Fallin Waters
Homes for Sale in Mary Esther, FL
All 72 homes for sale in Mary Esther, FL · median $324,900 · Okaloosa County homes for sale
True comps, carrying-cost math, and listings before the portals.
Photo via Emerald Coast MLS
As of October 2026, Fallin Waters in Mary Esther, FL has 1 home for sale. As of October 2026, the MLS records 9 closed sales in Fallin Waters in Mary Esther, FL since 1998, the most recent in February 2024. 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 71 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).
Fallin Waters is a small pocket in Mary Esther, and right now it shows just one active listing. With inventory that thin, there is no reliable market rhythm to read — a single home's condition, updates, and lot set the tone, and any list price tells you more about that one property than about the neighborhood as a whole.
For a buyer, that means patience and readiness: when the right home surfaces here, you are often negotiating against the specifics of that listing rather than a stack of comparable choices. For a seller, the scarcity cuts both ways — limited competition, but also limited recent activity to anchor pricing, so condition and presentation carry the weight.
Figures in this note are as of July 26, 2026. The live market numbers elsewhere on this page update nightly and are newer.
The 60-Second Overview
Fallin Waters sits in Mary Esther, in Okaloosa County along the Emerald Coast. It is a compact community with essentially no standing inventory at the moment, so it trades on a house-by-house basis rather than as an active, liquid market.
Emerald Coast MLS sales records identify 5 homes in Fallin Waters that have changed hands since 2003, built between 1995 and 1998 (median 1996), with a median living area of about 2,539 sq ft and a typical 4-bedroom, 2.5-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.
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 Fallin Waters is best for.
Best for
- Buyers targeting this specific Mary Esther pocket who can move when a home appears
- Buyers comfortable evaluating a home on its own condition and lot rather than a deep menu of options
- Sellers who want to list into a market with minimal direct competition
Probably not for
- Buyers who need multiple listings to tour and compare right now
- Buyers who want established shared amenities within the community
- Buyers who rely on active local price trends to time an offer
The market around Fallin Waters
Fallin Waters is too small for its own price trend, so here is the market around it.
In ZIP 32547, 198 homes are on the market and 27% are under contract — a steady corner of Mary Esther.
Across Okaloosa County, 1,890 homes are active and 551 pending (23% under contract).
In ZIP 32547 (Mary Esther), 385 homes closed in the last 12 months at a median of $337K ($136/sq ft), up 12.1% year over year, with a median 38 days on market. Right now 107 active and 39 pending listings put supply at about 4.0 months — a healthy market. See the live ZIP 32547 housing market and the Okaloosa County market.
ZIP and county figures describe the wider market, not Fallin Waters specifically. Momentum Research analysis of MLS records.
Homes For Sale Right Now in Fallin Waters
Live MLS inventory for Fallin Waters. 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 Fallin Waters listings as of 2026-10-20, 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 Fallin Waters 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 Fallin Waters address.
Shop the zone: Homes zoned for Fort Walton Beach High School
The Fallin Waters buying strategy.
If we were buying in Fallin Waters 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 Fallin Waters.
A one-listing market
When a community carries a single active listing, the usual signals — days on market trends, price movement, absorption — go quiet. There simply is not enough current data to draw a curve. What you can evaluate is the home in front of you: its condition, its updates, its lot, and how it stacks against comparable properties in the broader Mary Esther area rather than within Fallin Waters alone.
No community amenities show up in the current MLS listings, so the value case here rests on the individual home and its Mary Esther location within Okaloosa County, not on shared facilities. Buyers should weigh the property on its own merits and lean on wider-area comps to sanity-check price.
The location and the amenities are priced into every listing in Fallin Waters. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
In a market this thin, timing and comparables are everything. We watch Fallin Waters and the surrounding Mary Esther inventory closely, so when a home lists — or when you want to sell into limited competition — you get a read grounded in the wider Okaloosa market, not guesswork from a sample of one.
Fallin Waters 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 Fallin Waters 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 Fallin Waters sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Fallin Waters, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Fallin Waters home worth?
Get a no-obligation home value based on real comparable sales in Fallin Waters, 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 32547, 32569 |
|---|---|
| Homes in the community | 15 (FL DOR 2025 assessment roll) |
| Years built | 1987–2002 (median 1997) |
| Typical living area | 2,945 sq ft (median) |
| Amenities listed by sellers | BBQ Pit/Grill, Beach, Dock, Pavillion/Gazebo, Picnic Area |
| For sale right now | 1 active, 0 pending · median asking $850,000 |
| Owner-occupied (homestead) share | 87% |
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, “Fallin Waters key facts,” movewithmomentum.com/neighborhoods/fallin-waters, data as of September 20, 2026.
Housing distress & ownership in Fallin Waters, 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 Fallin Waters Right Now (1)
All 1 active and pending Fallin Waters listings with a detail page, newest first, refreshed twice a day from the MLS.
- 511 Fallin Water Drive · $850,000 · 4 bd / 3 ba · listed Aug 18, 2026 · listed by LoKation
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 32547 housing scorecard
- 2 coming-soon communities in Okaloosa County
Mary Esther guides & data
- Market data
- Property taxes (Okaloosa County)
- Homestead exemption (Okaloosa County)
- Home insurance cost
- New construction
- New construction (Okaloosa County)
- Home builders (Okaloosa County)
Florida buyer guides
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 Fallin WatersHomes for Sale
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 Fallin WatersHomes for Sale
Have a question about the homes, fees, rules or commute here? A Momentum agent who works Fallin WatersHomes for Sale will answer, and the answer is published on this page for the next buyer.
21% 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 (2026-10-20).
Recent Developments in Fallin Waters
Development, infrastructure, retail, and school activity affecting Fallin Waters, 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 Fallin Waters, 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 23 miles north of Fallin Waters, 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 about 2 miles southwest of Fallin Waters.
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 8 miles north of Fallin Waters.
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 25 miles north of Fallin Waters, 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 22 miles north of Fallin Waters, 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
How many homes are in Fallin Waters?
What share of Fallin Waters is owner-occupied?
When were the homes in Fallin Waters built?
Who is the best real estate agent for Fallin Waters?
How do I find a top Mary Esther real estate agent who knows Fallin Waters?
Can Momentum Realty connect me with an agent for Fallin Waters?
Where is Fallin Waters, and what county is it in?
Should you buy in Fallin Waters?
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 20, 2026) |
| Housing stock & ownership | Florida DOR assessment roll (street-list match (1 streets, ZIP 32547/32569)) |
| Under-contract shares | Emerald Coast MLS records, as of 2026-09-20 |
| Historical depth | Closed-sale records back to 1998 (9 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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