Market Intelligence · VA / Norfolk

Norfolk, VA 23507 Housing Market

The typical home value in Norfolk, VA 23507 is $480,295, up 0.9% over the past year. The median list price is $419,900, and homes spend a median of 33 days on the market. There are 28 homes for sale right now.

Updated August 2026Median value$480K

The median home value in Norfolk, VA 23507 is $480K as of August 2026, up 0.9% 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 23507 range

$442K to $519K

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

+0.9% over 12 months

Typical home value in 23507 over the last 12 months: $476K in Aug 2025 to $480K in Aug 2026 (+0.9%).

Aug 2025$476K

Aug 2026$480K

The numbers

What is the 23507 housing market like?

Typical home value

$480K

Up0.9%YoY

Median list price

$420K

Down6.6%MoM

Days on market

33

Down35.3%MoM

Homes for sale

28

Up27.3%MoM

Price cuts

10.0%

Down26.3%MoM

New listings

12

Down14.3%MoM

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

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The comparison

How do 23507 home prices compare?

  • 23507$480,295
  • 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

The 23507 market shows steady conditions. Typical home values sit at $480,295, with a modest gain of 0.9% over the past year. The median list price of $419,900 comes in below the typical value, and homes move in a median of 33 days. With 28 homes for sale and 12 new listings, inventory is limited. Only 10.0% of listings have taken a price cut. For a seller, the data points to a stable market where well priced homes are still selling without deep discounts.

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