Cities with the fastest growing home prices in Norfolk metro area
Cities with the fastest growing home prices in Norfolk metro area
It goes without saying that the coronavirus pandemic has sparked a wave of uncertainty across myriad industries, and no other market has quite felt its impact like that of real estate.
The pandemic has become a driving force behind the continued real estate boom, with high demand for vacation homes and a limited supply of housing that has prompted buyers and investors to bid up prices for affordable properties, causing home prices to skyrocket. The ability to work remotely played a role in the vacation home demand in mid-2020, as affluent Americans opted to ride out the pandemic with more amenities and space outside dense urban areas.
Stacker compiled a list of cities with the fastest-growing home prices in Virginia Beach-Norfolk-Newport News, VA-NC metro area using data from Zillow. Cities are ranked by 1-year price change as of December 2022. The typical home value in the United States increased over the last year by +8.4%% to $356,819. Data was available for 64 cities and towns in Norfolk.
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#30. Norfolk, VA
- 5-year price change: +$88,709 (+45.1%)
- Typical home value: $285,274 (#43 most expensive city in metro)
#29. Gates, NC
- 5-year price change: +$78,818 (+53.4%)
- Typical home value: $226,527 (#54 most expensive city in metro)
#28. Hartfield, VA
- 5-year price change: +$81,720 (+31.5%)
- Typical home value: $341,477 (#29 most expensive city in metro)
#27. Dutton, VA
- 5-year price change: +$81,720 (data not available)
- Typical home value: $332,578 (#32 most expensive city in metro)
#26. Eure, NC
- 5-year price change: +$67,844 (+49.4%)
- Typical home value: $205,106 (#56 most expensive city in metro)
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#25. Windsor, VA
- 5-year price change: +$93,182 (+37.6%)
- Typical home value: $341,009 (#30 most expensive city in metro)
#24. Chesapeake, VA
- 5-year price change: +$107,957 (+40.6%)
- Typical home value: $373,570 (#22 most expensive city in metro)
#23. Shawboro, NC
- 5-year price change: +$129,182 (+55.2%)
- Typical home value: $363,411 (#25 most expensive city in metro)
#22. Smithfield, VA
- 5-year price change: +$106,938 (+36.7%)
- Typical home value: $398,358 (#17 most expensive city in metro)
#21. Poquoson, VA
- 5-year price change: +$105,539 (+31.0%)
- Typical home value: $446,293 (#8 most expensive city in metro)
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#20. Poplar Branch, NC
- 5-year price change: +$132,362 (+54.4%)
- Typical home value: $375,509 (#21 most expensive city in metro)
#19. Virginia Beach, VA
- 5-year price change: +$112,713 (+41.9%)
- Typical home value: $381,771 (#19 most expensive city in metro)
#18. Suffolk, VA
- 5-year price change: +$113,227 (+47.0%)
- Typical home value: $354,320 (#27 most expensive city in metro)
#17. Hobbsville, NC
- 5-year price change: +$71,898 (+50.7%)
- Typical home value: $213,725 (#55 most expensive city in metro)
#16. Hallieford, VA
- 5-year price change: +$71,898 (data not available)
- Typical home value: $463,581 (#4 most expensive city in metro)
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#15. Carrollton, VA
- 5-year price change: +$115,124 (+35.4%)
- Typical home value: $439,997 (#11 most expensive city in metro)
#14. Corapeake, NC
- 5-year price change: +$87,968 (+54.7%)
- Typical home value: $248,702 (#49 most expensive city in metro)
#13. Maple, NC
- 5-year price change: +$142,815 (+55.5%)
- Typical home value: $400,000 (#16 most expensive city in metro)
#12. Aydlett, NC
- 5-year price change: +$139,123 (+55.0%)
- Typical home value: $392,203 (#18 most expensive city in metro)
#11. Shiloh, NC
- 5-year price change: +$102,096 (+49.6%)
- Typical home value: $307,867 (#39 most expensive city in metro)
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#10. Coinjock, NC
- 5-year price change: +$152,071 (+52.3%)
- Typical home value: $442,632 (#10 most expensive city in metro)
#9. Toano, VA
- 5-year price change: +$121,326 (+40.5%)
- Typical home value: $421,200 (#13 most expensive city in metro)
#8. Williamsburg, VA
- 5-year price change: +$116,831 (+38.0%)
- Typical home value: $423,986 (#12 most expensive city in metro)
#7. Camden, NC
- 5-year price change: +$117,702 (+46.6%)
- Typical home value: $370,525 (#23 most expensive city in metro)
#6. Currituck, NC
- 5-year price change: +$156,034 (+49.4%)
- Typical home value: $472,104 (#3 most expensive city in metro)
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#5. South Mills, NC
- 5-year price change: +$129,619 (+45.6%)
- Typical home value: $413,702 (#15 most expensive city in metro)
#4. Yorktown, VA
- 5-year price change: +$125,644 (+39.0%)
- Typical home value: $448,189 (#7 most expensive city in metro)
#3. Knotts Island, NC
- 5-year price change: +$158,757 (+61.6%)
- Typical home value: $416,679 (#14 most expensive city in metro)
#2. Seaford, VA
- 5-year price change: +$125,756 (+37.4%)
- Typical home value: $462,251 (#5 most expensive city in metro)
#1. Moyock, NC
- 5-year price change: +$174,282 (+53.1%)
- Typical home value: $502,457 (#2 most expensive city in metro)
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