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NORFOLK, VA 23504

Real Estate Market Report
Balanced Market
February 2026  ·  Source: Realtor.com

Neighborhoods in ZIP 23504

Ballentine Place · Barberton · Bowling Green · Broad Creek · Bruce's Park · Calvert Square · Central Brambleton · Chesterfield Heights · Colonial Place · Cottage Heights (Lindenwood) · Grandy Village · Hunter's Square · Middle Towne Arch · Olde Huntersville · Park Place · Roberts Village · South Brambleton · Spartan Village · Stonebridge · Tidewater Gardens · Villa Heights

Market Analysis

Data as of February 2026. Source: Realtor.com.

The NORFOLK, VA real estate market (23504) currently shows 50 active listings. Homes are averaging 41 days on the market before going under contract.

Inventory has increased compared to last year, with 10 more homes available — giving buyers more choice.

Homes are selling faster, averaging 41 days on market compared to 54 days last year.

The median listing price has risen 4.7% year-over-year, from $267,500 to $280,000.

Whether you are buying or selling in NORFOLK, VA, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 24,202  ·  Density: 2,284.6/mi²  ·  Median household income: $39,611

Typical home value: $239,481  ·  Homeownership: 33.9%

Market Overview

Active Listings
50
⇧ 25% vs 40 last year
Pending
0
0% pending ratio
Median Price
$280,000
⇧ 4.7% vs $267,500 last year
Average Price
$306,050
⇧ 19% vs $257,146 last year
Days on Market
41
⇩ 24.1% vs 54 days last year

Price Per Square Foot

Median $/sqft
$184
⇧ 4% vs $177/sqft last year
Median Home Size
1,665 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 50 this year vs 40 last year
  • Days on market: 41 now vs 54 last year

Median & Average Pricing

Year over Year
  • Median: $280,000 (+4.7% YoY)
  • Average: $306,050 (+19% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 9.6 miles — 664 listings ($246,490,506 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
23504Norfolk, VA 235040.0 mi50$15,550,500$287,250$311,010
23517Norfolk, VA 235171.7 mi11$3,461,832$292,450$314,712
23509Norfolk, VA 235091.8 mi28$9,176,608$281,450$327,736
23513Norfolk, VA 235132.7 mi48$14,308,368$292,500$298,091
23502Norfolk, VA 235023.1 mi25$10,047,150$357,500$401,886
23704Portsmouth, VA 237043.3 mi67$16,890,700$259,900$252,100
23505Norfolk, VA 235054.2 mi45$17,479,440$325,000$388,432
23518Norfolk, VA 235185.0 mi88$44,206,008$395,000$502,341
23703Portsmouth, VA 237036.0 mi72$25,197,552$348,500$349,966
23464Virginia Beach, VA 234646.3 mi73$31,454,021$424,500$430,877
23701Portsmouth, VA 237016.6 mi61$16,629,027$265,000$272,607
23320Chesapeake, VA 233207.7 mi95$41,889,300$425,000$440,940
23450Virginia Beach, VA 234509.6 mi1$200,000$200,000$200,000

Frequently Asked Questions

How many homes are for sale in NORFOLK, VA 23504?

As of February 2026, there are 50 active listings in NORFOLK, VA (zip code 23504), compared to 40 the prior year.

What is the median home price in NORFOLK, VA 23504?

The median listing price in NORFOLK, VA 23504 is $280,000 as of February 2026, a 4.7% increase from $267,500 the prior year.

How long do homes stay on the market in NORFOLK, VA?

Homes in NORFOLK, VA 23504 spend an average of 41 days on the market before going under contract, compared to 54 days the prior year.

Is it a seller's or buyer's market in NORFOLK, VA 23504?

Based on current inventory and days-on-market data as of February 2026, NORFOLK, VA 23504 is currently a Balanced Market. Inventory has increased compared to last year, with 10 more homes available — giving buyers more choice. Homes are selling faster, averaging 41 days on market compared to 54 days last year.

How much can I save on real estate commission in NORFOLK, VA?

With SELL123.com's maximum 3% commission, sellers in NORFOLK, VA 23504 save an estimated $5,600 compared to a typical 5% commission on the median listing price of $280,000. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.