Panama City Beach Market Report
September 18, 2016
It is important to stay up to date on what the market is doing overall. This report on the market in Bay County¬†developed by the Bay County Realtor Association gives a good pulse of what is happening on a year over year basis. Looking at the data, there are some interesting points when it comes to condos. They are:
- The median price of condos have continued to¬†increase.¬†Year over year for July the average sale price is up over 16%! That is fantastic news to those looking to sell.
- New listings are down 38%. I find this interesting as prices have been increasing, yet, it seems by the data less people are listing their condos. This means that if your condo¬†is on the market, odds are you could be in good shape on the price your condo sells for.
- Cash sales are down 15%, which tells me that financing is loosing up. Furthermore, I have plenty of lenders that will state the same opinion as they are looking to lend more funds to condo buyers.
This document has all of the information for July¬†2016¬†of not only condos, but townhouses, single family homes and more within Bay County.
I hope you find it as informative as I do! Let me know if you have questions or want to know how this relates to your property.
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