days Homes are On the Market: 60
List to Sold Price Percentage: 96.2%
Median Sold Price: $540,000
Key Takeaways
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Understanding the correlations between these real estate metrics can help sellers navigate the market effectively.
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The current market conditions suggest a more competitive landscape, requiring sellers to adjust their pricing strategy.
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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
https://jenabuchanan.sites.c21.homes/listing/FL/Panama-City-Beach/525-Wahoo-Road-32408/194162001
