Norfolk, VA Housing Market Update February 2025: Home Prices, Sales Trends & Seller Insights
Norfolk, VA Housing Market Update 2025: Prices, Trends & Seller Insights
Thinking about selling your home in Norfolk? 📢 The 2025 real estate market is shaping up to be an exciting one, with strong buyer demand, rising home prices, and fast-moving sales.
Let’s dive into Norfolk’s latest housing market trends, pricing insights, and expert forecasts to help you make the best decision for your home sale.
Current Market Overview
🔹 Median Home Price: $335,000 (up 3.8% YoY)
🔹 Average Days on Market (DOM): 37 days (homes selling quickly!)
🔹 Active Listings: 18% more homes on the market vs. last year
🔹 Price Per Square Foot: $195/sq ft (a 4.1% increase)
📈 What does this mean for you?
If you're a seller, buyer activity is still strong despite increasing inventory. Well-priced homes are getting offers quickly!
Price & Market Trends Over Time
Norfolk Housing Market: 24-Month Breakdown
Norfolk’s real estate market has been steadily appreciating over the past two years, and homes are selling quickly with strong buyer demand.
Home Price Trends
✔ Jan 2023: $305,000
✔ Dec 2023: $310,000
✔ Jan 2024: $315,000
✔ Dec 2024: $325,000
✔ Jan 2025: $315,000 (Up 5% YoY)
📈 What does this mean for you?
Your home is worth more than it was a year ago! Buyers are actively searching for homes, and well-priced listings are getting offers fast.
Active Listings (Homes for Sale)
✔ Dec 2023: 815 homes for sale
✔ Dec 2024: 866 homes for sale
✔ Jan 2025: 852 active listings
📊 Takeaway:
Inventory is increasing, which means sellers need a strong pricing & marketing strategy to stand out.
How Fast Are Homes Selling? (Days on Market)
✔ Jan 2024: 45 days on market
✔ Jan 2025: 40 days on market
🚀 Sellers win when homes sell fast! Buyers are still motivated, and homes in great condition, priced right, and marketed effectively are selling in just 40 days on average.
💡 Interested in learning about your home's market value? Request a free home value report today:
🔹 📩 Get a Free Home Value Report
💡 Key Takeaway:
✔ Home Prices Are Up – Norfolk +5%
✔ Homes Are Selling Fast – Norfolk: 40 Days
Home values in Norfolk continue to appreciate, but more listings are hitting the market, meaning sellers should focus on strategic pricing and marketing.
Norfolk Neighborhood Market Insights
💡 Wondering what your home is worth? 📩 Get a Free Home Value Report
Norfolk Market Forecast & Seller Predictions
✔ Home Prices: Expected to increase modestly through 2025.
✔ Interest Rates: Stabilizing, making homeownership more accessible.
✔ Inventory Trends: More homes will enter the market—timing your sale is key!
✔ Best Time to Sell: Spring & summer remain peak seasons.
📢 Expert Insights:
'Norfolk’s market remains competitive, with increasing inventory providing more options for buyers. Properly priced homes are more likely to attract strong interest in today’s market.' – NAR Chief Economist, Lawrence Yun
Ready to Sell in Norfolk? Get Your Home’s Value Instantly!
📍 Find out what your home is worth!
📩 Enter your address & email for a free home valuation:
📞 Let’s talk about your home’s selling potential!
📩 Schedule a Free Seller Consultation
🌐 Visit: JenniferDawnRealEstate.com/Seller-Resources
Key Takeaways for Norfolk Sellers:
✔ Home Prices Are Still Rising – Up 3.8% 📈
✔ Homes Are Selling Quickly – Avg. 37 days on market ⏳
✔ More Homes Are Listing – Competition is growing! 🏡
✔ Buyers Are Still Active – But strategic pricing is key.
Selling a home in Norfolk? Let’s connect and create your winning strategy! 🚀
Norfolk Housing Market Sources:
National Association of REALTORS® (NAR) – www.nar.realtor
Virginia REALTORS® (VAR) – www.virginiarealtors.org
REIN MLS (Real Estate Information Network, Inc.) – www.reinmls.com
Redfin Norfolk Market Report – www.redfin.com
Realtor.com Norfolk Overview – www.realtor.com
Movoto Norfolk Market Trends – www.movoto.com
Zillow Home Values Norfolk – www.zillow.com
The information provided in these blog posts is for informational purposes only and is based on publicly available data from reputable real estate sources as of February 2025. Market conditions are subject to change, and individual real estate transactions may vary. For a personalized home valuation and professional advice tailored to your situation, please consult a licensed real estate professional. Jennifer Dawn Real Estate does not guarantee the accuracy of third-party data sources. Always verify market trends with a trusted real estate advisor before making any real estate decisions.
