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City / Town Overview

Norfolk, VA

Aggregate real estate market report across all ZIPs in scope
Buyer's Market
July 2026  ·  Source: Realtor.com

Market Analysis

Data as of July 2026. Source: Realtor.com.

The Norfolk, VA real estate market currently shows 635 active listings, with 7 pending sales. Homes are averaging 41.5 days on the market before going under contract.

Inventory has increased compared to last year, with 65 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 41.5 days on market compared to 38.2 days last year.

The median listing price has risen 5.8% year-over-year, from $339,714 to $359,452.

Whether you are buying or selling in Norfolk, VA, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 236,973  ·  Density: 1,973.0/mi²  ·  Median household income: $61,244

Typical home value: $253,109  ·  Homeownership: 42.8%

Included Areas

Norfolk: 23501, 23502, 23504, 23511, 23514, 23515, 23517, 23518, 23519, 23523

Fairlawn Estates: 23506, 23541

Larchmont: 23508, 23529

West Ocean View: 23503

Colony Points Apartments: 23505

West Ghent: 23507

Lafayette Shores: 23509

Huntersville: 23510

Norview Heights: 23513

Sussex: 23551

Area Map

Market Overview

Active Listings
635
⇧ 11.4% vs 570 last year
Pending
7
1% pending ratio
Median Price
$359,452
⇧ 5.8% vs $339,714 last year
Average Price
$431,113
⇧ 9.9% vs $392,219 last year
Days on Market
41.5
⇧ 8.6% vs 38 days last year

Price Per Square Foot

Median $/sqft
$225
⇧ 2.5% vs $220/sqft last year
Median Home Size
1,616 sqft
Typical listing size
12-Month $/sqft Trend

12-Month Trends

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %