Water Crest
Homes for Sale in Fleming Island, FL

Water Crest is a small, mature Fleming Island community in Clay County where nearly every home dates to the mid-1990s, so the buying decision here is about how well a given house has been maintained and updated over three decades.

realMLS (Northeast Florida) sales records identify 8 homes in Water Crest that have changed hands since 2002, built between 1994 and 1994 (median 1994), with a median living area of about 1,920 sq ft and a typical 3-bedroom, 2-bath layout; 100% are single-family homes. Source: realMLS (Northeast Florida) 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.

Water Crest is too small for its own price trend, so here is the market around it.

In ZIP 32003, 163 homes are on the market and 32% are under contract — a fast-moving corner of Fleming Island.

Across Clay County, 1,285 homes are active and 448 pending (26% under contract).

In ZIP 32003 (Fleming Island), 507 homes closed in the last 12 months at a median of $425K ($212/sq ft), down 1.9% year over year, with a median 34 days on market. Right now 84 active and 38 pending listings put supply at about 3.0 months — a healthy market. See the live ZIP 32003 housing market and the Clay County market.

ZIP and county figures describe the wider market, not Water Crest specifically. Momentum Research analysis of MLS records.

With homes clustered around a 1994 build year and a median living area near 1,926 square feet, Water Crest doesn't offer much variety in bones — the differences that move value are updates, roof and system age, and overall upkeep. Expect a wide spread in asking prices that reflects renovation, not square footage. Read every listing through that lens and get a clear inspection picture before committing.

The high owner-occupancy rate reinforces the character of the place: this is a hold-and-maintain community more than a trading floor. That tends to keep the housing stock reasonably cared for, but it also caps how many homes are available at any moment. Timing and preparation carry more weight here than in newer subdivisions with steady resale flow.

In a small, condition-driven community like Water Crest, the value of local read is knowing which updates the market actually pays for and which it doesn't. We help buyers price the gap between a refreshed home and one that needs work, and we help sellers position a well-maintained property so its condition premium is obvious rather than assumed.

Listings in this community report association dues of about $5 per month — the median AssociationFee across 19 MLS records, normalised to a monthly figure; most are billed annually. Dues change with budgets and can differ by section or product type; confirm the current figure with the association before you offer. Source: MLS listing records, 2026-10.

Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.