The prices in real estate in Panama City Beach, in the Florida region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Panama City Beach has had a strong decrease during the last 6 months. In February, the average price per sq.feet was $401. In the following month the price per sq.feet decreased considerably to $296. The price for the following two months in (April, May) had a considerable decrease of 76 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 82 % 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 $306.75 to $251 during June, and July.
Based upon to the price in Panama City Beach (cities), this has gone up in the last 6 months. The average price for February is $361,435. During March the price had a slight fall till $338,020. During the following two months (April, May) the average price had a considerable increase of 126 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $394,792 and $405,056.5 between June and July.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $330,705 they are 33 % more affordable than the average price for Panama City Beach. The properties with the highest average price have 4 bedrooms, Their price is 60 % more costly than the average. After that we have properties with 3 bedrooms priced at $350,607.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $109 / sq.feet, with an average $184 / sq.feet price in Panama City Beach. The properties with the highest average prices have 1 bedroom. They are 282 % more expensive than the average followed by properties with 4 bedrooms with a price at $307 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $330,705 it is 40 % cheaper than the average price in Panama City Beach. "Apartment" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of $449,948 it is 1432 % more expensive than the average price.
According to the average cost per sq.feet, the most expensive property type would be "House" at an average cost of $185 / sq.feet followed by "Apartment" priced at $192 / sq.feet. "Commercial" is the most costly type of property with a $21,792 / sq.feet cost followed by "Land" with an average price of $424 / sq.feet.