The Downtown Norfolk housing market is somewhat competitive. The median sale price of a home in Downtown Norfolk was $295K last month, down 2.0% since last year. The median sale price per square foot in Downtown Norfolk is $270, up 2.1% since last year.
What is the housing market like in Downtown Norfolk today?
In March 2024, Downtown Norfolk home prices were down 2.0% compared to last year, selling for a median price of $295K. On average, homes in Downtown Norfolk sell after 61 days on the market compared to 45 days last year. There were 17 homes sold in March this year, down from 26 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$295,000
-2.0% YoY | Mar 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Mar 2024
Growth
% YoY
Downtown Norfolk, VA
$295,000
-2.0%
United States
To compare other locations to the Downtown Norfolk and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in Norfolk add value to a home.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Downtown Norfolk housing market?
Downtown Norfolk is somewhat competitive. Homes sell in 61.5 days.
0
100
36
Somewhat Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 6 months
Some homes get multiple offers.
The average homes sell for about 2% below list price and go pending in around 62 days.
Hot homes
can sell for around list price and go pending in around 30 days.
This area's enrollment policy is not based solely on geography. Please check the school district website for more information.
GreatSchools Rating
3/10
Tidewater Park Elementary School
Public • 3-5
305
Students
4 reviews
NR
P.B. Young Sr. Elementary School
Public • PreK-2
486
Students
1 reviews
NR
Gov. School For the Arts
Public • N/A • Choice school
-
Students
N/A
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Downtown Norfolk housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Downtown Norfolk.
Risk Factor
Flood Factor - Extreme
98% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Downtown Norfolk has an extreme risk of flooding. 562 properties in Downtown Norfolk are likely to be
severely affected
by flooding over the next 30 years. This represents 98% of all properties in Downtown Norfolk. Flood risk is increasing faster than the national average.
100% of properties are at severe
risk of a severe wind event over the next 30 years
Wind Factor
Downtown Norfolk has a Severe Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Downtown Norfolk is most at risk from hurricanes. 750 properties in Downtown Norfolk have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 128 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 145 mph.
98% of properties are at extreme
risk of heat over the next 30 years
Heat Factor
Downtown Norfolk has an extreme risk from heat. This is due to
"feels like" temperatures
increasing, and because 98% of homes in Downtown Norfolk have an Extreme Heat Factor®.
Downtown Norfolk is expected to see a 142% increase in the number of days over 106ºF over the next 30 years. Downtown Norfolk is expected to experience 8