Market Intelligence · VA / Norfolk

Norfolk, VA 23508 Housing Market

The typical home value in Norfolk, VA 23508 is $382,097, up 0.3% over the past year as of 2026-08-01. The median list price sits at $433,200, and homes spend a median of 35 days on market. There are 55 homes for sale in the ZIP.

Updated August 2026Median value$382K

The median home value in Norfolk, VA 23508 is $382K as of August 2026, up 0.3% 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 23508 range

$352K to $413K

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

+0.3% over 12 months

Typical home value in 23508 over the last 12 months: $381K in Aug 2025 to $382K in Aug 2026 (+0.3%).

Aug 2025$381K

Aug 2026$382K

The numbers

What is the 23508 housing market like?

Typical home value

$382K

Up0.3%YoY

Median list price

$433K

Up1.9%MoM

Days on market

35

Down12.5%MoM

Homes for sale

55

Up3.8%MoM

Price cuts

28.9%

Up60.7%MoM

New listings

28

Down6.7%MoM

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

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The comparison

How do 23508 home prices compare?

  • 23508$382,097
  • 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, VA 23508 shows a steady market with modest appreciation. The typical home value of $382,097 is up 0.3% over the past year, which is slow but positive growth. Sellers are listing at a median of $433,200, above the typical value, and homes are moving in a median of 35 days. With 55 homes for sale and 28 new listings, buyers have a reasonable selection, and 28.9% of listings have taken a price cut. For a seller, the data suggests pricing realistically from the start, since buyers are active but not willing to chase inflated asking prices.

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