Thu Jan 21 2021
This week the median list price for Norfolk, VA is $254,950 with the market action index hovering around 49. This is less than last month's market action index of 51. Inventory has held steady at or around 342.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$254,950|
|Per Square Foot||$156|
|Days on Market||74|
|Strong Seller's Market|
The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$479,900||2,600||6,500 - 8,000 sqft||4||3||49||6||9||132|
|$294,000||2,000||4,500 - 6,500 sqft||4||2||64||16||16||62|
|$234,975||1,504||6,500 - 8,000 sqft||3||2||74||12||13||37|
|$179,450||1,224||4,500 - 6,500 sqft||3||1||79||16||19||62|