Brokers — List your Company Here
Featured local agent — Norfolk, VA
Sarah Mitchell
Compass Real Estate · Norfolk, VA
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
This spot is open. Be the only brokerage featured on this page — one slot, no auction.
Claim this spot* Example only — dummy agent for illustration. Your logo, name, tagline, link, and lead routing replace this content.
Norfolk, VA Housing Market & Real Estate
Housing market overview · Updated monthly ·
$342,000median sale price
How is the Norfolk, VA housing market right now?
The median home sale price in Norfolk, VA is $342,000, up 5.2% year-over-year. Homes sell in an average of 25 days with 655 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Norfolk a buyer's or seller's market?
Norfolk, VA is currently a seller's market, based on 2.3 months of supply and homes selling in about 25 days. How we determine this →
Homes sold
287
Last 12 weeks
Days on market
25
Average pace
Active listings
655
2.3 months supply
Sale-to-list
100.0%
Above asking
What does the Norfolk housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $342,000 |
| Median list price | $335,000 |
| Year-over-year price change | +5.2% |
| Average days on market | 25 days |
| Active inventory | 655 listings |
| Months of supply | 2.3 months |
| Sale-to-list price ratio | 100.0% |
| Median price per sq ft | $209/sq ft |
| Homes sold (latest month) | 287 |
| New listings (latest month) | 401 |
| Listings with a price cut | 22.8% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Norfolk by property type?
How the Norfolk, VA market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $345,278 | $211/sq ft | 214 | 20 days |
| Condo / Co-op | $249,900 | $211/sq ft | 41 | 71 days |
| Townhouse | $500,000 | $247/sq ft | 19 | 24 days |
Source: Redfin · Updated monthly
The Norfolk housing market is currently classified as a seller's market with a median sale price of $342,000. Prices have risen 5.2% compared to last year, with homes spending an average of 25 days on market, indicating 2.3 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.9x provides context for how home values compare to local earning capacity.
Homes for sale in Norfolk
There are currently 655 homes listed for sale in Norfolk, Virginia. The median listing price is $335K.
Active listings
655
Homes on market
Median list price
$335K
Avg. days on market
25
Days until sale
New this week
401
Newly listed
Who lives in Norfolk?
Population
235,037
Median income
$64,017/yr
Median age
32.4 years
Owner-occupied
45.7%
College grads
32.7%
Avg commute
22.9 min
Source: U.S. Census Bureau ACS
What are homes worth in Norfolk?
Zillow home value
$315,536
Zillow rent index
$1,752/mo
Price-to-rent ratio
15.0x
Price-to-income
4.9x
Source: Zillow Research
What is it like to live in Norfolk?
Norfolk is a community of approximately 235K residents with a median age of 32.4 years.The median household income is $64,017, which represents a working-class community with solid middle-income opportunities. 32.7% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 45.7%, showing a blend of owner and renter-occupied properties. The average commute time is 22.9 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Norfolk offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Norfolk?
50 schools tracked · 26,882 students
The largest public schools serving Norfolk, VA by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Granby High
Grades 9-12 · 1,850 students
Norview High
Grades 9-12 · 1,821 students
Matthew Fontaine Maury High
Grades 9-12 · 1,736 students
Norview Middle
Grades 6-8 · 1,152 students
Lake Taylor High
Grades 9-12 · 1,137 students
Blair Middle
Grades 6-8 · 1,072 students
Booker T Washington High
Grades 9-12 · 955 students
Azalea Gardens Middle
Grades 6-8 · 808 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Norfolk, VA?
Want a head-to-head view? Compare Norfolk side-by-side with any other U.S. city using our market-comparison tool.
Is Norfolk a good real estate investment market?
For investors evaluating Norfolk, the price-to-rent ratio of 15.0x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 5.2% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Norfolk's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Norfolk's median home price.
Frequently asked questions
What is the average home price in Norfolk?
The median home sale price in Norfolk is $342,000, up 5.2% from last year.
How long do homes stay on market in Norfolk?
Homes typically spend 25 days on market before going under contract.
What is the median income in Norfolk?
The median household income is $64,017 per year.
Is Norfolk a buyer's or seller's market?
With 2.3 months of supply, Norfolk is currently a seller's market.
What is the Zillow home value estimate for Norfolk?
The Zillow Home Value Index (ZHVI) for Norfolk is $315,536, representing the typical home value in the area.
What is the median condo price in Norfolk?
The median condo/co-op sale price in Norfolk, VA is $249,900, compared to $345,278 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Norfolk?
The median single-family home price in Norfolk, VA is $345,278 (about $211 per square foot).
Be the brokerage on this page
1 slot per pageGet featured on Norfolk, VA
Your logo, brokerage name, and direct link to your site — featured at the top of this page in front of every visitor researching this whole city. One brokerage, no rotation, no bidding war.
- Goes live in 24 hours
- Cancel anytime
- Do-follow backlink to your site
Get Norfolk market alerts
Weekly updates on prices, inventory, and trends. Free forever.