BOLD REALTY MARKET REPORT

Norfolk, VA

Single-Family Homes

TOM MILAN 757-777-7577



Norfolk, VA

Fri Mar 29 2024
This week the median list price for Norfolk, VA is $335,000 with the market action index hovering around 55. This is an increase over last month's market action index of 51. Inventory has increased to 231. Click here to stay informed with the Norfolk market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Norfolk, VA

Fri Mar 29 2024
This week the median list price for Norfolk, VA is $335,000 with the market action index hovering around 55. This is an increase over last month's market action index of 51. Inventory has increased to 231. Click here to stay informed with the Norfolk market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Real-Time Market Profile

Never miss important changes in the Norfolk market.
Median List Price $335,000
Median Price of New Listings $314,500
Per Square Foot $196
Average Days on Market 64
Median Days on Market 28
Price Decreased 32%
Price Increased 5%
Relisted 14%
Inventory 231
Median Rent
Market Action 55
Strong Seller's Market

The market appears to be hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$580,000 2,619 8,000 - 10,000 sqft 4 2.5 24 13 7 56
$378,950 1,994 6,500 - 8,000 sqft 4 2.5 69 12 9 14
$309,950 1,645 6,500 - 8,000 sqft 4 2 72 16 17 31
$245,000 1,100 4,500 - 6,500 sqft 3 1.5 82 21 20 42