Buying Guides · Panama City Beach
Houses or Condos in Panama City Beach?
Twelve months of closed sales, side by side, so you can see what each one costs, how long it takes to sell, and what you are really trading.
It is the first question we get from almost everyone who calls about Panama City Beach, and the honest answer is not “it depends.” It is a set of numbers. Here is what the MLS shows for the twelve months ending September 30, 2026, across the three beach ZIP codes, 32407, 32408 and 32413. We pulled it ourselves, and we will tell you what we think it means.
Houses
1,491 sold. Median $529,995, average $688,994. $327 a square foot. 137 days from listing to closing. Sold at 92.4% of original asking.
Condos
1,311 sold. Median $375,000, average $421,947. $368 a square foot. 165 days from listing to closing. Sold at 90.6% of original asking.
Townhomes and attached
537 sold. Median $349,900, average $418,136. 117 days from listing to closing. Sold at 93.5% of original asking.
Closed sales, October 1, 2025 through September 30, 2026, ZIP codes 32407, 32408 and 32413, from the MLS. Active listing counts as of October 8, 2026.
Houses
Fewer of them, and they go faster
Panama City Beach is usually described as a condo town, and by the skyline it is. By what actually sells, it is a house market. 1,491 houses closed in the last twelve months against 587 listed for sale today, which works out to under five months of supply. That is a market where a well-priced house finds its buyer in a season, not a year.
Three- and four-bedrooms are the whole middle of it: 744 three-bedrooms and 443 four-bedrooms closed. The busiest price band was $400,000 to $500,000 with 336 sales, and the market thins steadily above $750,000. Forty-five houses sold for more than $2,000,000, almost all of them on or near the Gulf.
Houses also moved up this year. Sales rose from 1,259 to 1,491, and the average price rose about 6%, from $647,907 to $688,994.
Condos
More choice, and more room to negotiate
1,311 condos closed, and there are 968 listed for sale today, close to nine months of supply. That is nearly double the house figure, and it shows up in the other numbers: a condo took 165 days to sell on average, four weeks longer than a house, and closed at 90.6% of what the seller first asked.
One in three condos that sold went for under $300,000, 429 of them, and two-bedrooms were the most common at 621 sales. One-bedrooms accounted for 357. The average condo price slipped about 1% from the year before, and the price per square foot fell from $392 to $368.
None of that makes a condo a bad buy. It makes it a buy where you have time, and where a reasonable offer on a unit that has been sitting is usually a conversation the seller is ready to have.
The number that surprises people
A condo costs less than a house, but more per square foot: $368 against $327. You are not paying for space. You are paying for the Gulf out the window, the pool downstairs, and the fact that somebody else cuts the grass. A house at $327 a foot is buying land and room; a condo at $368 is buying location. Decide which one you actually want before you compare prices.
The rental question
Most condos can be rented. Most houses, it depends on the street.
Of the 968 condos for sale in these three ZIP codes today, 862 say short-term rental is allowed. That is 89%, and it is the reason the condo market here has more sellers and more buyers than the house market at any given moment: a lot of those units are bought as rentals and sold as rentals.
Houses are neighborhood by neighborhood. Some subdivisions allow it, some have voted it out, and a few are in the middle of arguing about it. Every listing on our site shows the rental flag from the MLS, and we will tell you what we know about the street before you make an offer.
One thing we will not do is quote you a rental income figure. Every number like that comes from someone who wants to manage the unit. Ask for the actual rental history and read the management agreement.
A house makes sense when
You want a yard, a garage and room to spread out. You plan to live here, or to keep it mostly for yourselves. You would rather own the roof than vote on it.
A condo makes sense when
You want the Gulf, not a drive to it. You want to lock the door and leave for three months. You are buying partly for rental and want a building where that is the norm.
Either way, read these first
On a condo: the association budget, the milestone inspection and the reserve study, which Florida now requires for older buildings. On a house: the flood zone, which is on the map on every one of our listing pages, and the insurance history.
See for yourself
Every house and every condo in Panama City Beach, straight from the MLS
No sign-up required to browse every listing — an account just saves your favorites and searches. Questions about a specific building or street? Call or text us at (850) 940-6472. You get Darrell or Angela.