Panama City Beach is located in Bay County Florida along the Gulf of Mexico and home to roughly 12,000 year round residents. It’s often referred to as simply “Panama City” even though it is distinctly different from the older and larger Panama City to the east. Our logo is “the world’s most beautiful beach” and because of our sugary sandy beaches, this is a popular vacation destination for Floridians, Americans, and international tourists alike. We are one of the most popular spring break destinations and have often been referred to as the “spring break capital of the world”. With over 100,000 college and high school students visiting our area each year, Panama City Beach has proven itself as one of the top vacation, resort, and beach destinations in the US.
Panama City Beach used to be full of older homes, motels and a few low-rise condominiums but during the mid-2000s, more expensive homes replaced older structures and high-rise, luxury condominiums took the place of many older motels and low-rise apartment buildings. In 2006, CNN and Money magazine named Panama City Beach the #1 real estate market in America and during that time beachfront property sold for upwards of $60,000 per front foot or linear foot. Because we all were affected by the real estate market downturn in 2007, our new condo construction has balanced out the real estate boom and today we are one of the top vacation destinations and resort real estate markets in the southern states of the US.
There are numerous events, activities, festivals and year-round entertainment options here in Panama City Beach. We have our famous shopping mall, Pier Park, which opened in 2008 providing dozens of shopping options, fine dining, casual bistros, amusement rides, and nightly entertainment. It truly is one of the best hotspots in Panama City Beach.
Other famous hotspots include the Tiki bar at the Sandpiper Beacon, the Spinnaker Beach Club, Sharkey’s Tiki bar, Pineapple Willies and the famous Coyote Ugly Saloon. When you’ve had enough of sun, surf and sand, relax in one of these amazing nightly hot spots for some delicious shrimp tacos, chicken skewers, lamb sliders, or a big bucket of clams.
Panama City Beach Real Estate
If you choose to make Panama City Beach your permanent destination there are plenty of real estate options either as a second home or vacation property or as your primary, year-round residents. Due to the nature of our real estate, most homebuyers choose a condominium either on the waterfront or with waterfront access. Even though most of Panama City Beach is covered by condominiums there are some beautiful waterfront homes and the states found in this luxurious location. Whether it’s a beach house, bayfront house, or oceanfront property, there are numerous homes and condominiums to choose from. There are a variety of waterfront properties whether it’s up against the lagoon, the ocean or the bay. Lagoon homes start at about $450,000 and can reach as high as $2.5 million. Homes along the Gulf of Mexico start at about $500,000 and can be easily reach a high of $5 million depending on size, condition and location. There are smaller homes along the bay that start at about $100,000 and stretch to about $1 million depending on size and condition. There are even lakefront homes in Kings Point, Lake Marin and Laguna Beach Estates that start at about $200,000.
Condominiums and penthouse units offer a variety of choices from 1 to 4 bedrooms, oceanview or Bayview properties, loads of amenities or a very simple apartment complex. Prices start less than $200,000 and can easily reach as high as 5 million for Penthouse condominiums on high-rise luxury buildings overlooking the Gulf of Mexico.
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