Market Intelligence · VA / Norfolk

Norfolk, VA 23505 Housing Market

The typical home value in Norfolk's 23505 ZIP code is $329,245, up 2.0% over the past year as of 2026-08-01. The median list price sits at $369,000, and homes are spending a median of 47 days on market.

Updated August 2026Median value$329K

The median home value in Norfolk, VA 23505 is $329K as of August 2026, up 2.0% 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 23505 range

$303K to $356K

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

+2.0% over 12 months

Typical home value in 23505 over the last 12 months: $323K in Aug 2025 to $329K in Aug 2026 (+2.0%).

Aug 2025$323K

Aug 2026$329K

The numbers

What is the 23505 housing market like?

Typical home value

$329K

Up2.0%YoY

Median list price

$369K

Up6.3%MoM

Days on market

47

Down2.1%MoM

Homes for sale

61

Up3.4%MoM

Price cuts

10.4%

Down58.4%MoM

New listings

32

Up33.3%MoM

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

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The comparison

How do 23505 home prices compare?

  • 23505$329,245
  • 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 were 61 homes for sale in 23505 as of 2026-08-01, with 32 new listings hitting the market. The median list price is $369,000, while the typical home value is $329,245, up 2.0% over the past year. Homes are moving at a measured pace, with a median of 47 days on market. Only 10.4% of listings have taken a price cut, which suggests most sellers are holding close to their asking prices. For a seller, this is a steady market where realistic pricing matters more than aggressive pricing.

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