Norfolk 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 is $130, which is lower than the Virginia Beach Metro average of $131. The median price of homes currently listed in Norfolk is $189,900 while the median price of homes that sold is $197,350. The median rent price in Norfolk 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 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 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 homeowners underwater on their mortgage is 30.9%, which is higher than Virginia Beach Metro at 25.8%.

more
Relative ZHVI
- +

Norfolk 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
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Norfolk Market Health

Data through Jul 31, 2014
  • No recent data
  • No data Average days on Zillow
  • 30.9% 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(Mar 31, 2014) Norfolk
1.7 homes Virginia Beach Metro
4.4 homes United States
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Yorktown $299,900 Seaford $284,900 Virginia Beach $243,400
Chesapeake $237,900 Moyock $233,500 Knotts Island $195,300
Newport News $155,000 Hampton $150,300 Portsmouth $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
29.9%
Sold below listing
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Norfolk 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
$1,256 Norfolk
$1,418 Virginia Beach Metro
$1,318 United States
  • 4.0 Breakeven horizon What's This?  
    Close

    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
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading