How hot is the Panama City-area real estate market? Home sale prices rise to $310,000

The median sales price for a single-family home sold in Bay County during April was $310,000. That's an increase of 15.7% compared with April 2021, according to a USA TODAY Network localized analysis generated with data from Realtor.com.

On a year-over-year basis, prices have been rising for 19 consecutive months. April prices are down from $315,000 the previous month.

The number of houses sold fell by 2.5% from a year earlier. A total of 271 houses were sold countywide during April. During the same period a year earlier, 278 single-family homes were sold.

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Real estate sales can take weeks or months to be recorded and collected. This is the latest data made available through Realtor.com to the USA TODAY Network.

Bay County condominiums and townhomes sold in April had a median sales price of $363,000. That figure represents a 32% increase year over year. Some 182 were sold, down 18.8% from a year earlier.

How hot is Bay County's real estate market in Florida?

Information on your local housing markets is available through the USA TODAY Network, with more data from Realtor.com.

In Bay County the top 10% of the properties sold for at least $625,000, up 19.1% from a year before.

In April, 12 properties sold for at least $1 million, consisting of eight single-family homes and four condominiums or townhomes.

Florida's median single-family home sales price was $400,000 in April, up 21.2% from a year earlier. The state reported 26,149 single-family homes sold, down 16.4% from a year earlier.

The median home sale price — the midway point of all the houses or units sold over a period of time — is used in this report instead of the average home sale price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes sold are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.

The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Localized versions are generated for communities where the data quality and transaction volume meets Realtor.com and USA TODAY Network standards. The story was written by Sean Lahman.

This article originally appeared on The News Herald: Real estate: Bay County, Florida average home sale prices rise in 2022

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