The housing market in Panama, NY is booming. The median value of a house in the area is only $157,000, significantly lower than the US average of $338,100. However, Panama has seen considerably higher appreciation over the last year with a figure of 12.09%, compared to 8.27% for the entire country. This strong appreciation indicates an active and vibrant real estate market with many buyers eager to invest in Panama's affordable homes.
The median home cost in Panama is $157,000. Home appreciation the last 10 years has been 64.5%. Home Appreciation in Panama is up 14.6%.
Average Age of Homes
- The median age of Panama real estate is 76 years old
The Rental Market in Panama
- Renters make up 24.8% of the Panama population
- 3.4% of houses and apartments in Panama, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.