This post originally appeared on PanamaBeachRealty.com’s blog. For more information about real estate in Panama City Beach, current market conditions, and other things happening in real estate locally, you should check it out.
Each month we hear stories about how the real estate market in Panama City Beach is bottoming. We are continually told that it is ready to bounce back at any time. How much longer are we going to listen to this while watching prices drop quarter after quarter? Potential buyers should not be focusing on the overall market. They should instead be looking at the specific condominiums they are interested in. On the whole, the real estate condominium market in Panama City Beach continues to fall. The average price per square foot of a 700 square foot or larger gulf front one-bedroom condo has dropped another $18 per square foot during the first quarter of 2011. These dropping rates do not indicate that the market, as a whole, is bottoming. A large number of floor plans and buildings across the beach are showing no signs whatsoever of bottoming.
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