Condition of the Condominium Market in Eastern Panama City Beach

Andre Berardi & Olivier Ducimetiere-Monod

For this newsletter, we have targeted 11 high-rise east end condominium complexes directly on the beach: Treasure Island, Seychelles, Regency Tower, Watercrest, Pelican Walk, Dunes of Panama, Sterling Beach, Summerhouse, Summer Winds, Princess, and Hidden Dunes.

Condition of the Condominium Market in Eastern Panama City Beach - data tableSeveral factors, or variables, go into the understanding of a real estate market. They include (1) the Median Sales Price, (2) the Range of Sales Prices between the lowest and the highest prices, (3) the total inventory available for sale, or number of condos listed for sale at a given time, (4) the number of days similar condos stay on the market before selling, and (5) the number of sales during a specified time frame. Today, our attention will be directed toward the number of sales having taken place monthly since January 2020. We will also look at the evolution of the Median price and Range of prices between 1/2020 and 7/2023. We will then draw conclusions regarding the health of your real estate investment.

Number of Sales

Between 4 and 27 condos have changed hands every month between 1/2020 and 7/2023. A typical month witnesses between 12 and 15 sales. The table to the right details the monthly number of sales. The graph below visualizes the table.

At first glance, the volume of business seems rather consistent, year after year, with five notable periods:

March and April 2020: the Covid months with state-mandated closures in Florida show poor results – 8 and 6 sales.

Condition of the Condominium Market in Eastern Panama City Beach - graph

From June 2020 and through 2021: a very busy time, especially during the months of March and April 2021 when the sales soared to 27 and 25 respectively. This was the peak of the Covid-induced remote working craze.

The first half of 2022 witnessed a busy market returning to a more normal and sustainable pattern.

Beginning in June 2022 (10 transactions), the number of sales began slowing down. This trend lasted for nine months until February 2023 (4 sales). This downturn was fueled by a limited inventory combined with increasing interest rates.

Since March 2023 until now, the number of sales has been oscillating between normal and strong, outperforming most of the previous years (except for the covid-driven activity of 2021) – a good omen for the future.

Median and Range

Since the onset of the decade, prices have gradually yet firmly increased. This trend is obvious looking at the graph below. The Median sales prices have climbed regularly from approximately $300,000 in January of 2020 to over $500,000.

A look at the golden curve of the cheapest sales confirms what the Median told us – that prices have increased regularly and healthily in the past three years. The red curve, showing the most expensive transactions, is ‘jumpier’, which is normal.

Therefore, the consistency of the numeric data is extremely comforting: no speculation, no market overheating, no haphazard ups-and-downs.


The number of sales, consistently high since March 2023, is evidence of the continued desirability of your condo. This busy activity also underscores that the pricing is sustainable despite two mitigating factors:

Condition of the Condominium Market in Eastern Panama City Beach - graph 2

The most expensive transactions are usually for penthouses and rarer products that do not fit in the box of most other transactions. They simply show that some buyers are willing to pay a strong premium to get the very best… and this varies greatly from one month to the next, depending on availability.

the high interest rates and the limited inventory for sale. The sales volume, coupled with the consistent and sustainable increase in value, point to an investment of rare quality. The data we studied are good indicators of a strong market with a prosperous future… and plenty of room to grow.

Andre Berardi

Andre Berardi, Realtor

Combining Experience, Passion, and Knowledge! A transplant from the Great White North, I acquired my first investment on the white sands of the emerald coast in 2017, and never looked back. The weather, southern hospitality, raw natural beauty, and freedoms… Read more about Andre

Mobile/Text: (315) 886-1752
Office Number: (850) 653-3333 ext. 7031

Olivier Ducimetiere-Monod

Olivier Ducimetiere-Monod, Broker

Olivier Ducimetiere-Monod first visited the “Forgotten Coast” in 1981 and relocated permanently in 1988, joining Anchor Realty & Mortgage Co. as a real estate sales associate. He became Anchor Realty & Mortgage Co.’s broker and president in June 1990, overseeing three… Read more about Olivier

Mobile/Text: (850) 899-7999
Office Number: (850) 653-3333 ext. 7010

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