Waterfall
Homes for Sale in Panama City Beach, FL
All 785 homes for sale in Panama City Beach, FL · median $369,000 · Bay County homes for sale
True comps, carrying-cost math, and listings before the portals.
Market Heat
Photo via CPAR MLS
Over the 12 months ending 2026-09-20, 7 recorded sales closed at a median of $295,000, a median 6 days on market, sellers accepting 96% of original asking (+0% versus the prior year). At the median price and Bay County's FY2025-26 rate of 12.28 mills, annual property tax runs about $3,620 ($3,140 with the full homestead exemption).
| Location | Panama City Beach, Bay County, FL · ZIP 32401, 32407, 32408 |
|---|---|
| Homes in the community | 56 (FL DOR 2025 assessment roll) |
| Years built | 2007–2019 (median 2018.0) |
| Typical living area | 2,270 sq ft (median) |
| Sale prices, last 12 months | $295,000 median across 7 closed sales · +0.0% vs the prior 12 months |
| Days on market (closed sales) | 6 median |
| For sale right now | 0 active, 0 pending |
| Owner-occupied (homestead) share | 50% |
Data as of September 20, 2026. Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but 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, “Waterfall key facts,” movewithmomentum.com/neighborhoods/waterfall, data as of September 20, 2026.
Last 30 days in Waterfall: 1 new listing (median asking $350,000). As of October 2, 2026, Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate.
Waterfall is a small, tightly built pocket of Panama City Beach, just 106 homes, with construction dating from 2007 through 2019 and a median year built of 2018. That newer build profile is the main price driver here, more than any single feature or amenity, since the MLS shows none formally attached to the community.
At a median price of $297,500 and a median days-on-market of just over 13, homes are moving quickly relative to typical coastal pacing, and the market heat score of 57 backs that up as a balanced-to-warm read. Year-over-year price movement has been essentially flat, up under one percent, so this reads as a market holding steady rather than one repricing sharply in either direction.
Waterfall right now
🟡 Still climbing. The trailing-12-month median ($295K) is up 0.0% from the prior 12 months ($295K). With about 18 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 CPAR MLS closed sales, 12-month windows ending September 20. Confidence: Medium (7 and 9 sales in the two windows).
Jump to: Price history & scorecard · Homes for sale · Schools · FAQ
· Updated October 2, 2026 · Live data: CPAR MLS, refreshed twice daily · MLS facts carry their source; interpretation lines are Momentum Research · Data sources & freshness
Nearby homes for sale
No active listings inside Waterfall right now. These are the 6 closest homes on the market, by straight-line distance from the community's center; some may sit just outside its boundary.
Listing data from the MLS feeds named on each listing page; deemed reliable but not guaranteed. Refreshed nightly.
The 60-Second Overview
Waterfall market snapshot (as of September 20, 2026): the median sale price is about $295K, and a median 6 days on market for closed sales. The trailing-12-month median is up 0% from the prior 12 months, computed from record-level CPAR MLS closed sales (7 closings in the current window).
In ZIP 32401 (Panama City Beach), 337 homes closed in the last 12 months at a median of $307K, up 0.5% year over year, with a median 62 days on market. Right now 166 active and 29 pending listings — a buyer's market. See the live ZIP 32401 housing market and the Bay County market.
County records show 9 qualified sales in Waterfall across 2024–2025 (6 in 2024, 3 in 2025), median $315,000 — the last recorded sale per parcel on the Florida DOR 2025 assessment roll, independent of the MLS.
Waterfall is a community of 56 homes in Panama City Beach, Bay County, built between 2007 and 2019 (median 2018.0), with a median living area of about 2,270 square feet. 50% of parcels are homesteaded, the owner-occupancy proxy in the Florida DOR assessment roll (2025 roll, public records).
Waterfall is a compact, newer-construction community in Panama City Beach, built out mostly in the 2010s, with homes averaging around 2,270 square feet of living space.
Who Waterfall is best for.
Best for
- Buyers focused on newer-construction homes built within the last two decades
- Buyers who want a straightforward purchase without weighing HOA amenity tiers
- Buyers comfortable moving decisively in a market with under two weeks of typical days-on-market
Probably not for
- Buyers who want an established resale market with a long closing history to benchmark against
- Buyers who need a formal amenity package, pools, clubhouses, or organized recreation, as part of the purchase
- Buyers wanting a large inventory pool to compare options within the same community
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 CPAR MLS closed sales. Same methodology as every appreciation figure on this page: the 2026 point ($295K) IS the median in the snapshot above, and the move from 2025 ($295K) IS the +0.0% one-year change.
Windows contain 0 to 43 sales each (7 in the current window); every figure carries its sample size, and thin markets swing on single closings. Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
The real cost & risk here
Before the list price, the Florida math the portals skip. These are Bay County typicals — your exact home, flood zone, and insurance quote will vary, so verify each before you offer.
Check it for your address: look up your flood zone (FEMA) · insurance by county · true-cost calculator · Bay County scorecard.
County typicals from Momentum’s Florida housing data (Zillow & Realtor.com aggregates, Census, FRED), updated monthly; insurance modeled. Flood zone is property-specific — always confirm via FEMA.
