Panama City-Panama City Beach, FL

With a pending ratio significantly below 0.25, the current market structure indicates considerable inventory pressure on sellers, leading to extended market times. The relatively low absorption pace suggests that purchasers have extended periods for deliberation, potentially enabling more disciplined pricing negotiations. This environment favors buyers who prioritize patience and strategic offers.

The average listing price currently stands at $558,309, markedly higher than the median listing price of $399,000. This disparity, coupled with a 2.6% year-over-year decline in average listing price and a 7.7% decline in median price per square foot, signals softness in the higher-price tiers.

2,933 active listings represent the current floor, with new supply arriving at roughly 530 per month.

of active listings carry a price reduction, +0.3% from prior period.

Median price per square foot has moved -7.7% year-over-year.

Pending-to-active ratio — Very Weak.