The prices in real estate in Panama City Beach, in the Florida region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per sq.feet in Panama City Beach has fallen in the last 6 months. In September, the average price per sq.feet was $433. In the following month the price per sq.feet decreased to $410. In the following two months the price per sq.feet has barely changed, going from $421.5 to $420.5 per sq.feet. The price per sq.feet has decreased 91 % 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 $421 to $385 during January, and February.
Based upon to the price in Panama City Beach (cities), this has gone downing the last 6 months. The average price for September is $659,591. During October the price had a considerable reduction till $541,046. During the following two months (November, December) the price has had an average incrementation from $600,318.5 to $631,316.5. During the last two months the average price has had a strong fall compared to the previous four going from $615,817.5 to $512,464, which means a 83 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $520,829 they are 28 % more affordable than the average price for Panama City Beach. The properties with the highest average price have 4 bedrooms, Their price is 47 % more costly than the average. After that we have properties with 3 bedrooms priced at $562,302.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $339 / sq.feet, with an average $392 / sq.feet price in Panama City Beach. The properties with the highest average prices have 1 bedroom. They are 22 % more expensive than the average followed by properties with 2 bedrooms with a price at $413 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $520,829 it is 11 % cheaper than the average price in Panama City Beach. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Detached House" followed by "House". At a price of $726,203 it is 59 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $377 / sq.feet followed by "Detached House" priced at $390 / sq.feet. "Land" is the most costly type of property with a $429,208 / sq.feet cost followed by "Townhouse" with an average price of $423 / sq.feet.