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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

$323,622

AVERAGE PRICE OF 822 HOMES

$205,872

AVERAGE PRICE OF 38 DISTRESSED HOMES

$2,219,167

AVERAGE PRICE OF 6 MULTI-MILLION DOLLAR HOMES

$510,076

AVERAGE PRICE OF 123 NEWLY BUILT HOMES

$381,491

AVERAGE PRICE OF 12 HOMES WITH A POOL

$298,588

AVERAGE PRICE OF 9 REDUCED PRICE HOMES

Average Home

Average Price $323,622
Avg Bedrooms 2.95 beds
Avg Bathrooms 1.75 baths

Average Price by Bedrooms

1 bedroom $232,062
2 bedrooms $250,069
3 bedrooms $295,452
4 bedrooms $354,126
5 bedrooms $432,064
Norfolk Home Price Trends
  12/2021 11/2021 10/2021 9/2021 8/2021
Total Listings 923 n/a 1,133 1,220 1,245
Average Price $325,965 n/a $320,254 $318,201 $319,540
Avg Price Change n/a n/a +0.65% -0.42% -2.32%
Median Price $265,086 n/a $261,382 $263,175 $265,043
Med Price Change n/a n/a -0.69% -0.71% -1.55%
Avg Bedrooms 2.92 beds n/a 2.91 beds 2.9 beds 2.92 beds
Avg Bathrooms 1.74 baths n/a 1.72 baths 1.72 baths 1.74 baths
Home Price by High School
School Name Total Homes Average Price Avg Days on Site
Bt Washington 121 $319,611 81 days
Granby 159 $269,081 88 days
Lake Taylor 174 $403,072 105 days
Maury 221 $332,327 69 days
Norview 134 $261,892 47 days
Home Price by House Size
Total Homes Average Price Avg Days on Site
All Homes 822 $323,622 85 days
Distressed Homes 38 $205,872 139 days
Multi-Million Dollar Homes 6 $2,219,167 211 days
Newly Built Homes 123 $510,076 153 days
Homes with a Pool 12 $381,491 37 days
Reduced Price Homes 9 $298,588 91 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: January 18, 2022

Some listings may be duplicated in the search results due to the co-mingling of listings from more than one multiple listing service. Should there be different listing information between the duplicated listings, user is advised to verify the accuracy of the listing information before making any financial decisions.

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