Norfolk Real Estate - Find Your Perfect Home For Sale!
Norfolk - Town vs. County Stats
Avg Price in Norfolk: $266,100 / County Avg $266,100
Avg Taxes in Norfolk: $3,400 / County Avg $3,400
Avg Sq. Ft. in Norfolk: 1,859 / County Avg 1,859
Avg Price per/ft2 in Norfolk: $143 / County Avg $143
Avg Walkscore in Norfolk: 44 / County Avg 44
Avg Year Built in Norfolk: 1962 / County Avg 1962
Avg Days on Website in Norfolk: 77 / County Avg 77
Norfolk Real Estate Market Health
Norfolk, Virginia is a thriving independent city filled with elegant charm and modern innovation. If you’re looking to relocate to the state of Virginia, we would love to show you why Norfolk should be one of your top picks.
A Little about Norfolk
Norfolk, Virginia is situated right in the heart of Hampton Roads and is bordered by the Elizabeth River, Chesapeake Bay, the city of Chesapeake, and Virginia Beach. It has an estimated population of about 246,392, ranking it the second most populous city in the entire state of Virginia – second only to Virginia Beach.
The overall area is 66 square miles in size, with seven of those miles making up the Chesapeake Bay beachfront. Norfolk has 144 miles of shoreline, including the Bay, rivers, and lakes. There are over 120 different neighborhoods within the city, all packed with history. Norfolk is recognized as the historic, financial, and cultural center of the Hampton Roads area.
A Brief History
Norfolk happens to be one of Hampton Roads’ oldest established cities. At the suggestion of Adam Thoroughgood, a highly influential and inspirational community leader who was integral in the development of the South Hampton Roads area, the city was named after his place of birth in England.
Officially recognized in 1705, it would establish itself 70 years later as the most prosperous city in the entire state. As a port town, Norfolk served a vital role in exporting items to the British Isles and many other destinations.
Most of the city was destroyed from an assault led by Lord Dunmore on January 1, 1776. With more than 800 demolished buildings, nearly two-thirds of the city was lost. In the month following, the Patriots decided to raze what little was left. All that remains from the pre-1776 attack are the walls of Saint Paul’s Episcopal Church.
Post 1776, Norfolk continued to face hardship. Another widespread disaster in the form of a fire took out around 300 buildings in 1804, which set the local economy back even further. Residents saw the effects of a prolonged recession throughout the 1820s.
At the turn of the century, things were about to improve as Norfolk was considered a favorable location for the largest naval base in the world. The Naval Air Station Hampton Roads was built just in time for World War I.
Norfolk began to grow in size through small acquisitions during the first half of the 20th century and to 1988, when it settled into its modern-day boundaries.
Why Move to Norfolk?
Norfolk has so much to offer its residents; you cannot possibly go wrong here. If you are in the military, not only do we have the largest naval base in the world, but we are also home to NATO’s North American base. As a harbor town, Norfolk houses the USS Wisconsin Battleship and is a hot destination for cruise ships thanks to our downtown terminal.
Speaking of downtown, ours has been ranked within the top 10 booming downtowns according to USA Today. Norfolk has housing and retail locations that have been around for decades, all supported by a financially growing economy.
If the military isn’t your thing, you can still find plenty of success as a business owner in Norfolk. In fact, it was included in a top 10 list of markets for business relocation and expansion in Expansion Management Magazine.
For anyone looking to attend university, there are plenty of options to choose from, including Norfolk State University, Old Dominion University, and a recent addition to the downtown area with the Tidewater Community College campus. The Eastern Virginia Medical School, along with all four of their research institutes are also within the city limits.
Healthcare facilities are abundant in Norfolk. Bon Secours DePaul Medical Center, Sentara Health System, and Children’s Hospital of the King’s Daughters are all located here.
If you love nature, this is the perfect city! Norfolk is known as a Tree City for its lush greenery. There are extensive trees and flowers within city’s neighborhoods, and you cannot forget the Norfolk Botanical Garden, guaranteed to be a wonderful place for any nature lover.
Life in Norfolk
It should come as no surprise that Norfolk is full of historic neighborhoods like Ocean View and Willoughby Spit. Many spots, such as Berkley, used to be older towns and cities within the area. Downtown, Fairmount Park, and Ghent are just a few examples of revitalized neighborhoods reflecting some of the change Norfolk has undergone as a whole.
Like Virginia Beach, Norfolk’s climate is humid subtropical, lending the area mild temperatures with moderately changing seasons. Expect spring to come around March, with warm days that cool off at night. Summer is hot, but rarely exceeds 100-degree temperatures, and autumn cools down a bit while remaining somewhat warm. Winter is also very manageable with average temperatures ranging from the high 40s to mid-50s.
If you’re looking for work in Norfolk, it’s helpful to know the top industries. Ranked among the highest employers are:
The U.S. Department of Defense
The Public School system
The City of Norfolk
Old Dominion University
Children’s Hospital of the King’s Daughters
BAE Systems Ship Repair
Norfolk State University
Eastern Virginia Medical School
Portfolio Recovery Associates.
Norfolk is the main hub of art and culture in Hampton Roads. The city is packed with museums, yearly parades and festivals, and several of the most prominent performing arts companies, including the Virginia Stage Company. You also have the Virginia Symphony, the Virginia Opera, the Virginia Arts Festival, the Chrysler Museum of Art, and many other cultural organizations and establishments.
Though the arts are big in Norfolk, you also have some notable sporting organizations, including the Norfolk Tides, an International League basketball team, and the Norfolk Admirals — an ice hockey team that is part of the ECHL.
Norfolk is a city with many reasons to make it home. We hope this guide has been useful in your decision to relocate to this charming city.