Panama City Beach listed as one of the hottest vacation condo markets in the US

Many buyers are turning to their cheaper, often-overlooked cousins: condominiums and townhouses, as move-in ready single-family homes have hit record-high prices—and record-low availabilities. People who could work from anywhere relocated across the nation or bought a second house to enjoy on vacations near the beach or the ski slopes, and sales of these units have soared in the last year. According to a Realtor.com® review of home sales data, there were twice as many condominiums sold nationwide in May 2021 than there were in May 2020.