Parkwood Estates Ph5
Homes for Sale in Niceville, FL
All 179 homes for sale in Niceville, FL · median $499,900 · 182 homes for sale in 32578 · Okaloosa County homes for sale
True comps, carrying-cost math, and listings before the portals.
Market Heat
Photo via Emerald Coast MLS
As of September 2026, Parkwood Estates Ph5 in Niceville, FL has 1 home for sale. Over the 12 months ending 2026-09-20, 5 recorded sales closed at a median of $542,500, a median 15 days on market, sellers accepting 95% of original asking (-9% versus the prior year). At the median price and Okaloosa County's FY2025-26 rate of 12.89 mills, annual property tax runs about $7,000 ($6,490 with the full homestead exemption).
| Location | Niceville, Okaloosa County, FL · ZIP 32578 |
|---|---|
| Homes in the community | 100 (FL DOR 2025 assessment roll) |
| Years built | 1992–2020 (median 1994.0) |
| Typical living area | 2,630 sq ft (median) |
| Sale prices, last 12 months | $542,500 median across 5 closed sales · -8.8% vs the prior 12 months |
| Days on market (closed sales) | 15 median |
| For sale right now | 1 active, 0 pending · median asking $649,000 |
| Owner-occupied (homestead) share | 80% |
Data as of September 20, 2026. Listing data provided by the Emerald Coast Association of REALTORS®. Information is deemed reliable but is not guaranteed by the MLS to be accurate; housing-stock figures from Florida Department of Revenue public records. Market figures describe homes, not residents. Cite as: Momentum Realty, “PARKWOOD ESTATES PH5 key facts,” movewithmomentum.com/neighborhoods/parkwood-estates-ph5, data as of September 20, 2026.
Price here is driven by the homes themselves, not by shared amenities. This is an established pocket where the median home was built in 1993 and runs a generous 2,664 square feet, so what you pay tracks condition, updates, and lot more than any community perk. With a median at $555,000 and no amenities identified in current listings, you are buying square footage and location, and the spread between an original-condition home and an updated one can be wide.
The current posture is tight and quick. Only 2 homes are active, and the median days on market sits at 4 — properly priced homes move fast. The year-over-year median is down 6.7%, so sellers should not anchor to last year's peak, and buyers should be ready to act but not overpay. High homestead occupancy, at 80.2%, means turnover is limited and inventory stays thin.
Parkwood Estates Ph5 right now
🔴 Off the recent peak. The trailing-12-month median ($542K) is down 8.8% from the prior 12 months ($595K). With about 4 sales a year, a single closing can swing this number, so read the level and the decade, not one year's move.Momentum Research, record-level Emerald Coast MLS closed sales, 12-month windows ending September 20. Confidence: Low (5 and 6 sales in the two windows).
Jump to: Price history & scorecard · Homes for sale · Schools · FAQ
· Updated September 27, 2026 · Live data: Emerald Coast MLS, refreshed twice daily · MLS facts carry their source; interpretation lines are Momentum Research · Data sources & freshness
The 60-Second Overview
Parkwood Estates Ph5 market snapshot (as of September 20, 2026): the median sale price is about $542K, and a median 15 days on market for closed sales. The trailing-12-month median is down 9% from the prior 12 months, computed from record-level Emerald Coast MLS closed sales (5 closings in the current window).
In ZIP 32578 (Niceville), 347 homes closed in the last 12 months at a median of $530K, down 4.2% year over year, with a median 43 days on market. Right now 66 active and 39 pending listings put supply at about 3.4 months — a healthy market. See the live ZIP 32578 housing market and the Okaloosa County market.
County records show 12 qualified sales in PARKWOOD ESTATES PH5 across 2024–2025 (4 in 2024, 8 in 2025), median $624,600 — the last recorded sale per parcel on the Florida DOR 2025 assessment roll, independent of the MLS.
Parkwood Estates Ph5 is a community of 100 homes in Niceville, Okaloosa County, built between 1992 and 2020 (median 1994.0), with a median living area of about 2,630 square feet. 80% of parcels are homesteaded, the owner-occupancy proxy in the Florida DOR assessment roll (2025 roll, public records).
PARKWOOD ESTATES PH5 is a small, established Niceville enclave of 116 homes built between 1991 and 2020, with most owners in as their primary residence. It trades on home size and condition rather than community features.
Who Parkwood Estates Ph5 is best for.
Best for
- Buyers prioritizing living space around 2,664 square feet over community amenities
- Primary-residence buyers comfortable moving fast when a home lists
- Renovation-minded buyers who can evaluate condition against the $555,000 median
Probably not for
- Buyers who want pools, gates, or shared amenities in their dues
- Buyers needing a wide selection, given only 2 active listings
- Sellers expecting last year's peak in a market down 6.7% year over year
Price History: What Homes Here Have Actually Sold For
Median sale price over the trailing 12 months ending September 20 of each year, from record-level Emerald Coast MLS closed sales. Same methodology as every appreciation figure on this page: the 2026 point ($542K) IS the median in the snapshot above, and the move from 2025 ($595K) IS the -8.8% one-year change.
