Is Norfolk, VA 23505 a buyer’s or seller’s market?

Seller’s market 3 months ending August 31, 2026 · Source: Redfin

Norfolk is a seller’s market. With about 2 months of supply and 33% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.

Months of supply2Under 4 months = seller’s market

Sold above original list32.9%Share of sales, last 3 months

Median sale-to-list99.8%Sold price ÷ list price

Median days on market25Listing to accepted offer

Median price per sq ft$221▲ +3.7% vs. last year

Run the numbers for 23505

Prefilled for 23505Can I win this house?Multiple-offer likelihood for a listing Prefilled for 23505Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Norfolk 23502Seller’s market $209 /sq ft Norfolk 23503Seller’s market $223 /sq ft Norfolk 23504Seller’s market $182 /sq ft Norfolk 23507Seller’s market $223 /sq ft Browse all markets →

Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology