Things are slowing down a bit after the best summer that the Panama City real estate market has had in years. Here are some fast facts for the last two months:
August: 166 houses sold at a median price of $145,000, average “dollars per square foot” of $89, and 124 days on the market.
September: 135 houses sold at a median price of $175,000, average “dollars per square foot” of $96, and 137 days on the market.
We ended September with 1352 houses on the market, which equates to 10 months worth of inventory.
Foreclosure cases continue to be filed at an astounding pace, with 244 in August and 179 in September. This indicates that a wave of distressed inventory may be crashing over us in 2013.
If you have a house that you need to sell fast, I can help! I buy houses, pretty or ugly, and have been buying houses in Bay County since 1989. I can give you a quick cash sale and take your house in any condition. Call me at 850-763-7355 and get that house sold!