Colony Estates
Homes for Sale in Fort Walton Beach, FL
All 380 homes for sale in Fort Walton Beach, FL · median $399,950 · 124 homes for sale in 32547 · Okaloosa County homes for sale
True comps, carrying-cost math, and listings before the portals.
Photo via Emerald Coast MLS
As of November 2026, Colony Estates 3RD Addn in Fort Walton Beach, FL has 1 home for sale. Homes listed or recently sold were built 1965–2000; none of the 5 geocoded homes sit in a FEMA special flood hazard zone (median elevation 18 ft).
Colony Estates 3rd Addn is an older, established pocket of Fort Walton Beach, with a housing stock that spans from 1955 to 2023 and a median build year of 1965. That age spread is the story here: in a neighborhood this seasoned, price is driven far more by condition and updating than by square footage or address. A renovated home and a dated one on the same street can be worlds apart on value, and there is no community amenity layer padding the equation.
With just one active listing against 285 homes and only two closings in the recent window, this is a thin, low-turnover market. For sellers, that scarcity can work in your favor if your home shows well. For buyers, it means patience — inventory trickles out, and when a well-kept or updated home lands, you should be ready to move rather than wait for the next one.
Figures in this note are as of July 25, 2026. The live market numbers elsewhere on this page update nightly and are newer.
Colony Estates right now
🟡 Balanced market. 3.0 months of supply and 0% of the inventory already under contract put buyers and sellers on roughly even footing.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 November 9, 2026. Confidence: Low (1 active and pending listings, 0 closed sales in 12 months).
Jump to: Price history & scorecard · Homes for sale · Schools · FAQ
· Updated November 12, 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
This is a mature Fort Walton Beach neighborhood of roughly 285 homes with a median size near 1,977 square feet and a homestead share just over 60 percent, pointing to a stable, owner-occupied core rather than a rental-heavy or transient one.
Emerald Coast MLS sales records identify 131 homes in COLONY ESTATES that have changed hands since 2001, built between 1960 and 2008 (median 1964), with a median living area of about 1,796 sq ft and a typical 3-bedroom, 2-bath layout; 99% 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 19 qualified sales in COLONY ESTATES across 2024–2025 (9 in 2024, 10 in 2025), median $359,000 — 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.
The setting & the homes.
Aerial and on-site photos of Colony Estates. Swipe to explore the community.
Swipe or use the arrows → tap any photo to enlarge
Colony Estates
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Colony EstatesPhotos from Emerald Coast MLS listings in Colony Estates; content deemed reliable but not guaranteed.
Who Colony Estates is best for.
Best for
- Buyers comfortable with mid-century homes who will budget for updates and inspect systems closely
- Long-hold owner-occupants who value a stable, low-turnover neighborhood over amenities
- Renovation-minded buyers watching for the occasional updated or rebuilt home to come to market
Probably not for
- Buyers who need a large, new-construction floor plan available on a fixed timeline
- Anyone wanting community amenities like a pool, gate, or clubhouse
- Investors expecting fast turnover or a steady stream of listings to choose from
The market around Colony Estates
Colony Estates is too small for its own price trend, so here is the market around it.
In ZIP 32547, 149 homes are on the market and 19% are under contract — a steady corner of Fort Walton Beach.
Across Okaloosa County, 1,691 homes are active and 403 pending (19% under contract).
In ZIP 32547 (Fort Walton Beach), 65 homes closed in the last 12 months at a median of $325K, up 10.3% year over year, with a median 29 days on market. Right now 23 active and 8 pending listings put supply at about 4.2 months — a balanced market. See the live ZIP 32547 housing market and the Okaloosa County market.
ZIP and county figures describe the wider market, not Colony Estates specifically. Momentum Research analysis of MLS records.
Homes For Sale Right Now in Colony Estates
Live MLS inventory for Colony Estates. 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 Colony Estates listings as of 2026-11-11, 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.
Colony Estates on the map.
Every active, pending, and recently sold home, plotted. Toggle the layers and tap a home for the details.
Listing locations from Emerald Coast MLS. Map data © OpenStreetMap contributors.
Schools
- Okaloosa County Public Schools
- Verify the zoned schools by address
- Magnet and choice options may be available
- Wright · Elementary
- Pryor · Middle
- Choctawhatchee · High
Zoned schools reflect the assignments reported on recent Colony Estates 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 Colony Estates address.
