23509 — Norfolk city, Virginia Market Snapshot
Housing market data for zip code 23509 in Norfolk city, Virginia. Updated monthly with median prices, days on market, and more.
Market Sales Data
65 sales in 2026 (year to date)
Median Sale Price
$315,000
Days to Sell
30
Homes Sold
65
Inventory
38
Sale-to-List
99.1%
New Listings
79
Price/SqFt
$209
Pending Sales
85
Conforming Loan Available
Most homebuyers in 23509 can comfortably use conventional financing. The median home price of $315,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
23509's market is balanced with homes taking an average of 30 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
Homes are selling very close to asking price in 23509 (99.1% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 23509 can comfortably use conventional financing. The median home price of $315,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 23509 are set at the county level.
2026 Loan Limits — Norfolk city
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $757,850 |
| 2 Units | $1,066,250 | $970,200 |
| 3 Units | $1,288,800 | $1,172,750 |
| 4 Units | $1,601,750 | $1,457,450 |
Affordability Snapshot — Zip 23509
To purchase the median home at $315,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $2,563.
Monthly Payment
$2,563
Income Required
$109,861
Principal & Interest
$1,941/mo
Down Payment (5%)
$15,750
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 23509.
Estimated Monthly Payment
$2,099
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