Is Norfolk, VA 23519 a buyer’s or seller’s market?
Norfolk is a seller’s market. With about 1 months of supply and 10% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 53% of U.S. ZIP codes, and #240 of 358 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Norfolk housing market right now
In the three months ending August 31, 2026, 10% of homes in Norfolk, VA 23519 sold above their list price, the typical home went under contract in 47 days and there was 1 month of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 21 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 33%, homes sold more slowly (21 days then) and the median sale price rose 6% to $375,026. Overall, Norfolk is less competitive than a year ago, which gives buyers more room.
On our competition score, Norfolk ranks #240 of 358 VA ZIP codes with enough sales (score 52 out of 100).
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Where Norfolk is
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Questions about Norfolk real estate
Is Norfolk a buyer’s or seller’s market?
A seller’s market: there was 1 months of supply in Norfolk, VA 23519 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Norfolk?
The typical home went under contract in 47 days in the latest three months.
Do homes in Norfolk sell over asking?
10% of homes sold above their original list price, and the typical sale closed at 99.7% of the list price.
What is the median home price in Norfolk?
The median sale price was $375,026 in the three months ending August 31, 2026, about $231 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology