Condo sales volume this year remains sluggish, trailing 29% below 2024’s 20-year record low. Average condo prices have declined by 6.5% compared to 2024’s annual average, with an even steeper drop of 16% when measured against Q1 2024. A deeper analysis reveals a significant split.  Condos built before and after 1990 show a much wider price gap.

We are examining the 2025 Panama City Beach, Florida, Condominium Association Dues, with an ongoing expansion of the condominiums under review.

Condominium Master Insurance Policy premiums in Panama City Beach have decreased for many condo associations this year. Many buildings are experiencing reductions for the second consecutive year. However, premiums are still notably higher than 2021 levels. More private insurance carriers reentered Florida’s Master Policy Insurance Market for condo associations in 2024. They were likely drawn by premiums that offered an attractive risk-reward balance. This increased competition has contributed to lower premiums.

Sales volume this year is off to an even slower start than last year’s historic low, lagging an additional 31% below 2024.  Despite this, average prices are holding steady.  It’s still too soon to determine if this signals a broader trend.  Similarly, while it’s premature to predict rental performance for 2025, there’s no indication of improvement compared to last year.  Many associations have budgeted for increased overall expenses in 2025.  Rising building costs were somewhat mitigated by a significant drop in insurance rates.  Though insurance costs remain well above levels from five years ago, they are coming in lower than many associations had expected when planning their 2025 budgets.