Call or Text (240) SELL-123
Broad Creek Shores Coleman Place Crown Point Easton Forest Elizabeth Park Foxhall Glenrock Ingleside Janaf Lake Taylor Maple Hall (Hollywood Homes) Military Circle Newtown Norfolk Industrial Park Pleasant Point Poplar Halls River Oaks Waston Place (River Forrest Shores) Waverly On Broad Creek Woodbine

NORFOLK, VA 23502

Real Estate Market Report
Seller's Market
March 2026  ·  Source: Realtor.com

Neighborhoods in ZIP 23502

Broad Creek Shores · Coleman Place · Crown Point · Easton Forest · Elizabeth Park · Foxhall · Glenrock · Ingleside · Janaf · Lake Taylor · Maple Hall (Hollywood Homes) · Military Circle · Newtown · Norfolk Industrial Park · Pleasant Point · Poplar Halls · River Oaks · Waston Place (River Forrest Shores) · Waverly On Broad Creek · Woodbine

Market Analysis

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

The NORFOLK, VA real estate market (23502) currently shows 32 active listings. Homes are averaging 30 days on the market before going under contract.

Inventory has tightened compared to last year, with 1 fewer active listings — creating more competition among buyers.

Homes are selling faster, averaging 30 days on market compared to 37 days last year.

The median listing price has risen 0.9% year-over-year, from $339,500 to $342,500.

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: 19,994  ·  Density: 779.3/mi²  ·  Median household income: $65,421

Typical home value: $241,786  ·  Homeownership: 50.4%

Market Overview

Active Listings
32
⇩ 3% vs 33 last year
Pending
0
0% pending ratio
Median Price
$342,500
⇧ 0.9% vs $339,500 last year
Average Price
$394,554
⇧ 9.7% vs $359,761 last year
Days on Market
30
⇩ 18.9% vs 37 days last year

Price Per Square Foot

Median $/sqft
$203
⇩ 3.3% vs $210/sqft last year
Median Home Size
1,744 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 32 this year vs 33 last year
  • Days on market: 30 now vs 37 last year

Median & Average Pricing

Year over Year
  • Median: $342,500 (+0.9% YoY)
  • Average: $394,554 (+9.7% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

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

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 9.1 miles — 522 listings ($206,742,251 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
23502Norfolk, VA 235020.0 mi29$11,410,398$342,500$393,462
23504Norfolk, VA 235043.1 mi50$15,302,500$280,000$306,050
23325Chesapeake, VA 233253.7 mi20$9,582,400$340,000$479,120
23518Norfolk, VA 235183.7 mi83$43,524,453$417,000$524,391
23455Virginia Beach, VA 234554.1 mi65$37,910,210$481,850$583,234
23510Norfolk, VA 235104.6 mi39$15,795,351$298,750$405,009
23507Norfolk, VA 235075.2 mi19$8,106,445$252,750$426,655
23508Norfolk, VA 235085.7 mi33$12,000,318$349,950$363,646
23704Portsmouth, VA 237046.2 mi68$17,330,412$259,700$254,859
23450Virginia Beach, VA 234506.6 mi1$699,000$699,000$699,000
23707Portsmouth, VA 237077.3 mi37$10,476,328$280,950$283,144
23702Portsmouth, VA 237027.7 mi35$8,184,155$223,724$233,833
23453Virginia Beach, VA 234539.1 mi43$16,420,281$336,000$381,867

Frequently Asked Questions

How many homes are for sale in NORFOLK, VA 23502?

As of March 2026, there are 32 active listings in NORFOLK, VA (zip code 23502), compared to 33 the prior year.

What is the median home price in NORFOLK, VA 23502?

The median listing price in NORFOLK, VA 23502 is $342,500 as of March 2026, a 0.9% increase from $339,500 the prior year.

How long do homes stay on the market in NORFOLK, VA?

Homes in NORFOLK, VA 23502 spend an average of 30 days on the market before going under contract, compared to 37 days the prior year.

Is it a seller's or buyer's market in NORFOLK, VA 23502?

Based on current inventory and days-on-market data as of March 2026, NORFOLK, VA 23502 is currently a Seller's Market. Inventory has tightened compared to last year, with 1 fewer active listings — creating more competition among buyers. Homes are selling faster, averaging 30 days on market compared to 37 days last year.

How much can I save on real estate commission in NORFOLK, VA?

With SELL123.com's maximum 3% commission, sellers in NORFOLK, VA 23502 save an estimated $6,850 compared to a typical 5% commission on the median listing price of $342,500. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.