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Panama City Beach Homes - Shopping for Panama City Beach Homes - Less than $100,000

condos price lot range

Looking at Panama City Beach homes is quite a big job. There are so many different types of homes there, but understanding a bit about the real estate market in Panama City Beach can really help out a lot. The first thing that should be understood is the nature of housing in Panama City Beach. A housing boom several years ago brought a huge influx of high rise condos and other tall buildings to the area, so the few Panama City Beach homes that actually sit right on the water are now extremely expensive because they have become a rarity. Also the greatest majority of Panama City Beach Homes are standard home sales, with only a handful of newly constructed homes sold.

The average price for a home in Panama City Beach is right around $235,000, although that price does vary quite a bit. The average price for a small empty lot to build a new home on is $50,000. Let’s take a look at what home buyers can expect to find in various price ranges of Panama City Beach Homes.

Less than $100,000

Home buyers who do not have a lot of money to spend on Panama City Beach Homes may be looking to spend less than $100,000. However, they will have a difficult time finding a home for this price. Double-wide trailer homes start out at $50,000 and go up from there. Condos start out around $65,000 and make up most of the available properties up to the $90,000 range, where some smaller homes of around 1200 square feet start getting into the picture. There are also some major fixer uppers that are available in the $90,000 price range that offer a lot of space but require a lot of work.

$100,000 to $200,000

Once we hit $100,000, some of the higher end condos start coming into the picture. In fact, there are some extremely nice condos for right around $100,000, so if you have that much money to spend, it is not a bad idea to look at condos. Most of the homes that sell around $100,000 are pretty old and rundown. The situation is pretty much the same right up to $200,000, with mostly condos and rundown homes in the $100,000 range.

$200,000 and Up

Starting at $200,000, the greatest majority of properties are still very high end condos, although the single family home offerings begin to get into the standard range of three bedrooms and two bathrooms. Empty beachfront property sells for several million dollars just for a small piece of it. If you are lucky enough to be able to afford a beachfront single family home, expect to pay in the millions of dollars, even as much as $6 million. In general, the closer the property is to the water, the more money it will cost. There are no truly bad neighborhoods in Panama City Beach, so everything is scaled according to distance from the Gulf.

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