Market Intelligence · VA / Norfolk

Norfolk, VA 23505 Housing Market

The typical home value in Norfolk 23505 is $327,470, up 2.3% over the past year. The median list price sits at $355,000, with homes taking a median of 42 days to sell as of September 2026.

Updated September 2026Median value$327K

The median home value in Norfolk, VA 23505 is $327K as of September 2026, up 2.3% 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 23505 range

$301K to $354K

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

+2.3% over 12 months

Sep 2025$320K

Low $320KHigh $327K

Sep 2026$327K

The numbers

What is the 23505 housing market like?

As of September 2026

Typical home value

$327K

2.3%YoY

Median list price

$355K

3.8%MoM

Days on market

10.6%MoM

Homes for sale

8.2%MoM

Price cuts

15.6%

49.5%MoM

New listings

37.5%MoM

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

The outlook

23505 housing market forecast 2027

+2.0%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 23505 to rise 2.0% by September 2027.

Over the 12 months through September 2026, typical home values in 23505 rose 2.3%, per the Zillow Home Value Index.

Will home prices drop in 23505?

Zillow's forecast does not call for a drop: it expects typical home values in 23505 to rise 2.0% by September 2027, after a 2.3% 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 23505 home prices compare?

23505$327,470
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

Norfolk 23505 has 56 homes for sale, with 20 new listings entering the market recently as of September 2026. The gap between typical home value and median list price suggests sellers are testing higher asking points. About 15.6% of listings have seen price cuts, indicating some adjustment as homes linger. With a median time of 42 days on market, this ZIP is seeing moderate activity. Sellers should expect to price competitively and be ready for negotiation.

Monthly payment

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Down payment20% · $65,494

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Common questions

What people ask us.

What is the typical home value in Norfolk 23505?

The typical home value is $327,470 as of September 2026, up 2.3% over the past year.

How long do homes typically take to sell in this ZIP?

Homes take a median of 42 days on market as of September 2026.

What is the median list price in Norfolk 23505?

The median list price is $355,000 as of September 2026.

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