The prices in real estate in Panama City Beach, in the Florida region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Panama City Beach has increased strongly during the last 6 months. In January, the average price per sq.feet was $364. In February this price pretty much remained the same at a value of $368 per sq.feet. In the following two months the price per sq.feet has increased 113 %, going from $366 to $415 per sq.feet. The price per sq.feet has had a considerable increase of 123 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $390.5 to $480 during May, and June.
Based upon to the price in Panama City Beach (cities), this has gone up considerably in the last 6 months. The price in January is $487,013, rising in February till $531,419. During the following two months (March, April) the price has had an average incrementation from $509,216 to $566,286.5. Based on an analysis of the first four prices and the last two months the average price has risen strongly 129 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $678,119 they are 34 % more affordable than the average price for Panama City Beach. The properties with the highest average price have 4 bedrooms, Their price is 29 % more costly than the average. After that we have properties with 3 bedrooms priced at $748,184.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $375 / sq.feet, with an average $483 / sq.feet price in Panama City Beach. The properties with the highest average prices have 1 bedroom. They are 5 % more expensive than the average followed by properties with 2 bedrooms with a price at $459 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $678,119 it is 42 % cheaper than the average price in Panama City Beach. "Condo" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of $754,353 it is 16 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $169 / sq.feet followed by "Townhouse" priced at $383 / sq.feet. "Condo" is the most costly type of property with a $515 / sq.feet cost followed by "House" with an average price of $417 / sq.feet.