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Park Place

NORFOLK, VA 23517

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

Market Overview

Active Listings
11
⇩ 21.4% vs 14 last year
Pending
0
0% pending ratio
Median Price
$292,450
⇩ 40.3% vs $490,000 last year
Average Price
$314,712
⇩ 32.4% vs $465,693 last year
Days on Market
56
⇩ 15.2% vs 66 days last year

Market Context

Population: 4,212  ·  Density: 1,968.9/mi²  ·  Median household income: $55,536

Typical home value: $348,700  ·  Homeownership: 23.8%

Market Analysis

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

The NORFOLK, VA real estate market (23517) currently shows 11 active listings. Homes are averaging 56 days on the market before going under contract.

Inventory has tightened compared to last year, with 3 fewer active listings — creating more competition among buyers.

Homes are selling faster, averaging 56 days on market compared to 66 days last year.

The median listing price has fallen 40.3% year-over-year, from $490,000 to $292,450.

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: 11 this year vs 14 last year
  • Days on market: 56 now vs 66 last year

Median & Average Pricing

Year over Year
  • Median: $292,450 (-40.3% YoY)
  • Average: $314,712 (-32.4% 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 — 753 listings ($305,609,298 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
23517Norfolk, VA 235170.0 mi11$3,461,832$292,450$314,712
23510Norfolk, VA 235101.2 mi40$16,822,480$327,250$420,562
23504Norfolk, VA 235041.7 mi50$15,550,500$287,250$311,010
23523Norfolk, VA 235232.8 mi12$3,965,508$330,000$330,459
23704Portsmouth, VA 237043.2 mi67$16,890,700$259,900$252,100
23513Norfolk, VA 235133.3 mi48$14,308,368$292,500$298,091
23502Norfolk, VA 235024.6 mi25$10,047,150$357,500$401,886
23324Chesapeake, VA 233244.9 mi55$16,439,995$290,000$298,909
23518Norfolk, VA 235185.3 mi88$44,206,008$395,000$502,341
23701Portsmouth, VA 237015.9 mi61$16,629,027$265,000$272,607
23462Virginia Beach, VA 234628.1 mi76$36,130,400$330,000$475,400
23321Chesapeake, VA 233218.6 mi85$38,078,725$452,500$447,985
23435Suffolk, VA 2343510.6 mi135$73,078,605$517,000$541,323

Frequently Asked Questions

How many homes are for sale in NORFOLK, VA 23517?

As of January 2026, there are 11 active listings in NORFOLK, VA (zip code 23517), compared to 14 the prior year.

What is the median home price in NORFOLK, VA 23517?

The median listing price in NORFOLK, VA 23517 is $292,450 as of January 2026, a 40.3% decrease from $490,000 the prior year.

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

Homes in NORFOLK, VA 23517 spend an average of 56 days on the market before going under contract, compared to 66 days the prior year.

Is it a seller's or buyer's market in NORFOLK, VA 23517?

Based on current inventory and days-on-market data as of January 2026, NORFOLK, VA 23517 is currently a Seller's Market. Inventory has tightened compared to last year, with 3 fewer active listings — creating more competition among buyers. Homes are selling faster, averaging 56 days on market compared to 66 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 23517 save an estimated $5,849 compared to a typical 5% commission on the median listing price of $292,450. 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.