Magnolia Bay Homes for Sale in Panama City Beach
A gated bayfront community on St. Andrews Bay, off Grandiflora Boulevard in Upper Grand Lagoon — a 10-story condo tower plus a cluster of single-family homes, in the same east-end pocket as Bay Point.
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Magnolia Bay Homes Currently for Sale
8 homes are currently for sale at Magnolia Bay, priced from $335,000 to $525,000.
Opportunity
Brokerage: Century 21 AllPoints Realty, licensed real estate broker.
About Magnolia Bay
Magnolia Bay (Magnolia Bay Club) sits at 2400 Grandiflora Blvd, zip 32408, on the north side of the Grand Lagoon — the Upper Grand Lagoon side, the same bayfront pocket as Bay Point and a short drive from Treasure Cove, Venture Out, and the Grand Lagoon area page. The community fronts St. Andrews Bay rather than the Gulf or a canal, and it's one of the few places in this corridor where a single gated entry covers both a condo tower and a street of detached homes.
That mix is the thing to understand before you search: the same Magnolia Bay Club name covers a 201-unit, 10-story bayfront condominium built in 2008 (one- to four-bedroom floor plans, roughly 1,250 to 1,920 square feet) and a separate, sold-out D.R. Horton single-family section of three- and four-bedroom homes in the 1,700 to 2,100 square foot range. MLS results for this community return both, at very different price points and with very different HOA structures.
St. Andrews Bay Waterfront, Built 2008
Magnolia Bay Club was built in 2008 and sits directly on St. Andrews Bay, with a sandy bay-front beach and dock/pier access — bay-front rather than Gulf-front or canal. The gated community includes a resort-style pool and a second heated pool, a fitness center, a clubhouse with a kitchen, a fishing pier, a community boat dock, a gazebo, grilling stations, a playground, and walking paths, with kayaks and paddleboards available to owners.
Because the bay here is protected water, the dock and pier see real use: sunset fishing, kayak launches, and small-boat access without the chop of the pass. It's a quieter, more residential setting than the Thomas Drive strip south of the bridge, which is a large part of why the association has kept short-term rentals out.
Condo Tower vs. Single-Family Homes
The condo tower is where nearly all of the resale activity is. Units run from one-bedroom plans near 1,250 square feet up to four-bedroom plans near 1,920 square feet, most with private balconies facing the bay. Condo dues cover the building, the amenity package, and the gated grounds, and vary meaningfully by unit — worth confirming for the specific listing, since the single-family side is billed on an entirely different structure and the two numbers shouldn't be compared directly.
The single-family section, built by D.R. Horton, is sold out and trades only as resales: three- and four-bedroom homes of roughly 1,700 to 2,100 square feet, on their own lots, sharing the gate and amenities. If a search under the Magnolia Bay name turns up a house in the $400,000s next to a condo in the $300,000s, that's why — they are two different products under one community name.
What to Know About Buying at Magnolia Bay
Start by deciding which side of the gate you're shopping — the condo tower and the single-family homes carry different dues, different insurance profiles, and different rules. On the condo side, confirm current association dues and exactly what they cover — they vary meaningfully by unit, so don't assume one listing's number applies to another — since dues drive affordability as much as the price does. Short-term rentals are not permitted per current listings, which makes this a primary-home and long-term-rental community rather than a vacation-rental play — a plus for owner-occupants, a dealbreaker for investors counting on nightly income. As with any bayfront property, get flood-zone and wind-insurance quotes early.