15% of homes for sale in ZIP 32407 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 (2026-10-01).
Waterfall Market Scorecard
Waterfall is currently a balanced market., and homes go under contract in about 0 days.
Go deeper: ZIP market scorecard · county scorecard · true cost calculator · affordability calculator.
Live data: CPAR MLS, refreshed twice daily. Market metrics only; these describe homes for sale and recent sales, not residents.
Housing distress & ownership in Waterfall, Panama City Beach
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 information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
Homes For Sale Right Now in Waterfall
Live MLS inventory for Waterfall. 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 Waterfall listings as of 2026-10-01, priced high to low. Listing information provided by the Central Panhandle Association of REALTORS®. Information is deemed reliable but not guaranteed by the MLS to be accurate. Tap any home to ask about it.
Every Home for Sale in Waterfall Right Now (1)
All 1 active and pending Waterfall listings with a detail page, newest first, refreshed twice a day from the MLS.
- 117 Fossil Falls, Panama City Beach, Fl 32407 · $350,000 · 3 bd / 3 ba · listed Sep 30, 2026 · listed by Counts Real Estate Group Inc
The Waterfall buying strategy.
If we were buying in Waterfall 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 Waterfall.
A newer build, a quiet listing sheet
With only 106 homes total and a build window concentrated between 2007 and 2019, Waterfall does not have the layered resale history of older Panama City Beach subdivisions. The median year built of 2018 tells you most of what is circulating on the market right now is closer to newer construction than older resale stock, which matters for financing, insurance underwriting, and maintenance expectations.
There is no formally identified community amenity package showing up in current MLS listings, so buyers should treat this as a housing-stock play rather than an amenity-driven purchase. The homestead share sits under half at 47.2 percent, worth noting as a data point on occupancy patterns without drawing conclusions about who lives there. With only four closings in the most recent window, pricing conclusions should be read as directional, not a wide statistical base.
The location and the amenities are priced into every listing in Waterfall. 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 Waterfall 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 (6.0). Basis: Recent Direction +0.0% year-over-year; Owner Commitment 50% owner-occupied; Pricing Power 95.7% sale-to-list. Refreshed with each data update.
Why work with Momentum here
In a community this size, with a thin closings window and no formal amenity data to lean on, the details of individual listings, build year, square footage, condition, carry more weight than broad neighborhood averages. We track those specifics closing by closing so pricing conversations are grounded in what is actually transacting, not assumptions.
Waterfall in 15 seconds.
HOA, CDD & Fees
- HOA dues reported around $285/month (about $3,420/yr) · median of 7 MLS listings, most billed monthly
- Any club/amenity membership is billed separately
Listings in this community report association dues of about $285 per month ($3,420 a year) — the median AssociationFee across 7 MLS records, normalised to a monthly figure; most are billed monthly. Dues change with budgets and can differ by section or product type; confirm the current figure with the association before you offer. Source: MLS listing records, 2026-10.
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 Waterfall 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 Waterfall sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Waterfall, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Waterfall home worth?
Get a no-obligation home value based on real comparable sales in Waterfall, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
See all homes for sale in Panama City Beach →
Recently off market in Waterfall
Homes in Waterfall that recently left the market. Each address opens its public-record profile: county-recorded value, property taxes, the last recorded sale, community sales history, and what is for sale nearby now. 3 on record.
- 105 Grand Falls Lane · off market
- 111 Fossil Falls · off market
- 113 Enchantment Falls Lane · off market
Frequently Asked Questions
What is the median home price in Waterfall?
How long do homes in Waterfall take to sell?
How many homes are in Waterfall?
What share of Waterfall is owner-occupied?
When were the homes in Waterfall built?
Who is the best real estate agent for Waterfall?
How do I find a top Panama City Beach real estate agent who knows Waterfall?
Can Momentum Realty connect me with an agent for Waterfall?
Where is Waterfall, and what county is it in?
Is Waterfall a good place to live?
Should you buy in Waterfall?
An honest fit check. We will tell you when it is not your community.
Data sources & freshness
| Live listings | CPAR MLS, refreshed twice daily (last: October 1, 2026) |
| Community market stats | CPAR MLS closed sales, 12-month windows ending September 20, 2026 |
| Housing stock & ownership | Florida DOR assessment roll (street-list match (4 streets, ZIP 32401/32407/32408)) |
| Under-contract shares | CPAR MLS records, as of 2026-09-20 |
| Historical depth | Closed-sale records back to 2012 (177 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 CPAR 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?
You just read the data. Now see what your home is worth.
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 CPAR MLS member average and 8 days faster, and we’ll price yours against live local comps.
Looking to buy here? Search homes for sale →
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A real valuation with real comps from a local listing agent, not an instant algorithm. Response within one business day.
See how Waterfall fits the bigger picture — live prices, inventory, and Momentum Scores:
More on Waterfall
- Home values · What homes in Waterfall actually sell for
Nearby Communities
Explore more neighborhoods near Waterfall with Momentum Realty’s local guides.