Wonder where the market is in Panama City?  I like to track the average sales price and number of sales in the owner occupied or single family market for Bay County, Florida, including Panama City, Lynn Haven, Callaway, Panama City Beach.

In 2010, the average sales price was $169,464 compared to $185,630, almost a 9% drop.

So far in 2011, the average Panama City Florida sales prices is $162,084, just over a 4% drop in the first 2 months.

Compare that to the peak of $257,924 in 2005, you can see that it is a good time to buy in Panama City, Panama City Beach or Lynn Haven.   That 37% drop in average sales price means consumers or buyers should be buying NOW.  Don't wait for the market to go back up!

Call The Payne Group today to start your home search!