Panama City Beach Condo Market Overview - January 2025

[Christopher Arnold]

Starting in February 2024, sales volume took a sharp dive, triggering significant price reductions by July. Over the next two quarters, property values dropped by 15%. While the average annual price decline from 2023 to 2024 was around 5%, this figure doesn't fully reflect the severity of the price corrections seen. Concurrently, rental income saw a decline, and many condo associations faced increased budgetary expenses in 2024.
Moving into 2025, these associations continue to anticipate elevated costs in their budgets. However, in 2024, some of these financial burdens were alleviated by a surprising decrease in insurance premiums. Although insurance rates are still substantially higher than they were half a decade ago, they were not as high as many had budgeted for in 2024.

The buyers looking for Panama City Beach Condos for sale also have dropped to the lowest level in over 20 years.

Here is the full article:

https://panamabeachrealty.com/january-2025-panama-city-beach...