Market Intelligence · VA / Norfolk

Norfolk, VA 23503 Housing Market

Typical home value in Norfolk 23503 stands at $315,126, up 1.6% over the past year. The median list price is $365,000, with homes spending 43 days on market as of September 2026.

Updated September 2026Median value$315K

The median home value in Norfolk, VA 23503 is $315K as of September 2026, up 1.6% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 23503 range

$290K to $340K

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

+1.6% over 12 months

Sep 2025$310K

Low $310KHigh $315K

Sep 2026$315K

The numbers

What is the 23503 housing market like?

As of September 2026

Typical home value

$315K

1.6%YoY

Median list price

$365K

1.7%MoM

Days on market

0.0%MoM

Homes for sale

111

1.8%MoM

Price cuts

33.3%

15.8%MoM

New listings

26.7%MoM

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

The outlook

23503 housing market forecast 2027

+1.9%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 23503 to rise 1.9% by September 2027.

Over the 12 months through September 2026, typical home values in 23503 rose 1.6%, per the Zillow Home Value Index.

Will home prices drop in 23503?

Zillow's forecast does not call for a drop: it expects typical home values in 23503 to rise 1.9% by September 2027, after a 1.6% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 23503 home prices compare?

23503$315,126
Norfolk$318,192
Virginia$328,255
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Norfolk: 12 ZIPs; Virginia: 757 ZIPs; United States: 26,262 ZIPs).

Context

The 23503 ZIP had 111 homes for sale in September 2026, with 44 new listings entering the market that month. The median list price of $365,000 sits well above the typical home value of $315,126, and homes are taking 43 days to sell. A notable 33.3% of listings carried a price cut, suggesting sellers are adjusting expectations in a market that favors patience. For homeowners considering a sale, expect to negotiate and allow time to find the right buyer.

Monthly payment

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Home price

Down payment20% · $63,025

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Common questions

What people ask us.

What is the typical home value in 23503?

The typical home value in Norfolk 23503 is $315,126, which has increased 1.6% over the past year.

How many homes are currently for sale in 23503?

There are 111 homes for sale in 23503 as of September 2026, with 44 new listings that month.

How long do homes typically stay on the market in 23503?

Homes in 23503 spend a median of 43 days on market before selling.

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Nearby ZIP markets.

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