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Bayview Cottage Line Northside Pinewell West Ocean View Willoughby

NORFOLK, VA 23503

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

Neighborhoods in ZIP 23503

Bayview · Cottage Line · Northside · Pinewell · West Ocean View · Willoughby

Market Analysis

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

The NORFOLK, VA real estate market (23503) currently shows 73 active listings. Homes are averaging 29 days on the market before going under contract.

Inventory has increased compared to last year, with 9 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 29 days on market compared to 26 days last year.

The median listing price has risen 3.8% year-over-year, from $348,970 to $362,225.

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

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

Market Overview

Active Listings
73
⇧ 14.1% vs 64 last year
Pending
0
0% pending ratio
Median Price
$362,225
⇧ 3.8% vs $348,970 last year
Average Price
$459,883
⇧ 14.9% vs $400,191 last year
Days on Market
29
⇧ 11.5% vs 26 days last year

Price Per Square Foot

Median $/sqft
$246
⇧ 10.3% vs $223/sqft last year
Median Home Size
1,687 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 73 this year vs 64 last year
  • Days on market: 29 now vs 26 last year

Median & Average Pricing

Year over Year
  • Median: $362,225 (+3.8% YoY)
  • Average: $459,883 (+14.9% 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 10.6 miles — 654 listings ($239,199,082 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
23503Norfolk, VA 235030.0 mi74$32,849,118$349,675$443,907
23518Norfolk, VA 235183.3 mi83$43,524,453$417,000$524,391
23509Norfolk, VA 235094.5 mi29$9,998,098$284,975$344,762
23517Norfolk, VA 235175.6 mi7$2,218,146$277,975$316,878
23504Norfolk, VA 235046.3 mi50$15,302,500$280,000$306,050
23663Hampton, VA 236636.6 mi36$9,591,372$267,400$266,427
23703Portsmouth, VA 237037.6 mi61$20,728,044$340,950$339,804
23523Norfolk, VA 235237.9 mi14$4,144,252$277,500$296,018
23669Hampton, VA 236698.3 mi113$37,652,052$302,425$333,204
23704Portsmouth, VA 237048.8 mi68$17,330,412$259,700$254,859
23325Chesapeake, VA 233259.2 mi20$9,582,400$340,000$479,120
23462Virginia Beach, VA 234629.8 mi64$28,094,080$318,000$438,970
23702Portsmouth, VA 2370210.6 mi35$8,184,155$223,724$233,833

Frequently Asked Questions

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

As of April 2026, there are 73 active listings in NORFOLK, VA (zip code 23503), compared to 64 the prior year.

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

The median listing price in NORFOLK, VA 23503 is $362,225 as of April 2026, a 3.8% increase from $348,970 the prior year.

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

Homes in NORFOLK, VA 23503 spend an average of 29 days on the market before going under contract, compared to 26 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 April 2026, NORFOLK, VA 23503 is currently a Buyer's Market. Inventory has increased compared to last year, with 9 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 29 days on market compared to 26 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 $7,245 compared to a typical 5% commission on the median listing price of $362,225. 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.