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Archive for the ‘PCB Condo Market Update’ Category
Panama City Beach Condo 1st Quarter 2010 Market Trend
Monday, April 5th, 2010Panama City Beach Condo Sales Per Month
Monday, April 5th, 2010
Panama City Beach Condo Market 2009 in Review
Wednesday, January 6th, 2010Panama City Beach Condo Market 2009 in Review
An interesting thing about a prolonged down market, after three years everybody gets bored. Real estate agents have quit trying to convince the public that the bottom has been reached because every month they were proved wrong. Appraisers have been beaten up so bad for relaying the bad news; you can’t get one to admit he is an appraiser in public. Sellers have thrown in the towel. Buyers loiter about like hungry vultures. Welcome to the 2010 Panama City Beach condo market. For those who are still awake, the following is our summary of the local condo market as of the end of 2009. Unfortunately, it looks exactly like the end of 2008.
Panama City Beach Condo Market Update August 2009
Tuesday, September 15th, 2009Panama City Beach Condo Market Update August 2009
September 14, 2009
During the last 12 months we have seen a meltdown of the financial markets, the stock market tanked, and the housing market continued a steep decline. The Feds invested a significant amount of money to stop the free fall. The question on everyone’s mind is “have we begun to crawl out of the hole”.
Panama City Beach Condo Market 2007
Wednesday, January 14th, 2009Panama City Beach Condo Market 2007
From
January 2008
Panama City Beach Condo Prices Decline in 2007
Panama City Beach condo sale prices declined 10-12 percent in 2007 after a 10-15 percent decline in 2006 (see chart below). New issues have entered the markets that will exert downward pressure on existing condo sale prices during 2008.
October 2008 Panama City Beach Condo Market After the Ocean Reef Auction
Monday, October 27th, 2008Panama City Beach Condo Market Update after the Ocean Reef Auction
From www.Condosaletrends.com
October 2008
The Ocean Reef auction on October 18, 2008 concluded with a reported 35 sales. Sounds good but they still have over 140 unsold units in their inventory. The 2BR/2Ba units sold for $225,500, including the auction fee, which is about 20% less than recent sales of very similar Emerald Isle 2BR/2Ba units. This tells us that there are a few buyers out there willing to buy at a 20% discount. The Palazzo auction in August told us there were a few buyers out there willing to buy at a 10% discount. The question is whether buyers will demand more than a 20% discount at the next auction.
September 2008 Panama City Beach Condo Sales Plummet
Tuesday, September 16th, 2008Panama City Beach Condo Re-Sales Plummet
Sept 2008
Here at www.condosaletrends.com our only job is to take the data and present the trends so market participants can make informed investment decisions. So, no cheerleading, no anecdotal evidence. The data takes us to where the data takes us. We only track the sale of condo units within the 75 buildings along Thomas Drive and Front Beach Road (20,000 plus units) that are in our database. The analysis covers this particular segment of the market.
Panama City Beach Condo Market After the Palazzo Auction
Monday, August 25th, 2008Panama City Beach Condo Market Analysis
After The Palazzo Auction
From www.Condosaletrends.com
August 2008
The Palazzo condo building in Panama City Beach, Florida had a successful auction Saturday, August 2, 2008, with around 50 units selling. The Plazzo opened in early 2008 with 129 beach front condo units. As of August 1, 2008 61 preconstruction contracts had closed with 68 units remaining unsold. Some have heralded the event as an indication that the bottom of the condo real estate market is finally here. However, a closer analysis may have a much more sinister conclusion.
July 2008 Panama City Beach Condo Market Up0date
Tuesday, August 5th, 2008July 2008 Panama City Beach Condo Market Update
August 2008
We recently updated our Panama City Beach condo sales data through mid July 2008. The graph below illustrates the number of monthly re-sales from the 70 Panama City Beach condo buildings in our database. The 2008 monthly re-sales through June mirror the number of re-sales from the same period in 2007 even though there has been a substantial number of new units come on line.
June 2008 Panama City Beach Condo Market Update
Saturday, July 5th, 2008June 2008 Panama City Beach Condo Market Update
From Condosaletrends.com
June 2008
We recently updated our Panama City Beach condo sales data through mid June 2008. The graph below illustrates the number of monthly re-sales from the 70 Panama City Beach condo buildings in our database. The 2008 monthly re-sales through May mirror the number of re-sales from the same period in 2007 even though there has been a substantial number of new units come on line.