Market Intelligence · VA / Norfolk

Norfolk, VA 23504 Housing Market

The typical home in Norfolk, VA 23504 is worth $273,254, up 0.8% over the past year. Sellers are listing at a median price of $323,000, and homes sit on the market for a median of 53 days. As of 2026-08-01, there are 63 homes for sale in the ZIP.

Updated August 2026Median value$273K

The median home value in Norfolk, VA 23504 is $273K as of August 2026, up 0.8% 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 23504 range

$251K to $295K

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

+0.8% over 12 months

Typical home value in 23504 over the last 12 months: $271K in Aug 2025 to $273K in Aug 2026 (+0.8%).

Aug 2025$271K

Aug 2026$273K

The numbers

What is the 23504 housing market like?

Typical home value

$273K

Up0.8%YoY

Median list price

$323K

Up1.0%MoM

Days on market

53

Up32.5%MoM

Homes for sale

63

Up1.6%MoM

Price cuts

23.0%

Down3.8%MoM

New listings

28

Up27.3%MoM

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

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The comparison

How do 23504 home prices compare?

  • 23504$273,254
  • 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

Norfolk's 23504 market shows a gap between asking prices and actual home values. The median list price of $323,000 sits well above the typical home value of $273,254. With 63 homes for sale and 28 new listings coming on as of 2026-08-01, buyers have options, and homes take a median of 53 days to sell. A full 23.0% of listings have taken a price cut. For a seller, the honest read is that pricing high against a flat market tends to mean waiting longer and cutting later.

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