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Norfolk

Why you'd want to live in Norfolk

Norfolk stands out as a cultural hub with its rich history and vibrant arts scene. Home to the renowned Chrysler Museum of Art and the lively Waterside District, Norfolk provides residents with numerous opportunities for entertainment and cultural enrichment. The city's waterfront location along the Elizabeth River offers stunning views and recreational activities such as boating and fishing. Norfolk also has a diverse economy with strong sectors in military defense, healthcare, education, and maritime industries, ensuring robust employment opportunities.

Norfolk Market Report

$385,038

AVERAGE PRICE OF 871 HOMES

$273,778

AVERAGE PRICE OF 28 DISTRESSED HOMES

$1,574,429

AVERAGE PRICE OF 21 MULTI-MILLION DOLLAR HOMES

$540,798

AVERAGE PRICE OF 64 NEWLY BUILT HOMES

$535,345

AVERAGE PRICE OF 12 HOMES WITH A POOL

$354,793

AVERAGE PRICE OF 34 REDUCED PRICE HOMES

Average Home

Average Price $385,038
Avg Bedrooms 2.95 beds
Avg Bathrooms 1.8 baths

Average Price by Bedrooms

1 bedroom $220,626
2 bedrooms $288,810
3 bedrooms $345,391
4 bedrooms $439,121
5 bedrooms $492,404
Norfolk Home Price Trends
  2/2025 1/2025 12/2024 11/2024 10/2024
Total Listings 849 794 834 915 927
Average Price $380,662 $383,219 $384,768 $392,307 $392,836
Avg Price Change -0.67% -0.40% -1.96% -0.13% -0.06%
Median Price $314,961 $315,611 $322,075 $325,000 $324,760
Med Price Change -0.21% -2.05% -0.91% +0.07% -0.23%
Avg Bedrooms 2.95 beds 2.91 beds 2.92 beds 2.94 beds 2.93 beds
Avg Bathrooms 1.78 baths 1.74 baths 1.75 baths 1.82 baths 1.79 baths
Home Price by High School
School Name Total Homes Average Price Avg Days on Site
Maury 261 $385,808 61 days
Home Price by House Size
Total Homes Average Price Avg Days on Site
All Homes 871 $385,038 61 days
Distressed Homes 28 $273,778 93 days
Multi-Million Dollar Homes 21 $1,574,429 133 days
Newly Built Homes 64 $540,798 70 days
Homes with a Pool 12 $535,345 53 days
Reduced Price Homes 34 $354,793 52 days
OWN Real Estate
Mary Boling
440 Monticello Ave Suite 1800
Norfolk, VA 23510
619-665-8871

Fair Housing/Equal Opportunity
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REIN update its listing on a daily basis. data last updated: March 14, 2025

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