Downtown Norfolk

Downtown Norfolk's housing market in early 2025 is experiencing a buyer's market. The median sale price is approximately $322,000, reflecting a 19% decrease year-over-year. Homes in this area typically sell after 78 days on the market, compared to 62 days the previous year. The median sale price per square foot is around $255, marking a 7.1% increase from the previous year. The sale-to-list price ratio is about 98.7%, indicating that homes are selling slightly below the asking price on average. The market is characterized by increased inventory and longer selling times.