Shop the zone: Homes zoned for Choctawhatchee High School
The Colony Estates buying strategy.
If we were buying in Colony Estates 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 Colony Estates.
Age, condition, and a thin market
The build range from 1955 to 2023 tells you two things. Most of the neighborhood is genuinely mid-century, with a median build year of 1965, so expect original-era construction unless a home has been reworked. A handful of newer builds exist at the top of the range, which means teardown-and-rebuild and heavy renovation have both happened here. For a buyer, the practical work is diligence: roof age, systems, and prior updates matter more than the listing photos suggest.
No community amenities were identified from current MLS listings, so you are buying the home and the location, not a pool or gate. With a median living area close to 1,977 square feet, floor plans here tend toward everyday, usable size rather than sprawling. The homestead share above 60 percent supports the read that this is a lived-in, hold-it neighborhood rather than an investor churn.
The location and the amenities are priced into every listing in Colony Estates. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
In a low-inventory neighborhood where condition sets the price, the wrong assumption costs real money on both sides. We help buyers read the difference between an updated home and a cosmetic refresh, and we help sellers position a well-kept property to stand out when so little comes to market. Local knowledge of Fort Walton Beach and Okaloosa County closings is the edge when comparable sales are scarce.
Colony Estates in 15 seconds.
Tools for a Colony Estates 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 Colony Estates sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Colony Estates, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Colony Estates home worth?
Get a no-obligation home value based on real comparable sales in Colony Estates, 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 Fort Walton Beach →
Recently off market in COLONY ESTATES 3RD ADDN
Homes in COLONY ESTATES 3RD ADDN 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. 2 on record.
- 702 Mayflower Avenue · off market
- 737 Revere Avenue · off market
| Location | Fort Walton Beach, Okaloosa County, FL · ZIP 32547 |
|---|---|
| Homes in the community | 285 (FL DOR 2025 assessment roll) |
| Years built | 1955–2023 (median 1965) |
| Typical living area | 1,977 sq ft (median) |
| Home types (current listings and sales) | detached single family 100% |
| For sale right now | 1 active, 0 pending · median asking $399,900 · 3.0 months of supply |
| Owner-occupied (homestead) share | 61% |
Data as of November 9, 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, “Colony Estates key facts,” movewithmomentum.com/neighborhoods/colony-estates-3rd-addn, data as of November 9, 2026.
Housing distress & ownership in COLONY ESTATES 3RD ADDN, Fort Walton 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 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 Colony Estates 3Rd Addn Right Now (1)
All 1 active and pending Colony Estates 3Rd Addn listings with a detail page, newest first, refreshed twice a day from the MLS.
- 316 Priscilla Drive · $399,900 · 4 bd / 3 ba · listed Sep 3, 2026 · listed by World Impact Real Estate
Recently sold in Colony Estates 3Rd Addn
- 702 Mayflower Avenue · sold $300,000
- 737 Revere Avenue · sold $433,500
- 316 Priscilla Drive · sold $192,000
Closed sales from the MLS; each page shows the sold price, taxes and value history.
More Fort Walton Beach home searches
- All homes for sale in Fort Walton Beach, FL
- Homes for sale in Okaloosa County, FL
- Fort Walton Beach pool homes for sale
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- Fort Walton Beach home values: what is my house worth?
- ZIP 32547 housing scorecard
Fort Walton Beach guides & data
- Market data
- Property taxes (Okaloosa County)
- Homestead exemption (Okaloosa County)
- Home insurance cost
- New construction
- New construction (Okaloosa County)
- ZIP codes
- Home builders (Okaloosa County)
Florida buyer guides
- Florida home insurance rates by county
- Florida property tax by county
- Florida property tax calculator
- What flood zone X means
- The 4-point inspection, explained
- Florida flood insurance calculator
- Florida housing market map
- Interactive housing market map (county, ZIP and community)
- Save Our Homes tax estimator
- How to stop a foreclosure in Florida
- Florida documentary stamp tax, explained
- Cheapest places to live in Florida
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Streets in this community
Street-level pages: every home on record, what sold and what is for sale on each street.
