LAKE LORRAINE ESTATES 3
Homes for Sale in Shalimar, FL
True comps, carrying-cost math, and listings before the portals.
Market Heat
Photo via emeraldcoast
Price in Lake Lorraine Estates 3 is driven by the homes themselves, not by amenities. This is an established Shalimar pocket of roughly 200 homes built between 1975 and 2012, with the typical house dating to the late 1970s and running large at about 2,750 square feet under air. The median sits at $507,500, up 8.2% year over year, but treat that as a condition story: an original-era home and a renovated one will not trade near the same number, and there is no shared clubhouse or pool doing any lifting here.
The current posture favors patience on both sides. With a median 121 days on market and a heat score of 28, this is a slow, deliberate market where only 2 homes are active and 4 have closed in the window. Sellers should price to the comps and expect to wait; buyers have room to inspect an older home carefully and negotiate rather than chase. The high homestead share — about 82% — signals a settled, owner-occupied street where inventory turns over quietly, not a churn of quick flips.
LAKE LORRAINE ESTATES 3 right now
🟢 Still climbing. The trailing-12-month median ($508K) is up 8.2% from the prior 12 months ($469K). With about 4 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 emeraldcoast closed sales, 12-month windows ending July 25. Confidence: Low (4 and 5 sales in the two windows).
Jump to: Price history & scorecard · Homes for sale · Schools · FAQ
Updated July 25, 2026 · Live data: emeraldcoast, refreshed twice daily · MLS facts carry their source; interpretation lines are Momentum Research · Data sources & freshness
The 60-Second Overview
LAKE LORRAINE ESTATES 3 market snapshot (as of July 25, 2026): the median sale price is about $508K, and a median 121 days on market for closed sales. The trailing-12-month median is up 8% from the prior 12 months, computed from record-level emeraldcoast closed sales (4 closings in the current window).
LAKE LORRAINE ESTATES 3 is a community of 200 homes in Shalimar, Okaloosa County, built between 1975 and 2012 (median 1978.0), with a median living area of about 2,748 square feet. 82% 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 setting & the homes.
Aerial and on-site photos of LAKE LORRAINE ESTATES 3. Swipe to explore the community.
Swipe or use the arrows → tap any photo to enlarge
LAKE LORRAINE ESTATES 3
LAKE LORRAINE ESTATES 3
LAKE LORRAINE ESTATES 3Photos from emeraldcoast listings in LAKE LORRAINE ESTATES 3; content deemed reliable but not guaranteed.
Who LAKE LORRAINE ESTATES 3 is best for.
Best for
- Buyers wanting more square footage — around 2,750 feet — and willing to shop condition carefully
- Long-hold buyers comfortable in a slow, owner-occupied market with limited turnover
- Renovation-minded buyers who can budget for updates on an older home
Probably not for
- Buyers who need to close fast in a market running a 121-day median
- Those seeking a newer build or move-in-ready finishes without renovation work
- Buyers expecting community amenities like a pool or clubhouse
Price History: What Homes Here Have Actually Sold For
Median sale price over the trailing 12 months ending July 25 of each year, from record-level emeraldcoast closed sales. Same methodology as every appreciation figure on this page: the 2026 point ($508K) IS the median in the snapshot above, and the move from 2025 ($469K) IS the +8.2% one-year change.
Windows contain 2 to 6 sales each (4 in the current window); every figure carries its sample size, and thin markets swing on single closings. 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.
LAKE LORRAINE ESTATES 3 Market Scorecard
LAKE LORRAINE ESTATES 3 is currently a balanced market., a median asking price of $520,000, and homes go under contract in about 85 days.
Go deeper: ZIP market scorecard · county scorecard · true cost calculator · affordability calculator.
Live data: emeraldcoast, refreshed twice daily. Market metrics only; these describe homes for sale and recent sales, not residents.
Homes For Sale Right Now in LAKE LORRAINE ESTATES 3
Live MLS inventory for LAKE LORRAINE ESTATES 3. 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 LAKE LORRAINE ESTATES 3 listings as of 2026-07-25, 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.
LAKE LORRAINE ESTATES 3 on the map.
Every active, pending, and recently sold home, plotted. Toggle the layers and tap a home for the details.
Listing locations from emeraldcoast. Map data © OpenStreetMap, tiles © CARTO.
Schools
- Okaloosa County Public Schools
- Verify the zoned schools by address
- Magnet and choice options may be available
- Shalimar · Elementary
- Meigs · Middle
- Choctawhatchee · High
Zoned schools reflect the assignments reported on recent LAKE LORRAINE ESTATES 3 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 LAKE LORRAINE ESTATES 3 address.
The LAKE LORRAINE ESTATES 3 buying strategy.
If we were buying in LAKE LORRAINE ESTATES 3 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 LAKE LORRAINE ESTATES 3.
An established street where condition sets the price
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.
The location and the amenities are priced into every listing in LAKE LORRAINE ESTATES 3. 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 LAKE LORRAINE ESTATES 3 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 (6.8). Basis: Recent Direction +8.2% year-over-year; Owner Commitment 82% owner-occupied; Pricing Power 91.3% sale-to-list. Refreshed with each data update.
Why work with Momentum here
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.
LAKE LORRAINE ESTATES 3 in 15 seconds.
HOA, CDD & Fees
- Mandatory HOA — confirm current dues
- 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 LAKE LORRAINE ESTATES 3 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 LAKE LORRAINE ESTATES 3 sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in LAKE LORRAINE ESTATES 3, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your LAKE LORRAINE ESTATES 3 home worth?
Get a no-obligation home value based on real comparable sales in LAKE LORRAINE ESTATES 3, 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 homes for sale in LAKE LORRAINE ESTATES 3 on the map →
Frequently Asked Questions
What is the median home price in LAKE LORRAINE ESTATES 3?
How long do homes in LAKE LORRAINE ESTATES 3 take to sell?
How many homes are in LAKE LORRAINE ESTATES 3?
What share of LAKE LORRAINE ESTATES 3 is owner-occupied?
When were the homes in LAKE LORRAINE ESTATES 3 built?
Do cash buyers compete in LAKE LORRAINE ESTATES 3?
Who is the best real estate agent for LAKE LORRAINE ESTATES 3?
How do I find a top Shalimar real estate agent who knows LAKE LORRAINE ESTATES 3?
Can Momentum Realty connect me with an agent for LAKE LORRAINE ESTATES 3?
Should you buy in LAKE LORRAINE ESTATES 3?
An honest fit check. We will tell you when it is not your community.
Nearby Communities
Explore more neighborhoods near LAKE LORRAINE ESTATES 3 with Momentum Realty’s local guides.
Data sources & freshness
| Live listings | emeraldcoast, refreshed twice daily (last: July 25, 2026) |
| Community market stats | emeraldcoast closed sales, 12-month windows ending July 25, 2026 |
| Housing stock & ownership | Florida DOR 2025 assessment roll (street-list match (6 streets, ZIP 32547/32579)) |
| Historical depth | Closed-sale records back to 1993 (138 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 emeraldcoast 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?
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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 emeraldcoast member average and 8 days faster, and we’ll price yours against live your area comps.
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