Norfolk City County Home Prices & Values

No data Zillow Home Value Index

  • No data1-year change
  • No data 1-year forecast

The median list price per square foot in Norfolk City County is $130, which is lower than the Virginia Beach Metro average of $131. The median price of homes currently listed in Norfolk City County is $189,900 while the median price of homes that sold is $197,350. The median rent price in Norfolk City County is $1,150, which is lower than the Virginia Beach Metro median of $1,275.

Foreclosures will be a factor impacting home values in the next several years. In Norfolk City County 0.1 homes are foreclosed (per 10,000). This is lower than the Virginia Beach Metro value of 1.7 and also lower than the national value of 4.4

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Norfolk City County is 5.7%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Norfolk City County homeowners underwater on their mortgage is 31.0%, which is higher than Virginia Beach Metro at 25.8%.

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Relative ZHVI
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Norfolk City County Market Overview

Data through Jul 31, 2014
  • No data ZHVI
  • No data 1-yr forecast
  • $189,900 Median listing price
  • $197,350 Median sale price
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Norfolk City County Market Health

Data through Jul 31, 2014
  • No recent data
  • No data Average days on Zillow
  • 31.0% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 5.7% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

0.1 homes(Jun 30, 2013) Norfolk City County
1.7 homes Virginia Beach Metro
4.4 homes United States
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Nearby Counties

Name Median ZHVI Name Median ZHVI Name Median ZHVI
York County $284,400 Williamsburg City County $254,100 Virginia Beach City County $243,200
Currituck County $238,600 Chesapeake City County $238,400 Newport News City County $154,800
Hampton City County $150,800 Portsmouth City County $139,800  

Listings & Sales

Data through Jul 31, 2014
  • $130 Median list price / sq ft
  • $131 Median sale price / sq ft
  • 45.0% Listings with price cut
30.0%
Sold below listing
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Norfolk City County Rentals

Data through Jul 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,257 Norfolk City County
$1,418 Virginia Beach Metro
$1,318 United States
  • 4.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $1,150 Rent list price
  • $0.98 Rent list price / sq ft
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