Lake Lorraine Estates
Homes for Sale in Shalimar, FL

Lake Lorraine Estates market snapshot (as of November 9, 2026): the median sale price is about $420K, and a median 9 days on market for closed sales.

In ZIP 32579 (Shalimar), 60 homes closed in the last 12 months at a median of $325K, up 10.3% year over year, with a median 32 days on market. Right now 22 active and 10 pending listings put supply at about 4.4 months — a balanced market. See the live ZIP 32579 housing market and the Okaloosa County market.

County records show 16 qualified sales in LAKE LORRAINE ESTATES across 2024–2025 (11 in 2024, 5 in 2025), median $525,000 — the last recorded sale per parcel on the Florida DOR 2025 assessment roll, independent of the MLS.

Lake Lorraine Estates is a community of 173 homes in Shalimar, Okaloosa County, built between 1975 and 2001 (median 1978), with a median living area of about 2,703 square feet. 83% of parcels are homesteaded, the owner-occupancy proxy in the Florida DOR assessment roll (2025 roll, public records).

Lake Lorraine Estates 3 is a mature, low-turnover Shalimar neighborhood of larger homes on an older housing stock — the appeal is space and establishment, not community amenities, of which none show up in current MLS listings.

The defining feature here is age and size together. A median build year in the late 1970s across a 1975–2012 span means you are shopping a range of vintages, from largely original homes to later infill and heavily updated properties. At a median near 2,750 square feet, these are substantial houses, so the questions that matter are roofs, systems, windows, and whether the kitchens and baths have been touched — those variables, more than location, explain the spread around the $507,500 median.

With about 82% of homes homesteaded and only 2 active listings, supply is thin and residents tend to stay. That works in a seller's favor on scarcity but against a fast sale on speed, which the 121-day median reflects. Buyers should read the slow pace as leverage: time to underwrite an older home properly and negotiate on findings.

In a market this thin and this condition-sensitive, the median tells you almost nothing on its own. We price against the specific vintage and update level of each home, help buyers budget for the realities of a late-1970s house at this size, and set seller expectations honestly against a 121-day norm rather than promising speed the data does not support.