Market Intelligence · VA / Norfolk

Norfolk, VA 23508 Housing Market

The typical home in Norfolk 23508 is worth $379,098, up 0.7% over the past year. Homes currently list for a median of $439,000 and spend roughly 43 days on the market.

Updated September 2026Median value$379K

The median home value in Norfolk, VA 23508 is $379K as of September 2026, up 0.7% 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 23508 range

$349K to $409K

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

+0.7% over 12 months

Sep 2025$377K

Low $376KHigh $379K

Sep 2026$379K

The numbers

What is the 23508 housing market like?

As of September 2026

Typical home value

$379K

0.7%YoY

Median list price

$439K

1.3%MoM

Days on market

22.9%MoM

Homes for sale

5.5%MoM

Price cuts

27.8%

3.9%MoM

New listings

28.6%MoM

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

The outlook

23508 housing market forecast 2027

+2.0%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 23508 to rise 2.0% by September 2027.

Over the 12 months through September 2026, typical home values in 23508 rose 0.7%, per the Zillow Home Value Index.

Will home prices drop in 23508?

Zillow's forecast does not call for a drop: it expects typical home values in 23508 to rise 2.0% by September 2027, after a 0.7% 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 23508 home prices compare?

23508$379,098
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 23508 had 52 homes for sale as of September 2026, with 20 new listings entering the market. The median list price of $439,000 sits well above the typical home value of $379,098. Homes are taking 43 days to sell on average, a moderate pace. About 27.8% of listings have seen price cuts. For sellers, this suggests a measured market where pricing strategy and condition matter more than timing alone.

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Down payment20% · $75,820

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Common questions

What people ask us.

What is the typical home value in Norfolk 23508?

The typical home value is $379,098, which has increased 0.7% over the past year.

How many homes are for sale in Norfolk 23508?

As of September 2026, there are 52 homes for sale, including 20 new listings.

How long do homes typically stay on the market here?

The median days on market is 43 days as of September 2026.

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Nearby ZIP markets.

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