Market Intelligence · VA / Norfolk

Norfolk, VA 23518 Housing Market

Homes in Norfolk's 23518 ZIP are valued at a typical price of $342,482, up 1.3% over the past year. The median list price stands at $404,750, with homes spending a median of 36 days on market.

Updated September 2026Median value$342K

The median home value in Norfolk, VA 23518 is $342K as of September 2026, up 1.3% 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 23518 range

$315K to $370K

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

+1.3% over 12 months

Sep 2025$338K

Low $338KHigh $342K

Sep 2026$342K

The numbers

What is the 23518 housing market like?

As of September 2026

Typical home value

$342K

1.3%YoY

Median list price

$405K

5.9%MoM

Days on market

2.7%MoM

Homes for sale

1.1%MoM

Price cuts

22.1%

25.8%MoM

New listings

27.8%MoM

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

The outlook

23518 housing market forecast 2027

+1.8%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 23518 to rise 1.8% by September 2027.

Over the 12 months through September 2026, typical home values in 23518 rose 1.3%, per the Zillow Home Value Index.

Will home prices drop in 23518?

Zillow's forecast does not call for a drop: it expects typical home values in 23518 to rise 1.8% by September 2027, after a 1.3% 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 23518 home prices compare?

23518$342,482
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's 23518 ZIP has 87 homes for sale as of September 2026, with 46 new listings entering the market. The median days on market of 36 suggests steady buyer interest, though the gap between typical home value and median list price indicates sellers are asking above recent comps. About 22.1% of listings have seen price cuts, a sign that some sellers may be testing market appetite. For homeowners considering a sale, the modest value growth combined with price reductions on a meaningful share of listings suggests it is a moderate seller's market, not a breakout one.

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Down payment20% · $68,496

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Common questions

What people ask us.

What is the typical home value in Norfolk 23518?

The typical home value is $342,482, up 1.3% over the past year.

How many homes are currently for sale in 23518?

There are 87 homes for sale as of September 2026, with 46 new listings added during that month.

How long do homes typically stay on the market in this ZIP?

The median days on market is 36 as of September 2026.

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