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Florida Home Sales
11/24/08 - 09:45 PM
WMBB News Department
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Bay County, Fla:

There’s good news and bad news for the housing market in the State of Florida.  While many areas saw large growth in the month of October, other areas saw their numbers decline compared to last year including Bay County.

Panama City’s housing market used to be one of the bright spots in the State.  While the State average was down, this area was up.  It seems that situation has flipped.

The Florida Association of Realtors’ latest report shows Panama City with a 23% change for the worst this October compared to home sales last October.  In 2007 101 homes sold compared to 78 this year.

It’s a similar picture for condos sales which dropped 21% in that same time period from 38 condos to 30.

Realtor Gwen Scott says those figures don’t tell the whole truth.

“For whatever reason, we don’t have the inventory like we have had for the past couple years in single family housing.  Actually some of the condos have dropped.  Just driving around, there’s not nearly as many for sale signs.  These are all good things,” Scott explains.

Scott says sellers who aren’t serious have dropped from the market, and those who are serious have lowered their prices.

Click here to compare more data from the Florida Association of Realtors.

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