$76,900 New Construction
- 3 Beds
- 2 Baths
- 924 Sq Ft
3 Nichols Place, Newport News, VA 23606
Jennifer Garrett Warwick
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Why Live in Norfolk
The Chrysler Museum of Art stands as a cultural cornerstone in Norfolk, featuring an extensive collection and renowned glass studio. Maritime history comes alive at Nauticus, where visitors can explore the Battleship Wisconsin and interactive naval exhibits. The 175-acre Norfolk Botanical Garden provides peaceful walking paths through themed gardens, while the Elizabeth River Trail creates scenic routes for cycling and running along the waterfront. The NEON District showcases local artists through colorful murals and galleries, complementing the city's rich cultural scene at venues like the Virginia Opera and Symphony Orchestra.
The Norfolk housing market includes diverse options across distinct neighborhoods. Colonial Place features single family homes with a median price of $382,500, while Larchmont/Edgewater commands a median of $489,500 for similar properties. West Ghent represents a premium area with single family homes at a median of $550,000. Downtown Norfolk appeals to condo buyers, with one-bedroom units at a median of $235,900 and two-bedrooms at $335,000. The overall median sale price in Norfolk sits at $315,000.
Norfolk's cost of living registers 6.3% below the national average. A family with school-age children should target a $100,000 annual salary, while renters need approximately $55,000 to live comfortably. The property tax rate of 1.01% compares favorably to Newport News at 1.03%, though it exceeds Virginia Beach's 0.8%. Groceries cost 1.6% below the national average, and gas prices average $3.114 per gallon.
The education landscape includes Norfolk Academy and Christ the King Catholic School, both rated A+ by Niche. Norfolk State University and Old Dominion University provide higher education options. Public transportation includes The Tide light rail system, Hampton Roads Transit buses, and the Elizabeth River Ferry connecting Norfolk to Portsmouth.
Home Trends in Norfolk, VA
On average, homes in Norfolk, VA sell after 34 days on the market compared to the national average of 53 days. The median sale price for homes in Norfolk, VA over the last 12 months is $324,900, down 3% from the median home sale price over the previous 12 months.
Housing Trends
Median Sale Price
$324,900
Median Single Family Sale Price
$325,000
Median Townhouse Sale Price
$403,898
Median 2 Bedroom Sale Price
$250,000
Median 1 Bedroom Sale Price
$204,500
Average Price Per Sq Ft
$216
Number of Homes for Sale
452
Last 12 months Home Sales
2,950
Months of Supply
1.80
Median List Price
$325,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
-3%
Popular Home Searches in Norfolk, VA
In Norfolk, buyers often prioritize proximity to the water, military bases, and homes with historic charm or modern upgrades.
- Want to be near the coast? Explore waterfront homes or listings with a boat dock along the bay or Elizabeth River.
- Prefer classic character? Browse craftsman style or Victorian homes in neighborhoods like Ghent and Colonial Place.
- Need something practical? Check out single-family homes or duplexes with a garage or yard.
- Looking for outdoor living? Consider homes with a deck or patio for enjoying mild coastal weather.
- Interested in newer options? Search for new construction homes or those with kitchen islands and modern layouts.
Norfolk Types of Homes for Sale
Norfolk Homes by Price
Norfolk Real Estate Listings
More About Living in Norfolk
Popular Searches in Norfolk
Homes in Nearby Neighborhoods
Homes in Nearby Cities
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