The latest postings of the June 2010,  Panama City real estate market summaries are now available for download.

Panama City Beach condo sales increased slightly while prices dropped a bit during June month. This is obviously good news for buyers wanting to purchase vacation condo on the gulf.

Prices on single family home prices increased slightly while sales volume dipped.

We also continue to experience higher than normal volumes of visitors to the Panama City real estate website, as well as higher than normal rental inquiries.

Have other areas been affect by oil spills?

Yes – Santa Barbara, California.

Those of you concerned over the Gulf of Mexico Oil Spill, may want to read about the Santa Barbara, California oil spill in the late 60’s:

On the afternoon of January 29, 1969, an environmental nightmare began in Santa Barbara, California. A Union Oil Co. platform stationed six miles off the coast of Summerland suffered a blowout.

Oil workers had drilled a well down 3500 feet below the ocean floor. Riggers began to retrieve the pipe in order to replace a drill bit when the “mud” used to maintain pressure became dangerously low. A natural gas blowout occurred.

An initial attempt to cap the hole was successful but led to a tremendous buildup of pressure. The expanding mass created five breaks in an east-west fault on the ocean floor, releasing oil and gas from deep beneath the earth.

While the oil spill was devastating to the area immediately, the areas real estate market bounced back significantly.  So much so, that it was one of the leading causes of property value increases following the clean up.  You can read more about the spill here.

Owners, put my technology to work for you.  If you are interested in selling your home or condo, contact me today (850) 774-6582 for a free no obligation Home value report.

Buyers, when you’re ready to purchase a Panama City Beach Gulf or Bay front condo for your vacation home, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City Beach homes sale.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

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