- Pocahontas Drive (14 homes on record)
- Pocahontas Drive (1 homes on record)
- Pocahontas Drive (1 homes on record)
What it really costs to own in Colony Estates
The parts of the monthly number a mortgage calculator leaves out, from the tax roll, the MLS, Citizens and FEMA. Property facts only.
| Property tax | Current owners' bills run a median of $2,276/yr across 4 listings here (MLS tax records, 2026-11-12). |
|---|---|
| Home and flood insurance | The average Citizens Property Insurance premium in Okaloosa County is $2,644/yr (1,101 policies, Citizens detail by county, April 2026); private-market quotes depend on roof age, wind mitigation and construction. |
| Roof and age | Median build year 1968 across 4 listings. An original roof here would be about 58 years old; under Florida's 2022 reform (SB 2-D) carriers may require an inspection past 15 years, so budget for a roof report, and for replacement where it fails. |
Email me new listings in Colony Estates
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 Colony Estates
Have a question about the homes, fees, rules or commute here? A Momentum agent who works Colony Estates will answer, and the answer is published on this page for the next buyer.
19% of homes for sale in ZIP 32547 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 (2026-11-11).
Recent Developments in Colony Estates 3rd Addn
Development, infrastructure, retail, and school activity affecting Colony Estates 3rd Addn, tracked by our team and summarized from public reporting and official sources, with links to the original coverage. Last updated November 2026.
- October 2026Infrastructure
Okaloosa outlines Gap Creek drainage projects and permitting hurdles in Fort Walton Beach
County staff described five stormwater efforts, including the Overbrook drainage work, a planned 2.67-acre Sylvania Heights stormwater park estimated at $4 million, and Lloyd Street and Mayflower Avenue improvements expected to go to bid in early 2027. Air Force environmental review and state and Army Corps permits for dredging complicate the timeline.
What it may mean for the marketPlanned drainage upgrades could reduce flooding exposure in the Gap Creek basin over time, though permitting delays mean relief is likely several years out. The site is about 2 miles north of Colony Estates 3rd Addn.
Source: Get The Coast - October 2026Retail & Dining
7 Brew drive-thru coffee stand opens on Beal Parkway in Fort Walton Beach
The stand at 799 Beal Parkway opened Oct. 19 and is the chain's second in Fort Walton Beach. It is expected to add 75 local jobs, and an opening fundraiser raised $4,661 for an equine therapy nonprofit.
What it may mean for the marketA new drive-thru option along Beal Parkway adds early-morning and late-night food and beverage access and about 75 jobs nearby. The site is about 3 miles north of Colony Estates 3rd Addn.
Source: Get The Coast - October 2026Retail & Dining
TJ Maxx to open 33,865-square-foot Destin store Nov. 1 at Paradise Key
The off-price retailer opens at 4437 Commons Drive East with a grand opening from 8 a.m. to 8 p.m. on Nov. 1. Regular hours run 9:30 a.m. to 9:30 p.m. daily, and the store sells apparel, accessories, jewelry, and home and beauty goods.
What it may mean for the marketA new national off-price anchor adds everyday shopping close to Destin's commercial corridor and may shorten trips for retail needs. The project is about 12 miles east of Colony Estates 3rd Addn, elsewhere in Okaloosa County.
Source: Get The Coast - 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 site is about 2 miles north of Colony Estates 3rd Addn.
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 project is about 7 miles east of Colony Estates 3rd Addn, elsewhere in Okaloosa County.
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 11 miles northeast of Colony Estates 3rd Addn.
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 Colony Estates a buyer's or seller's market right now?
How many homes are in Colony Estates?
What share of Colony Estates is owner-occupied?
When were the homes in Colony Estates built?
Who is the best real estate agent for Colony Estates?
How do I find a top Fort Walton Beach real estate agent who knows Colony Estates?
Can Momentum Realty connect me with an agent for Colony Estates?
Where is Colony Estates, and what county is it in?
Should you buy in Colony Estates?
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: November 11, 2026) |
| Housing stock & ownership | Florida DOR assessment roll (street-list match (6 streets, ZIP 32547)) |
| Under-contract shares | Emerald Coast MLS records, as of 2026-11-09 |
| Historical depth | Closed-sale records back to 2026 (2 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.
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See how COLONY ESTATES 3RD ADDN fits the bigger picture — live prices, inventory, and Momentum Scores: