Panama City, Florida, September 25, 2007
The Florida Association of REALTORS® (FAR) today released home and condo resales numbers for August, 2007 and the outlook is upbeat for Panama City, placing third-best in the state and surpassed only by Marco Island and Pensacola.
The median price for detached, existing single-family homes in Panama City is up by 6 percent over the last 12 months, followed by Ft. Lauderdale, Tallahassee and Gainesville. In comparison, the median price of homes in Florida is down 6 percent overall.
According to the same data, Panama City placed high in existing condominium sales in Florida, second only to Daytona Beach. A 24 percent increase in condo resales in Panama City over the last 12 months measures up favorably against an overall statewide decrease of 25 percent, due in large part to a 21 percent correction in Panama City condominium prices, providing incentive to buyers. To see deals in your area please go to www.heronsgroup.com
Bay County Association of REALTORS® president Scott Bowman points to public awareness campaigns, educating home buyers that now is the best time to invest in real estate, and executed in Panama City, Sarasota, Pensacola, and Marco Island. These areas all show some of the most positive sales data in the state.
CNN and other news sources observe that Panama City will possibly see as much as a seventy two percent increase in home prices over the next five years, with as large as a twelve percent growth in population and as much as a thirty percent rise in per capita income.
For more information
go to A part of our job as Realtors in The Heron Group is to keep our customers informed and educated as the current state of the housing economy. Although nationwide things appear dismal it still remains a GREAT TIME to be a buyer. Please contact any one of us and we would love to be of service.
submitted by Karen of The Heron Group