The Norfolk housing market is very competitive. Homes in Norfolk receive 3 offers on average and sell in around 26 days. The median sale price of a home in Norfolk was $309K last month, up 8.2% since last year. The median sale price per square foot in Norfolk is $201, up 5.2% since last year.
In April 2024, Norfolk home prices were up 8.2% compared to last year, selling for a median price of $309K. On average, homes in Norfolk sell after 26 days on the market compared to 21 days last year. There were 276 homes sold in April this year, down from 294 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$308,500
+8.2% YoY | Apr 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Apr 2024
Growth
% YoY
Norfolk, VA
$308,500
+8.2%
United States
To compare other locations to the Norfolk and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in Norfolk add value to a home.
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How hot is the Norfolk housing market?
Norfolk is very competitive. Homes sell in 25 days.
0
100
73
Very Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
Many homes get multiple offers, some with waived contingencies.
The average homes sell for around list price and go pending in around 25 days.
Hot homes
can sell for about 2% above list price and go pending in around 13 days.
This data does not reflect actual moves. The latest migration analysis is based on a sample of about two
million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user
must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.
Home offer insights for Norfolk
Explore recent offers and recently sold homes in Norfolk
Recent offers
Offer Not Accepted|
7 Weeks Ago
~$475K Offer
Sold for $500K
3bd | 3ba | ~2,750sqft
Over List Price
0%
Days on Market
14
Competing Offers
7
Down Payment
—
Marshall Osbey
Norfolk Redfin Agent
Property is waterfront. Offer was significantly above asking price with an appraisal gap guarantee. Clients submitted offer on Wednesday and Sellers had 4 offers by Thursday. Seller delayed reviewing offers until Sunday to accumulate additional offers.…
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Norfolk housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Norfolk.
Risk Factor
Flood Factor - Major
85% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Norfolk has a major risk of flooding. 18,429 properties in Norfolk are likely to be
severely affected
by flooding over the next 30 years. This represents 85% of all properties in Norfolk. Flood risk is increasing faster than the national average.
<1% of properties are at risk of wildfire over the next 30 years
Fire Factor
Norfolk has a moderate risk of wildfire. There are 388 properties in Norfolk that have some risk of being affected by wildfire over the next 30 years. This represents <1% of all properties in Norfolk.
100% of properties are at severe
risk of a severe wind event over the next 30 years
Wind Factor
Norfolk has a Severe Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Norfolk is most at risk from hurricanes. 67,669 properties in Norfolk have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 142 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 160 mph.