Cobia Bay
Homes for Sale in Mary Esther, FL
All 69 homes for sale in Mary Esther, FL · median $324,900 · 79 homes for sale in 32569 · Okaloosa County homes for sale
True comps, carrying-cost math, and listings before the portals.
Photo via Emerald Coast MLS
As of October 2026, Cobia Bay in Mary Esther, FL has 1 home for sale. As of October 2026, the MLS records 13 closed sales in Cobia Bay in Mary Esther, FL since 2012, the most recent in October 2025. Across Mary Esther as a whole, 145 homes closed in the last 12 months at a median of $319,900, 70 median days on market, with 70 homes for sale today. At that median and Okaloosa County's FY2025-26 rate of 12.89 mills, annual property tax runs about $4,130 ($3,620 with the full homestead exemption).
Cobia Bay is a small pocket in Mary Esther, and the data here is thin by design: one active listing and one recent closing. In a market this size, there is no such thing as an average — price is set home by home, driven by condition, lot, and how a given house sits relative to the water and the rest of Okaloosa County. Don't read a single closing as a trend line.
For a buyer, that means patience and flexibility: inventory can be zero one week and one house the next, so you move when something surfaces rather than shopping a menu. For a seller, the small sample cuts both ways — with almost no competing supply, a well-prepared home stands alone, but you're also pricing without a deep comp set to lean on.
Cobia Bay right now
🟢 Buyer-leaning market. 12.0 months of supply and 0% of the inventory already under contract give buyers above-average negotiating leverage.Why it matters: months of supply is how long today's inventory would last at today's sales pace; under-contract share is the portion of homes for sale that already have a buyer.Momentum Research analysis of Emerald Coast MLS records, as of September 20, 2026. Confidence: Low (1 active and pending listings, 1 closed sales in 12 months).
Jump to: Price history & scorecard · Homes for sale · Schools · FAQ
· Updated October 18, 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
Cobia Bay is a compact, low-volume community in Mary Esther; with just one active listing as of mid-2026, it trades quietly and rewards buyers who are watching rather than casually browsing.
Emerald Coast MLS sales records identify 8 homes in COBIA BAY that have changed hands since 2016, built between 2002 and 2004 (median 2002), with a median living area of about 2,181 sq ft and a typical 4-bedroom, 2-bath layout; 100% are single-family homes. Source: Emerald Coast MLS closed-sale history compiled by Momentum Research; counts reflect homes with a recorded MLS sale, not every home in the community.
County records show 4 qualified sales in COBIA BAY across 2024–2025 (3 in 2024, 1 in 2025), median $453,000 — the last recorded sale per parcel on the Florida DOR 2025 assessment roll, independent of the MLS.
Pre-construction details are compiled from public records, builder announcements and builder listings, and are subject to change without notice; figures are deemed reliable but not guaranteed. Momentum Research figures are our own analysis. This page describes homes, pricing and community attributes, not residents.
Who Cobia Bay is best for.
Best for
- Buyers who can wait for the right home and act quickly when one lists
- Sellers who benefit from low competing supply and are open to condition-driven pricing
- Buyers focused on the house and lot itself rather than shared community amenities
Probably not for
- Buyers who want several homes to compare side by side
- Buyers counting on a clubhouse, pool, or other shared amenities
- Sellers who need a deep set of recent comps to justify their price
The market around Cobia Bay
Cobia Bay is too small for its own price trend, so here is the market around it.
In ZIP 32569, 115 homes are on the market and 31% are under contract — a fast-moving corner of Mary Esther.
Across Okaloosa County, 1,890 homes are active and 551 pending (23% under contract).
In ZIP 32569 (Mary Esther), 304 homes closed in the last 12 months at a median of $325K ($218/sq ft), up 0.1% year over year, with a median 51 days on market. Right now 77 active and 41 pending listings put supply at about 3.9 months — a balanced market. See the live ZIP 32569 housing market and the Okaloosa County market.
ZIP and county figures describe the wider market, not Cobia Bay specifically. Momentum Research analysis of MLS records.
Homes For Sale Right Now in Cobia Bay
Live MLS inventory for Cobia Bay. 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 Cobia Bay listings as of 2026-10-17, 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
- Florosa · Elementary
- Bruner · Middle
- Fort Walton Beach · High
Zoned schools reflect the assignments reported on recent Cobia Bay 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 Cobia Bay address.
Shop the zone: Homes zoned for Fort Walton Beach High School
The Cobia Bay buying strategy.
If we were buying in Cobia Bay 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.
Use your leverage. With inventory sitting, there is room to negotiate on anything dated or overpriced and to ask for repairs or a rate buydown.
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 Cobia Bay.
A thin market by nature
There are no community amenities identified from the current MLS listings here, so nothing about a clubhouse, pool, or shared facility is carrying value. What you're buying is the individual house and its location in Mary Esther — the finish level, the lot, the condition — not a package of community features. Price it and shop it on those terms.
With one active listing and one closing in the recent window, this is a place where supply is genuinely scarce. That scarcity can work in a seller's favor when demand shows up, but it also means fewer data points and slower turnover. Neither buyer nor seller should assume the next transaction looks like the last one.
The location and the amenities are priced into every listing in Cobia Bay. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
A market this small doesn't forgive guesswork. We watch Cobia Bay and the surrounding Mary Esther corridor closely enough to tell you the moment a listing is worth acting on — and honest enough to tell you when a single comp isn't enough to price against. That local read matters more here than in any high-volume neighborhood.
