How much do homes in Norfolk, VA cost?

Median List Price

$315,000

$193/sqft

Based on all homes listed in May 2023.

Difference Since Last Month

+$5,042(+1.6%)

Key Takeaway

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

Median List Price By Bedroom Count

# BEDSApr 2023May 2023%
1 $222.5K$226.5K
+1.8%
2 $223K$229.2K
+2.8%
3 $288K$294.2K
+2.2%
4 $369.9K$374.9K
+1.4%
5+ $410K$421.7K
+2.9%

Median List Price Compared To Nearby Cities

Norfolk
+1.6%
Virginia Beach
+1.4%
Chesapeake
+1.1%

How many homes are available in Norfolk, VA?

Number of Homes For Sale

Apr 2023May 2023%
1,0451,148+9.9%

Homes For Sale By Bedroom Count

# BEDSApr 2023May 2023%
1 3230
-6.3%
2 133142
+6.8%
3 446492
+10.3%
4 352384
+9.1%
5+ 82100
+22.0%

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

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

Average Listing Age

Apr 2023May 2023%
65 Days65 Days0.0%

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

What housing markets are near Norfolk, VA?

About Norfolk, VA

Norfolk, VA has 1,148 homes on the market. Between April 2023 and May 2023, Norfolk, VA real estate market has seen increase in the number of listings by 9.9%. The median list price of listings available in May 2023 was $315,000, while the average time on the real estate market was 65 days. Listing prices have changed in this real estate market between May 2022 and May 2023: the cost of 1 bedroom properties went up by 1.8%, prices of 2 bedrooms properties increased by 2.8%, prices of 3 bedrooms properties increased by 2.2%, prices of 4 bedrooms properties went up by 1.4%, prices of 5 bedrooms properties went up by 2.9%. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes inventory decreased by 6.3%, 2 bedrooms homes inventory increased by 6.8%, the quantity of 3 bedrooms homes went up by 10.3%, number of 4 bedrooms homes increased by 9.1%, number of 5 bedrooms homes increased by 22%.