Panama City Beach Real Estate

Although some use “Panama City” mistakenly as an umbrella term to refer to Panama City Beach, they are actually two distinct municipalities. Unlike Panama City, which is a larger and older inland city, Panama City Beach is a resort destination with a population of approximately 12,600 (2015) that features 27 miles (43 kilometers) of amazing coastline along the Gulf of Mexico and boasts the slogan “The World’s Most Beautiful Beaches”.

The real estate boom between 2000 and 2005 caused the area’s image to change as old homes were replaced by multi-storey condos. As a result, unobstructed beach views became rare and seafront property increased its value outrageously. Prices were brought moderately under control with the real estate market plunge in 2007. On the brighter side, the real estate boom made Panama City Beach a favorite Spring Break destination.

Panama City Beach’s location makes it a perfect vacation spot in Northwest Florida. It is bordered by two State Parks – St. Andrews and Camp Helen. St. Andrews State Park is a former military reservation with hiking trails, sand dunes, forests, fishing piers, two campgrounds that make it a favored overnight destination, and a 1.5-mile (2.4-kilometer) beach that has been labeled the second beach in America and one of the best beaches in the world. Camp Helen State Park is smaller and for day use only. It offers activities like beachcombing, hiking, fishing, and nature study.

Scuba diving is also very popular in Panama City Beach. The many artificial reefs produced by the great amount of historic shipwrecks make the area a favorite wreck diving spot. In fact, the city is also known as Wreck Capital of the South. Some historic wrecks in the area are the “Empire Mica”, the “Grey Ghost”, the “Liberty Ship”, and the “Black Bart”.

Currently, the cost of living in Panama City Beach is 4% higher than the national average. About 59% of the population are homeowners and the median household income is $53,600. The median cost for a home is $216,800 and the median apartment rent per month is $1,400 (2017).

Featured Real Estate Agents and Agencies in Panama City Beach, FL: Lisa Ward, Brad Amerson - Beachy Beach Real Estate, Gary Dunn - Dunn Realty at Panama City Beach, Inc., Randall Fisher, Frieda Jenkins - Coastal Sun Realty, Tammy Bailey, Mary Bross - Pelican Real Estate.

For great vacation rentals, contact Sunspot Realty Vacation Rentals, Panhandle Beach Realty, LLC Sales & Rentals, or Counts-Oakes Resort Properties.

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