Panama City Predicted to Have Third Best Appreciation in the U.S. Thru 2017

Panama City Beach Real Estate MarketThe Panama City / Lynn Haven metro area is projected to have an annualized appreciation growth from the third quarter 2012 – third quarter 2017 of 9.1 percent. This is third in the nation behind only Santa Fe and Medford, Oregon. Panama City has been included in various top 10 lists since November 2006.

Now may be the best time ever to buy as prices on many properties are equivalent to values from 2002 and even earlier. We have definitely turned a corner and bottom feeders need to act fast. Inventory is dramatically reduced from the 2006-2012 period and well-priced properties are selling in days, often with multiple offers.

During the period thru third quarter 2017 home prices nationally are expected to rise an average of 3.3 percent and .06 over the next year according to a report by Fiserv Case-Shiller. They ranked the top 15 cities by the projected annualized change in home prices between the third quarter of 2012 and the third quarter of 2017. Panama City is projected to beat the average by a whopping 5.8 percent!

Here are articles from 2006 – 2013 that show Panama City performing in the top tier of markets in the U.S.

15 Best housing Markets for the Next 5 Years – AOL Real Estate from May 2013

Top 15 Housing Markets – The Blaze from May 9, 2012

15 Best Housing Markets for the Next Five Years – Yahoo Finance from Nov. 2012 

Best and Worst Housing Markets in the Next 5 Years – MSN Real Estate – December 3, 2012

Top 10 Cities – Where to Buy Now – CNN Money from November 2006

Below is a chart showing annual home price appreciation rates from forecast-chart.com for Panama City / Lynn Haven (excluding Panama City Beach). Panama City Beach would show much higher increases (and decreases).

Appreciation 1989-2012

 

Real Estate Appreciation, Rank & Percentile

Last Quarter 0.21%        Rank: 224 of 381 (41st Percentile)

Last Year   -0.2%             Rank: 222 of 381 (41st Percentile)

Last 5 Years  -30%          Rank: 330 of 381 (13th Percentile)

Last 10 Years  19%         Rank: 176 of 381 (53rd Percentile)

Last 20 Years  96%         Rank: 91 of 368 (75th Percentile)

Decline From All Time High        34.37%

On Panama City Beach there are still opportunities where prices are down as much as 70% from the 2007 highs. Call 850.814.5557, click the “Need Help” button, or fill out a “Request More Info” form to the right if you would like us to email you a list of the best buys in homes, condos, land, and commercial properties in your preferred neighborhood or price range.

Panama City Predicted to Have Third Best Appreciation in the U.S. Thru 2017 was last modified: May 23rd, 2013 by Dawn Dunlap

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