Market Intelligence · VA / Norfolk

Norfolk, VA 23507 Housing Market

In Norfolk's 23507 ZIP code, the typical home value is $478,728, up 0.9% over the past year. The median list price stands at $514,450, with homes spending a median of 59 days on the market as of September 2026.

Updated September 2026Median value$479K

The median home value in Norfolk, VA 23507 is $479K as of September 2026, up 0.9% 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.

Sell without the wait

Sell your Norfolk home for cash.

A competitive, no-obligation cash offer from our institutional network. No repairs, no showings, close on your timeline. Most sellers get their cash offer within 24 hours.

Typical 23507 range

$440K to $517K

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.

Not sure cash is the right move? Discuss your options with a licensed local pro, free.

Asset monitoring

Track your home's value.

A free monthly briefing with your estimated value and 23507 market stats. Unsubscribe anytime.

See how a cash offer works citywide: Sell your house fast in Norfolk, VA.

12-month value trend

+0.9% over 12 months

Sep 2025$475K

Low $475KHigh $480K

Sep 2026$479K

The numbers

What is the 23507 housing market like?

As of September 2026

Typical home value

$479K

0.9%YoY

Median list price

$514K

22.5%MoM

Days on market

78.8%MoM

Homes for sale

10.7%MoM

Price cuts

21.6%

116.5%MoM

New listings

16.7%MoM

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

The outlook

23507 housing market forecast 2027

+1.6%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 23507 to rise 1.6% by September 2027.

Over the 12 months through September 2026, typical home values in 23507 rose 0.9%, per the Zillow Home Value Index.

Will home prices drop in 23507?

Zillow's forecast does not call for a drop: it expects typical home values in 23507 to rise 1.6% by September 2027, after a 0.9% 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.

Free home value report

See what your 23507 home is worth.

See your estimated value and a real cash offer, side by side. No obligation, about a minute.

The comparison

How do 23507 home prices compare?

23507$478,728
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 23507 market holds 31 homes for sale as of September 2026, with 10 new listings entered during the period. About 21.6% of current listings carry a price cut. Homes are moving at a measured pace with a median of 59 days on market. The modest year-over-year appreciation of 0.9% suggests a balanced market where sellers should price realistically and be prepared for steady rather than rapid movement.

Monthly payment

Estimate your monthly payment.

Home price

Down payment20% · $95,746

Term

Rate (%)

Common questions

What people ask us.

What is the typical home value in 23507?

The typical home value in Norfolk's 23507 ZIP code is $478,728, up 0.9% over the past year as of September 2026.

How long do homes take to sell in 23507?

Homes in 23507 spend a median of 59 days on the market as of September 2026.

Are there many homes for sale in 23507?

As of September 2026, there are 31 homes for sale in 23507, with 10 new listings in that period.

Discover

Nearby ZIP markets.

Keep reading