Market Intelligence · VA / Norfolk

Norfolk, VA 23502 Housing Market

The typical home value in Norfolk's 23502 ZIP code is $311,727, up 1.4% over the past year. Sellers are asking a median list price of $349,000, and homes are spending a median of 29 days on the market.

Updated August 2026Median value$312K

The median home value in Norfolk, VA 23502 is $312K as of August 2026, up 1.4% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 23502 range

$287K to $337K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+1.4% over 12 months

Typical home value in 23502 over the last 12 months: $307K in Aug 2025 to $312K in Aug 2026 (+1.4%).

Aug 2025$307K

Aug 2026$312K

The numbers

What is the 23502 housing market like?

Typical home value

$312K

Up1.4%YoY

Median list price

$349K

Up4.6%MoM

Days on market

29

Down29.3%MoM

Homes for sale

51

Up13.3%MoM

Price cuts

29.5%

Up35.9%MoM

New listings

36

Up63.6%MoM

Sources · Zillow ZHVI (August 2026) / Realtor.com (August 2026) / FRED (September 2026)

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The comparison

How do 23502 home prices compare?

  • 23502$311,727
  • Norfolk$321,871
  • Virginia$330,987
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Norfolk: 12 ZIPs; Virginia: 757 ZIPs; United States: 26,265 ZIPs).

Context

There are 51 homes for sale in 23502, with 36 new listings coming on the market as of 2026-08-01. The median list price is $349,000, while the typical home value sits at $311,727, up 1.4% over the past year. Homes are moving at a median of 29 days on market, so buyers are acting but not instantly. About 29.5% of listings have taken a price cut, which suggests some sellers are starting too high and adjusting. For a seller, the practical lesson is to price close to what the local data supports from day one.

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