Panama City-Panama City Beach, FL

In this environment, inventory levels are high relative to demand, placing pressure on price discipline. The pace of transactions is slow, with properties remaining on the market for an extended duration. Purchasers likely experience increased flexibility in negotiations, as inventory absorption is protracted.

Average listing prices saw a modest year-over-year decline of 0.8%, which is less pronounced than the 5.0% drop in median listing prices and the 7.9% decrease in median price per square foot. This divergence, alongside an elevated average-vs-median spread, suggests some softness within the higher-price tiers.

2,977 active listings represent the current floor, with new supply arriving at roughly 664 per month.

of active listings carry a price reduction, +2.2% from prior period.

Median price per square foot has moved -7.9% year-over-year.

Pending-to-active ratio — Very Weak.