Sales Decline in Norfolk City Real Estate Market

In this week's report, the number of homes sold in the Norfolk City market dropped to 187 over the past 30 days. It marked a decrease of 10.1% from last week's report and another period below the monthly average. On the other hand, close-by Virginia Beach City registered 530 home sales in the same period, the most of all surrounding counties. The median sales price rose to $172,000 over the latest reporting period for Norfolk City, up from $168,700. Norfolk City is a definite buyer's market, due to a big 10 months of inventory left and aided by the dip in sales.

For the best bang for your buck, check out these listings that recently had significant price cuts in Norfolk City:

$999K   $325K   $699K  

Get started right now by checking out Norfolk City homes for sale or reviewing Norfolk City real estate trends.

Demographic facts about Norfolk City:

  • 49 years old is the median age of all the homes in the area.
  • This area usually gets 7.1 inches of snow each year. (U.S. average: 25)
  • The rating for job market growth is 43. (Scale: 1 = Worst, 100 = Best)
  • The average expenditures for each student in the area is $5,764. ($5,691 = national average)

Data reported through 10/12/2016

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Ask a local expert about this area:
World Class Rlty & Asc REALTOR
Snapped 55 homes in this area
Lonnie Bush Real Estate LLC
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Shaffer Realty LLC
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