Windows contain 1 to 6 sales each (5 in the current window); every figure carries its sample size, and thin markets swing on single closings. Listing data provided by the Emerald Coast Association of REALTORS®. Information is deemed reliable but is not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
31% of homes for sale in ZIP 32578 are already under contract (under contract ÷ under contract + active listings) — a read on how much of the available inventory buyers have already claimed. Source: MLS data (2026-09-27).
Parkwood Estates Ph5 Market Scorecard
Parkwood Estates Ph5 is currently a balanced market., a median asking price of $649,000.
Go deeper: ZIP market scorecard · county scorecard · true cost calculator · affordability calculator.
Live data: Emerald Coast MLS, refreshed twice daily. Market metrics only; these describe homes for sale and recent sales, not residents.
Housing distress & ownership in PARKWOOD ESTATES PH5, Niceville
Who owns here, how much is not owner-occupied, and how much for-sale inventory is under distress.
Source: Momentum Realty Research. Ownership & parcels from the FL DOR 2025 tax roll; distress from MLS active-listing status/remarks; price from MLS closed sales. Listing data provided by the Emerald Coast Association of REALTORS®. Information is deemed reliable but is not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
Homes For Sale Right Now in Parkwood Estates Ph5
Live MLS inventory for Parkwood Estates Ph5. Every active listing, what is under contract right now, and the last 12 months of closed sales, refreshed twice a day. Closed comps beat an algorithm's guess every time.
Active and pending Parkwood Estates Ph5 listings as of 2026-09-26, priced high to low. Listing data provided by the Emerald Coast Association of REALTORS®. Information is deemed reliable but is not guaranteed by the MLS to be accurate. Tap any home to ask about it.
Schools
- Okaloosa County Public Schools
- Verify the zoned schools by address
- Magnet and choice options may be available
- Bluewater · Elementary
- Ruckel · Middle
- Niceville · High
Zoned schools reflect the assignments reported on recent Parkwood Estates Ph5 listings and can change; always confirm with Okaloosa County Public Schools for a specific address.
Buying with schools in mind? We can confirm the exact zoned schools for any Parkwood Estates Ph5 address.
Shop the zone: Homes zoned for Niceville High School
Recent Developments in Parkwood Estates Ph5
Development, infrastructure, retail, and school activity affecting Parkwood Estates Ph5, tracked by our team and summarized from public reporting and official sources, with links to the original coverage. Last updated August 2026.
- June 2026Civic
DeSantis signs state budget with funding for Okaloosa County projects
Governor DeSantis signed the state budget that included roughly $15 million for 20 Okaloosa County projects, among them $5 million for the Northwest Florida State College Workforce Innovation Center in Niceville, $1.5 million for Shalimar Bridge Park, and $3 million for Destin road and drainage work. About $7.26 million in other local requests were vetoed.
What it may mean for the marketDirects state funding toward workforce, park, road, and drainage infrastructure across Okaloosa County, supporting public facilities and capacity in Niceville, Shalimar, and Destin. The site is about 4 miles east of Parkwood Estates Ph5.
Source: Get The Coast - May 2026Development
Okaloosa commissioners approve master plan for 392-lot River Park subdivision in Crestview
Okaloosa County commissioners unanimously approved the master plan for River Park, a 392 lot single family subdivision on 263 acres east of Main Drive and north of Airport Road in Crestview. The project by River Park Landing LLC will be built in three phases, with each phase requiring a separate development order approval.
What it may mean for the marketAdds substantial single family housing supply to the Crestview market and phases new residential construction onto a large tract in north Okaloosa County. The project is about 16 miles north of Parkwood Estates Ph5, elsewhere in Okaloosa County.
Source: Get The Coast - May 2026Infrastructure
Okaloosa County opens $212M Southwest Crestview Bypass
Okaloosa County opened the $212 million Southwest Crestview Bypass, a 3.5 mile four lane corridor connecting Antioch Road to State Road 85 with access from U.S. Highway 90. The project includes a 1,713 foot bridge, sidewalks, a multi use path, and direct access to the new Pineview K-8 school opening in August 2026.
What it may mean for the marketAdds a major four lane traffic corridor serving southwest Crestview and expands regional road capacity for surrounding growth in north Okaloosa County. The project is about 12 miles north of Parkwood Estates Ph5, elsewhere in Okaloosa County.
Source: Get The Coast
Summaries reflect public reporting and official sources linked above as of the dates shown. Project details, timelines, and approvals can change. Commentary on potential market effects is general observation, not investment advice or a prediction for any specific property. For the freshest items across the whole region, see This Week in Northeast Florida.
The Parkwood Estates Ph5 buying strategy.
If we were buying in Parkwood Estates Ph5 today, this is the order of operations we would run for our clients.
