Housing Prices in Norfolk, VA

How much do homes in Norfolk, VA cost?

Median List Price

$325,000

$201/sqft

Based on all homes listed in April 2024.

Difference Since Last Month

+$5,001(+1.6%)

Key Takeaway

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

Summary: The median home list price in Norfolk was $325,000 in April 2024, up 1.6% from the previous month, and the median price per square foot was $201.

Median List Price By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 $202K$197.5K
-2.2%
2 $249.9K$250K
0.0%
3 $300K$300.2K
0.1%
4 $383.6K$398K
+3.8%
5+ $400K$415K
+3.8%

Summary: Norfolk housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes decreased by 2.2%, 2 bedroom homes did not change, 3 bedroom homes increased by 0.1%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 3.8%.

Median List Price Compared To Nearby Cities

Virginia Beach
+3.7%
Norfolk
+1.6%
Chesapeake
+1.6%

Housing Supply in Norfolk, VA

How many homes are available in Norfolk, VA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1,1981,283+7.1%

Summary: The Norfolk real estate market had 1,283 homes for sale in April 2024, a 7.1% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 2430
+25.0%
2 175195
+11.4%
3 502533
+6.2%
4 401420
+4.7%
5+ 96105
+9.4%

Summary: The Norfolk housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 9.4%.

Days on Market for Norfolk, VA

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

Average Listing Age

Mar 2024Apr 2024CHANGE
74 Days77 Days+4.0%

Summary: Homes in Norfolk had an average listing age of 77 days in Apr 2024, up by 4% compared to the previous month.

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

Report Updated 10 Days Ago

Newest Listings in Norfolk, VA

Nearby Markets to Norfolk, VA

What housing markets are near Norfolk, VA?