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 2 Days Ago

Newest Listings in Norfolk, VA

Nearby Markets to Norfolk, VA

What housing markets are near Norfolk, VA?