Water Crest
Homes for Sale in Fleming Island, FL
True comps, carrying-cost math, and listings before the portals.
Photo courtesy of CHRISTOPHER HENDERSON, APPRAISER · via realMLS
As of September 2026, the MLS records 26 closed sales in Water Crest in Fleming Island, FL since 2002, the most recent in May 2026. Across Fleming Island as a whole, 269 homes closed in the last 12 months at a median of $460,000, 29 median days on market, with 55 homes for sale today. At that median and Clay County's FY2025-26 rate of 15.05 mills, annual property tax runs about $6,920 ($6,330 with the full homestead exemption).
Water Crest is a compact, established pocket of Fleming Island: 74 homes built in a tight window between 1993 and 1995, with a median just under 1,926 square feet. When a community is this uniform in age and size, price is driven less by floor plan and more by condition and updates. A kitchen and systems that have been refreshed will separate itself from one still carrying its original finishes, and buyers should underwrite accordingly.
The homestead share sits at about 72%, which points to a community held largely by long-term owners rather than churned by investors. For sellers, that scarcity of turnover can work in your favor when inventory is thin. For buyers, it means patience — the right home here comes up when it comes up, and being ready to move on a well-kept listing matters more than waiting for a wave of options.
The 60-Second Overview
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.
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 Water Crest. Swipe to explore the community.
Swipe or use the arrows → tap any photo to enlarge
Water Crest
Water Crest
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Water CrestPhotos from realMLS listings in Water Crest; content deemed reliable but not guaranteed.
Who Water Crest is best for.
Best for
- Buyers seeking a mid-1990s home near 1,900+ square feet and willing to wait for the right listing
- Owner-occupants planning to hold long-term in an established Fleming Island setting
- Buyers comfortable budgeting for updates or reading condition-based price differences carefully
Probably not for
- Buyers who want newer construction or modern floor plans
- Shoppers needing a large, constantly refreshed pool of inventory
- Investors chasing quick turnover in a high-owner-occupancy, low-churn community
The market around Water Crest
Water Crest is too small for its own price trend, so here is the market around it.
In ZIP 32003, 153 homes are on the market and 36% are under contract — a fast-moving corner of Fleming Island.
Across Clay County, 1,266 homes are active and 447 pending (26% under contract).
ZIP and county figures describe the wider market, not Water Crest specifically. Momentum Research analysis of MLS records.
Housing distress & ownership in Water Crest, Fleming Island
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. Source: Data provided by realMLS. Deemed reliable but not guaranteed.
Life at Water Crest
- Fitness Center · reported on 1 of 1 listings
- Jogging Path · reported on 1 of 1 listings
- Maintenance Grounds · reported on 1 of 1 listings
- Playground · reported on 1 of 1 listings
- Tennis Court(s) · reported on 1 of 1 listings
- Pickleball · reported on 1 of 1 listings
- Children's Pool · reported on 1 of 1 listings
- Pool · reported on 1 of 1 listings
Community amenities as reported across realMLS listings in this community; deemed reliable but not guaranteed. Verify current amenities and access with the HOA.
The Water Crest buying strategy.
If we were buying in Water Crest 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 Water Crest.
A condition-driven market in a fixed-supply pocket
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.
The location and the amenities are priced into every listing in Water Crest. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
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.
Water Crest 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 Water Crest 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 Water Crest sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Water Crest, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Water Crest home worth?
Get a no-obligation home value based on real comparable sales in Water Crest, 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 Fleming Island →
Should you buy in Water Crest?
An honest fit check. We will tell you when it is not your community.
Nearby Communities
Explore more neighborhoods near Water Crest with Momentum Realty’s local guides.
Data sources & freshness
| Live listings | realMLS, refreshed twice daily (last: September 7, 2026) |
| Under-contract shares | realMLS records, as of 2026-09-05 |
| Historical depth | Closed-sale records back to 2002 (26 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 realMLS 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?
You just read the data. Now see what your home is worth.
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 realMLS member average and 8 days faster, and we’ll price yours against live local comps.
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A real valuation with real comps from a local listing agent, not an instant algorithm. Response within one business day.
See how Water Crest fits the bigger picture — live prices, inventory, and Momentum Scores:
Water Crest Market Scorecard
Water Crest is currently a no active listings market. Limited supply, a median asking price of n/a.
Typical home value in the 32003 ZIP is $444,116, about 25.2% below the Florida norm (Zillow Home Value Index).
Go deeper: ZIP market scorecard · county scorecard · true cost calculator · affordability calculator.
Live data: realMLS, refreshed twice daily. Typical value: Zillow Research. Market metrics only; these describe homes for sale and recent sales, not residents.