Underwrite the condition first. Price the roof, HVAC, and systems honestly before judging any list price; condition swings value here more than square footage alone.
Match the home to real comps. Recent sales of similar condition and lot, not the asking price, tell you what a home is worth.
Move deliberately, not desperately. Neither side has a decisive edge, so a well-prepared, fairly-priced offer wins without overpaying.
Line up financing and inspection early. A pre-approval and an inspection plan let you act fast and negotiate from evidence.
Keep an agent in your corner. The listing agent works for the seller; we represent you and prepare a hand-built valuation before any offer in Parkwood Estates Ph5.
An established enclave that trades on the house
With homes dating from 1991 to 2020 and a median build year of 1993, expect a mix of original and updated interiors within the same neighborhood. The median living area of roughly 2,664 square feet is substantial, which is a real draw for buyers who want room, but it also means the range of finish quality — and therefore price — is condition-driven. Diligence on updates, roofs, and systems matters more here than in a cookie-cutter build.
No amenities show up in the current MLS listings, so this is not a lifestyle-package community with pools or gates baked into dues. The appeal is the Niceville location in Okaloosa County and the size of the homes. With 80.2% of homes owner-occupied and only 2 active listings, choice is limited and the good ones do not sit — the 4-day median on market bears that out.
The location and the amenities are priced into every listing in Parkwood Estates Ph5. The deal is won or lost on condition, the comps, and the renovation math.
Momentum Buy Score.
Our proprietary 0 to 10 read across the factors that decide how a home in Parkwood Estates Ph5 buys, holds, and resells. Momentum Research; not an appraisal.
Momentum Intelligence Scores are our proprietary, qualitative assessment on a 0 to 10 scale, built from the record-level market data on this page. They are a framework for comparing communities, not a guarantee of future value and not advice on a specific home; unlike an automated value estimate they do not price your home, they grade the community on evidence you can inspect. Composite is the plain average of the 3 factors (6.2). Basis: Recent Direction -8.8% year-over-year; Owner Commitment 80% owner-occupied; Pricing Power 95.4% sale-to-list. Refreshed with each data update.
Why work with Momentum here
In a thin market with just 2 active listings and a 4-day median on market, timing and pricing discipline decide the outcome. We know this Niceville pocket, we read condition against the $555,000 median so you neither overpay nor underprice, and we help you move decisively when the right home lists — without chasing a softening market down.
Parkwood Estates Ph5 in 15 seconds.
HOA, CDD & Fees
- HOA status not on record. Verify any dues before you offer
- Any club/amenity membership is billed separately
Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.
Tools for a Parkwood Estates Ph5 buy.
Free calculators to pressure-test the real cost before you tour.
Selling here is won on condition and pricing to real comps, not an automated estimate. The right number comes from closed Parkwood Estates Ph5 sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Parkwood Estates Ph5, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Parkwood Estates Ph5 home worth?
Get a no-obligation home value based on real comparable sales in Parkwood Estates Ph5, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
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Frequently Asked Questions
What is the median home price in Parkwood Estates Ph5?
How long do homes in Parkwood Estates Ph5 take to sell?
How many homes are in Parkwood Estates Ph5?
What share of Parkwood Estates Ph5 is owner-occupied?
When were the homes in Parkwood Estates Ph5 built?
Who is the best real estate agent for Parkwood Estates Ph5?
How do I find a top Niceville real estate agent who knows Parkwood Estates Ph5?
Can Momentum Realty connect me with an agent for Parkwood Estates Ph5?
Where is Parkwood Estates Ph5, and what county is it in?
Is Parkwood Estates Ph5 a good place to live?
Should you buy in Parkwood Estates Ph5?
An honest fit check. We will tell you when it is not your community.
Data sources & freshness
| Live listings | Emerald Coast MLS, refreshed twice daily (last: September 26, 2026) |
| Community market stats | Emerald Coast MLS closed sales, 12-month windows ending September 20, 2026 |
| Housing stock & ownership | Florida DOR assessment roll (street-list match (5 streets, ZIP 32578)) |
| Under-contract shares | Emerald Coast MLS records, as of 2026-09-20 |
| Historical depth | Closed-sale records back to 1993 (80 transactions analyzed) |
Verify the primary sources yourself: Florida DOR · U.S. Census · FEMA flood maps · Citizens Property Insurance.
Momentum Research figures are our own analysis of Emerald Coast MLS records; MLS data is deemed reliable but not guaranteed. Methodology: how Momentum market scores are computed. Market metrics describe homes for sale and recent sales, not residents.
Own a home here?
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The numbers on this page move markets in the aggregate. The number that matters to you is what a buyer pays for your address. Momentum sells for 1.25% above the Emerald Coast MLS member average and 8 days faster, and we’ll price yours against live local comps.
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See how PARKWOOD ESTATES PH5 fits the bigger picture — live prices, inventory, and Momentum Scores:
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Explore more neighborhoods near Parkwood Estates Ph5 with Momentum Realty’s local guides.