House Flipping Report
Neighborhood Data
Norfolk, VA 23502
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Successfully flipping a house depends on a number of different factors including population growth, increasing housing prices and cheap houses for sale. We are analyzing thousands of data points for Norfolk, VA . If these factors exist, there is a good chance that a successful flip is possible.
By looking at recent sales data in Norfolk (city) County , we've been able to rank it against its peer counties within Virginia. To provide an even fuller picture, we also ranked Virginia against all other US states.
Region
Rank in # of Flips
Rank in Flip Profit
Virginia
#16th in US
#12th in US
Number of Flips: We identify house flips as houses that are bought and sold within 12 months excluding forclosures, REOs and multi-parcel sales.
Flip Profit: The profit is the gross margin calculated by subtracting the original purchase price from the new resale price.
Latest Median Sale Price
$ 223,500
0.05% YoY Change
List Price /sqft
$136
even from last quarter
Reduced Listings /Month
4
-0.67% from last quarter
Average Home Sqft
$1,681
-0.01% from last year
In order to successfully flip houses, you need the population of the area to be trending northward for either the individual zip code or the county as a whole. As more people come into an area, they will need quality housing to keep up with the influx of people.
Region
Population
Change YoY
Rank
Virginia
8,517,685
0.62%
#12th in US
23502
20,678
#44th in VA
FlipMarket is the industry standard for providing you the exact data needed to see if flipping a house will be successful. To find properties for sale that may fit your budget and be house flipping candidates, check this list of popular searches.
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