Market Conditions: Florida Panhandle

Written by Posted On Monday, 31 March 2008 17:00

Patricia Wheeler has good and bad news about the Florida Panhandle real estate market.

The condo market took a 27 percent drop in sales for the 4th quarter of 2007, she says, but Panama City Beach's condo market is rated number four in the state.

The average price for single-family residences in this area for the first quarter of 2008 is around $237,000, which is a slight dip from the end of 2007.

And average days on the market are around 144, which means sellers are probably ready to deal, Wheeler says.

The really good news for the area is that lots of corporate money is being invested in Panama City and Bay County.

And the flood of foreclosures on the market is sure to draw in investors, which means now is the time to buy.

Wheeler says that, as the supply begins to diminish, the market is sure to swing the other direction.

But right now, this area has plenty to offer -- from condo living to the tranquility of a home on the beach -- there are lots of home buying opportunities.

And now here's a look at other markets across the nation.

For more information, contact Patricia Wheeler at:
www.DirectRealtyofBayCo.com .

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