Cobia Bay 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 Cobia Bay 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 Cobia Bay sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Cobia Bay, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Cobia Bay home worth?
Get a no-obligation home value based on real comparable sales in Cobia Bay, 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 Mary Esther →
| Location | Mary Esther, Okaloosa County, FL · ZIP 32569 |
|---|---|
| Homes in the community | 51 (FL DOR 2025 assessment roll) |
| Years built | 2001–2024 (median 2002) |
| Typical living area | 2,413 sq ft (median) |
| Amenities listed by sellers | Gated, Waterfront |
| For sale right now | 1 active, 0 pending · median asking $375,000 · 12.0 months of supply |
| Owner-occupied (homestead) share | 50% |
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, “Cobia Bay key facts,” movewithmomentum.com/neighborhoods/cobia-bay, data as of September 20, 2026.
Housing distress & ownership in COBIA BAY, Mary Esther
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.
Every Home for Sale in Cobia Bay Right Now (1)
All 1 active and pending Cobia Bay listings with a detail page, newest first, refreshed twice a day from the MLS.
- 272 Tecumseh Lane · $375,000 · 4 bd / 2 ba · listed Aug 24, 2026 · listed by EXP Realty LLC
More Mary Esther home searches
- All homes for sale in Mary Esther, FL
- Homes for sale in Okaloosa County, FL
- Mary Esther waterfront homes for sale
- Homes under $300K in Mary Esther
- Homes from $300K to $500K in Mary Esther
- 4-bedroom homes for sale in Mary Esther
- Mary Esther home values: what is my house worth?
- ZIP 32569 housing scorecard
- 2 coming-soon communities in Okaloosa County
The real cost & risk here
Before the list price, the Florida math the portals skip. These are Okaloosa 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 · Okaloosa 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.
Email me new listings in Cobia Bay
One e-mail a day, only when a home lists here, with price, beds, baths and a link to every listing. Straight from the MLS feed; no account needed.
Ask an agent about Cobia Bay
Have a question about the homes, fees, rules or commute here? A Momentum agent who works Cobia Bay will answer, and the answer is published on this page for the next buyer.
22% of homes for sale in ZIP 32569 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 (2026-10-16).
Recent Developments in Cobia Bay
Development, infrastructure, retail, and school activity affecting Cobia Bay, tracked by our team and summarized from public reporting and official sources, with links to the original coverage. Last updated October 2026.
- October 2026Parks & Amenities
Okaloosa and Cinco Bayou open upgraded boat ramp with new trailer parking
Okaloosa County and the Town of Cinco Bayou held a ribbon cutting for upgraded boat ramp facilities, including 16 new boat trailer parking spaces, a new restroom and landscaping. The $4.1 million total, funded largely by tourism development funds, also covers the $2.95 million purchase of a former bank building at 198 Eglin Parkway NE. Future dock improvements are planned.
What it may mean for the marketAdded trailer parking and ramp access improve waterfront recreation access for Fort Walton Beach area boaters. The project is about 7 miles west of Cobia Bay, elsewhere in Okaloosa County.
Source: Get The Coast - September 2026Civic
Okaloosa commissioners reject 12-month data center moratorium 3-2
Okaloosa County commissioners voted 3-2 on September 15 against a 12-month data center moratorium. On September 3 the board unanimously directed staff to develop a regulatory framework for data centers, with an outline due within 60 days. No specific project or site was proposed, and commissioners discussed protecting the Shoal River Industrial Park.
What it may mean for the marketThe pending rules will shape where large power-and-land-intensive facilities can locate in the county, including industrial land near Crestview. The project is about 25 miles north of Cobia Bay, elsewhere in Okaloosa County.
Source: Get The Coast - September 2026Parks & Amenities
Destin and Okaloosa County agree on management of 4-acre Holiday Isle state park
Destin and Okaloosa County unanimously agreed to back Destin as manager and developer of the roughly four-acre state-acquired park on Holiday Isle near Norriego Point. In return, Destin council voted 5-2 to offer free parking to all Okaloosa County residents at city-owned lots and parks. The deal still requires state Board of Trustees and DEP review.
What it may mean for the marketManagement of the Holiday Isle park and city parking rules will affect public waterfront access and parking in Destin. The site is less than a mile northwest of Cobia Bay.
Source: Get The Coast - 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 9 miles north of Cobia Bay.
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 27 miles north of Cobia Bay, 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 23 miles north of Cobia Bay, 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.
Frequently Asked Questions
Is Cobia Bay a buyer's or seller's market right now?
How many homes are in Cobia Bay?
What share of Cobia Bay is owner-occupied?
When were the homes in Cobia Bay built?
Who is the best real estate agent for Cobia Bay?
How do I find a top Mary Esther real estate agent who knows Cobia Bay?
Can Momentum Realty connect me with an agent for Cobia Bay?
Where is Cobia Bay, and what county is it in?
Should you buy in Cobia Bay?
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: October 17, 2026) |
| Housing stock & ownership | Florida DOR assessment roll (street-list match (1 streets, ZIP 32569)) |
| Under-contract shares | Emerald Coast MLS records, as of 2026-09-20 |
| Historical depth | Closed-sale records back to 2012 (13 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?
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 Emerald Coast MLS member average and 8 days faster, and we’ll price yours against live local comps.
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