Home Values

Norfolk Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

None

  • None 1-year change
  • None 1-year forecast

The median list price per square foot in Norfolk is None. The median rent price in Norfolk is $1,195, which is lower than the Virginia Beach Metro median of $1,260.

Foreclosures will be a factor impacting home values in the next several years. In Norfolk 0.1 homes are foreclosed (per 10,000). This is lower than the Virginia Beach Metro value of 1.3 and also lower than the national value of 3.5

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 is 4.8%, which is lower than the national value of 6.0%. 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 homeowners underwater on their mortgage is 34.4%, which is higher than Virginia Beach Metro at 25.0%.

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Relative ZHVI
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Norfolk Market Overview

Data through May 31, 2015
  • No data ZHVI
  • No data 1-yr forecast
  • No data Median listing price
  • $183,100 Median sale price
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Norfolk Market Health

Data through May 31, 2015
  • No recent data
  • No data Average days on Zillow
  • 34.4% Homes with negative equity (15.4% US Avg) (Mar 31, 2015)
  • 4.8% Delinquent on mortgage (6.0% US Avg) (Mar 31, 2015)

Homes foreclosed (per 10,000)

0.1 homes(Dec 31, 2014) Norfolk
1.3 homes Virginia Beach Metro
3.5 homes United States
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Nearby Cities

Name Median ZHVI
Yorktown $293,500
Seaford $276,000
Virginia Beach $238,600
Name Median ZHVI
Chesapeake $231,800
Moyock $226,100
Knotts Island $181,500
Name Median ZHVI
Hampton $153,400
Newport News $153,200
Portsmouth $137,400

Listings & Sales

Data through May 31, 2015
  • No recent data Median list price / sq ft
  • $127 Median sale price / sq ft
  • No data Listings with price cut
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Norfolk Rentals

Data through May 31, 2015
  • Zillow Rent Index

  • $1,285 Norfolk
    $1,426 Virginia Beach Metro
    $1,367 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • No data Breakeven horizon
  • $1,195 Rent list price
  • $1.00 Rent list price / sq ft
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