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NORFOLK, VA 23503

Real Estate Market Report
Buyer's Market
January 2026  ·  Source: Realtor.com

Market Overview

Active Listings
67
⇧ 1.5% vs 66 last year
Pending
0
0% pending ratio
Median Price
$350,000
⇧ 2.2% vs $342,450 last year
Average Price
$439,192
⇧ 20.4% vs $364,850 last year
Days on Market
58
⇧ 9.4% vs 53 days last year

Market Context

Population: 30,991  ·  Density: 2,371.5/mi²  ·  Median household income: $58,063

Typical home value: $251,541  ·  Homeownership: 45.8%

Market Analysis

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

The NORFOLK, VA real estate market (23503) currently shows 67 active listings. Homes are averaging 58 days on the market before going under contract.

Inventory has increased compared to last year, with 1 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 58 days on market compared to 53 days last year.

The median listing price has risen 2.2% year-over-year, from $342,450 to $350,000.

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 Trends

Inventory & Days on Market

Year over Year
  • Listings: 67 this year vs 66 last year
  • Days on market: 58 now vs 53 last year

Median & Average Pricing

Year over Year
  • Median: $350,000 (+2.2% YoY)
  • Average: $439,192 (+20.4% 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

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 10.6 miles — 674 listings ($245,123,415 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
23503Norfolk, VA 235030.0 mi67$29,425,864$350,000$439,192
23518Norfolk, VA 235183.3 mi88$44,206,008$395,000$502,341
23509Norfolk, VA 235094.5 mi28$9,176,608$281,450$327,736
23517Norfolk, VA 235175.6 mi11$3,461,832$292,450$314,712
23504Norfolk, VA 235046.3 mi50$15,550,500$287,250$311,010
23663Hampton, VA 236636.6 mi44$12,195,260$279,000$277,165
23703Portsmouth, VA 237037.6 mi72$25,197,552$348,500$349,966
23523Norfolk, VA 235237.9 mi12$3,965,508$330,000$330,459
23669Hampton, VA 236698.3 mi106$34,274,888$301,667$323,348
23704Portsmouth, VA 237048.8 mi67$16,890,700$259,900$252,100
23325Chesapeake, VA 233259.2 mi18$5,699,880$299,999$316,660
23462Virginia Beach, VA 234629.8 mi76$36,130,400$330,000$475,400
23702Portsmouth, VA 2370210.6 mi35$8,948,415$245,000$255,669

Frequently Asked Questions

How many homes are for sale in NORFOLK, VA 23503?

As of January 2026, there are 67 active listings in NORFOLK, VA (zip code 23503), compared to 66 the prior year.

What is the median home price in NORFOLK, VA 23503?

The median listing price in NORFOLK, VA 23503 is $350,000 as of January 2026, a 2.2% increase from $342,450 the prior year.

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

Homes in NORFOLK, VA 23503 spend an average of 58 days on the market before going under contract, compared to 53 days the prior year.

Is it a seller's or buyer's market in NORFOLK, VA 23503?

Based on current inventory and days-on-market data as of January 2026, NORFOLK, VA 23503 is currently a Buyer's Market. Inventory has increased compared to last year, with 1 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 58 days on market compared to 53 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 23503 save an estimated $7,000 compared to a typical 5% commission on the median listing price of $350,000. 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.