23518 Housing Market Report January 2025•Norfolk County, Virginia

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Housing Prices in 23518, VA

How much do homes in 23518, VA cost?

Median List Price

Median List Price
This is the middle price for which all homes in a given area are listed. Half of all the homes sold were below this price, and half were above.
$406,500$241/SqFt
+$1,550
0.4%

Based on all homes listed in January 2025

Insight

The list price of homes in 23518 has remained the same since December.

Summary: The median home list price in 23518 was $406,500 in January 2025, up 0.4% from the previous month, and the median price per square foot was $241.

Median List Price By City

Median List Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
23502
+4.1%
23455
+4.0%
23518
0.4%
23503
0.2%
23513
0.0%

Median List Price By Bedrooms

Median List Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2024Jan 2025Change YoY
1-$200K
N/A
2$295K$277K
-6.1%
3$365K$354.9K
-2.8%
4$539.9K$510K
-5.5%
5$649K$649K
0.0%

Summary: 23518 housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes decreased by -6.1%. The home price for 3 bedroom homes decreased by -2.8%. The home price for 4 bedroom homes decreased by -5.5%. The home price for 5 bedroom homes did not change.

Housing supply in 23518, VA

How many homes are available in 23518, VA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
211Last MonthJan 2025
1862 months agoDec 2024
+13.4 %
Change MoMDec – Jan

Summary: The 23518 real estate market had 211 homes for sale in Jan 2025, a 13.4 % increase compared to Dec 2024.

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsDec 2024Jan 2025Change MoM
101
+100.0%
21620
+25.0%
37380
+9.6%
48295
+15.9%
51515
0.0%

Summary: 23518 housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +100.0%. The inventory for 2 bedroom homes increased by +25.0%. The inventory for 3 bedroom homes increased by +9.6%. The inventory for 4 bedroom homes increased by +15.9%. The inventory for 5 bedroom homes remained the same.

Days on Market for 23518, VA

How long does it take to sell a home in 23518, VA?

Breakdown of Home Sale Times

Under 30 Days4 Homes

30 – 90 Days8 Homes

Over 90 Days4 Homes

Insight

Avg time on Rocket Homes in 23518 has remained consistent over time.

Summary: During January 2025, 16 homes were sold in 23518; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Average Listing Age

Average Listing Age
This is the average number of days an active home has been on the market.
Last Month1 month agoChange MoM
85 DaysLast MonthJan 2025
78 Days1 month agoDec 2024
+9.0 %
Change MoMDec – Jan

Summary: Homes in 23518 had an average listing age of 85 days in Jan 2025, up by 9.0% compared to the previous month.

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Newest Listings in 23518, VA

What homes are available in 23518, VA?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from Real Estate Information Network, for the period 12/01/2024 - 02/01/2025

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Last updated on: 2/8/2025, 9:20:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.