Our market is still seeing a great number of home sales recently. The market has calmed some in our investor market, not as many competing offers, but often still multiple offer situations. Many communities are still continuing to build in our area, many new companies and jobs are being added, and construction at Tyndall Air Force Base has continued. As our area continues to grow homes are still selling very quickly in our median market, with the most desirable home sales being houses priced under $300k. Condos are still still selling as investors see the rental values continuing to hold steady. Slowly more condemn homes from Hurricane Michael are coming available in market. Foreclosures are slowly coming on market, most being reverse mortgage type. Land sales have continued, in particular for new homes to be built on or mobiles to be placed on. Commercial properties are still selling as we continue to grow and new companies enter our area. Interest rates have dropped back down for buyers. Although funds for Rehouse Bay have ran out, there are still programsfor buyers that help with down payment and closing assistance, please give me a call for more info.
I do not foresee the Panama City market to slow down anymore than what we have any time soon. Market time has gone up, properties are not going as fast as before, inventory is still down but we are seeing better numbers than a year ago, and the median price range has gone up. Homes under $300k are the quickest to sell with the most buyer pool. It’s still a good time to buy or sell.
-Coralee
