Housing Prices in Norfolk, VA

How much do homes in Norfolk, VA cost?

Median List Price

$324,859

$199/sqft

Based on all homes listed in March 2024.

Difference Since Last Month

+$4,959(+1.6%)

Key Takeaway

The list price of homes in Norfolk has increased by 1.6% since February.

Summary: The median home list price in Norfolk was $324,859 in March 2024, up 1.6% from the previous month, and the median price per square foot was $199.

Median List Price By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 $215K$205K
-4.7%
2 $243K$247K
+1.6%
3 $299.4K$300K
0.2%
4 $365K$378.9K
+3.8%
5+ $400K$400K
0.0%

Summary: Norfolk housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes decreased by 4.7%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 0.2%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes did not change.

Median List Price Compared To Nearby Cities

Chesapeake
+2.4%
Norfolk
+1.6%
Virginia Beach
+1.4%

Housing Supply in Norfolk, VA

How many homes are available in Norfolk, VA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1,1871,349+13.6%

Summary: The Norfolk real estate market had 1,349 homes for sale in March 2024, a 13.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 2124
+14.3%
2 167197
+18.0%
3 498546
+9.6%
4 392460
+17.3%
5+ 109122
+11.9%

Summary: The Norfolk housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 18%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 17.3%, and 5+ bedroom homes increased by 11.9%.

Days on Market for Norfolk, VA

How long does it take to sell a home in Norfolk, VA?

Average Listing Age

Feb 2024Mar 2024CHANGE
88 Days88 Days0.0%

Summary: Homes in Norfolk had an average listing age of 88 days in Mar 2024, up by 0% compared to the previous month.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Norfolk, VA

Nearby Markets to Norfolk, VA

What housing markets are near Norfolk, VA?