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How competitive is the Norfolk housing market?

P

Primpted Housing Analyst

Updated monthly · Data through August 2026 · v268

Data-backed
Sold Score
38/100
YoY Challenging Market Conditions
Pending ratio
0.31
YoY contracts vs active
Inventory YoY
+0.1%
YoY active listings
Median DOM
54
YoY days on market
Price cuts
43.8%
YoY of active listings
Norfolk is moderately competitive as of August 2026, with a Sold Score of 38/100 (Challenging Market Conditions). **Pending ratio** is 0.31 (contracts vs. active inventory) — anything above 0.40 is healthy demand, below 0.20 is slow. **Inventory change YoY** is +8.7% — more choices for buyers than a year ago. **Median days on market** is 54. Faster than 30 days means buyers are deciding quickly. **Price-reduction share** is 43.8% of active listings — above 25% signals sellers are widely overshooting list price. — Live indicators (August 2026): Sold Score: 38/100 (Challenging Market Conditions) · Pending ratio: 0.31 · Inventory YoY: +8.7% · Median days on market: 54 · Sellers cutting price: 43.8% · Median listing price: $310,000 (+5.1% YoY)

Norfolk snapshot

As of the latest 2026 data
Median listing
$310K
YoY +0.1%
Active inventory
137
YoY +0.1%
Median DOM
54
YoY -0.2%
Pending ratio
0.31
YoY -0.1%
Price-reduced
23.7%
YoY +0.0%

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