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Norfolk

Why you'd want to live in Norfolk

Norfolk Virginia is a city of some 247,000 residents and encompasses 66 square miles. It has seven miles of Chesapeake Bay beachfront and a total of 144 miles of shoreline along our lakes, rivers, and the Bay. Much of this land is located in residential neighborhoods. Norfolk is home to the world's largest naval base and the North American Headquarters for NATO (North Atlantic Treaty Organization). USA Today called Norfolk one of the Top 10 booming downtowns, recognizing a decades-long housing, retail and financial boom in Norfolk. Norfolk International Terminal has completed a 300-acre expansion, making it the largest inter-model center in the U.S. Norfolk is home of the USS Wisconsin battleship and a vibrant harbor. Ocean-going cruise vessels of up to 3,000 passengers regularly stop at the Half Moone Cruise and Celebration Center downtown. Norfolk is home to the Virginia Opera, the Virginia Stage Company, the Virginia Symphony, the Virginia Arts Festival, Chrysler Hall, Chrysler Museum of Art, the General Douglas MacArthur Memorial, and Nauticus, the National Maritime Center. Norfolk has been recognized as a Tree City and its neighborhoods have extensive trees and flowers. It is home to the Norfolk Botanical Garden. Old Dominion University, Norfolk State University and a new downtown campus of Tidewater Community College are located in Norfolk and Wesleyan College is located on the border between Norfolk and Virginia Beach. Eastern Virginia Medical School and it's four internationally recognized research institutes are located in Norfolk, as is Sentara Health System, DePaul Medical Center-Bon Secours and Virginia's only free-standing, full-service pediatric hospital, Children's Hospital of the King's Daughters. via norfolk.gov

Norfolk Market Report

$319,928

AVERAGE PRICE OF 1,109 HOMES

$176,496

AVERAGE PRICE OF 27 DISTRESSED HOMES

$1,814,583

AVERAGE PRICE OF 12 MULTI-MILLION DOLLAR HOMES

$463,096

AVERAGE PRICE OF 121 NEWLY BUILT HOMES

$413,031

AVERAGE PRICE OF 16 HOMES WITH A POOL

$256,766

AVERAGE PRICE OF 33 REDUCED PRICE HOMES

Average Home

Average Price $319,928
Avg Bedrooms 2.92 beds
Avg Bathrooms 1.72 baths

Average Price by Bedrooms

1 bedroom $195,849
2 bedrooms $219,959
3 bedrooms $281,840
4 bedrooms $364,868
5 bedrooms $417,464
Norfolk Home Price Trends
  9/2021 8/2021 7/2021 6/2021 5/2021
Total Listings 1,220 1,245 1,219 1,219 1,149
Average Price $318,201 $319,540 $326,947 $328,215 $338,232
Avg Price Change -0.42% -2.32% -0.39% -3.05% +2.07%
Median Price $263,175 $265,043 $269,156 $270,851 $273,631
Med Price Change -0.71% -1.55% -0.63% -1.03% -0.41%
Avg Bedrooms 2.9 beds 2.92 beds 2.94 beds 3 beds 3 beds
Avg Bathrooms 1.72 baths 1.74 baths 1.77 baths 1.81 baths 1.82 baths
Home Price by High School
School Name Total Homes Average Price Avg Days on Site
Bt Washington 167 $281,142 54 days
Granby 241 $284,640 84 days
Lake Taylor 174 $408,175 99 days
Maury 305 $348,842 70 days
Norview 205 $255,850 46 days
Home Price by House Size
Total Homes Average Price Avg Days on Site
All Homes 1,109 $319,928 76 days
Distressed Homes 27 $176,496 141 days
Multi-Million Dollar Homes 12 $1,814,583 257 days
Newly Built Homes 121 $463,096 157 days
Homes with a Pool 16 $413,031 35 days
Reduced Price Homes 33 $256,766 44 days
Iron Valley Real Estate Hampton Roads - Realty Fever Group
Edgar Munoz
200 Bendix Road, Ste. 270
Virginia Beach, VA 23452
757-774-3473

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REIN update its listing on a daily basis. data last updated: October 25, 2021

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