House Flipping Report
Neighborhood Data
Norfolk, VA 23504
Print
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
$ 165,000
0.03% YoY Change
List Price /sqft
$107
0.02% from last quarter
Reduced Listings /Month
12
-0.4% from last quarter
Average Home Sqft
$1,622
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
23504
23,483
#31st 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.
Array
(
[zip_id] => 40154
[country] => USA
[zip] => 23504
[city] => Norfolk
[state] => Virginia
[state_abbr] => VA
[county] => Norfolk (city)
[dma] => 544
[latitude] => 36.863
[longitude] => -76.2619
[timezone] => -5
[timezone_dst] => 1
[dttm] => 2019-09-30
[postal_code] => 23504
[zip_name] => norfolk, va
[flag] =>
[median_listing_price] => 172500
[median_listing_price_mm] => -0.0919
[median_listing_price_yy] => 0.0144
[active_listing_count] => 51
[active_listing_count_mm] => -0.0377
[active_listing_count_yy] => -0.2154
[median_days_on_market] => 54
[median_days_on_market_mm] => 0.2
[median_days_on_market_yy] => 0.0385
[new_listing_count] => 16
[new_listing_count_mm] => -0.2
[new_listing_count_yy] => -0.2
[price_increased_count] => 0
[price_increased_count_mm] =>
[price_increased_count_yy] =>
[price_reduced_count] => 12
[price_reduced_count_mm] => -0.4
[price_reduced_count_yy] => 0
[pending_listing_count] => 0
[pending_listing_count_mm] =>
[pending_listing_count_yy] =>
[median_listing_price_per_square_feet] => 107
[median_listing_price_per_square_feet_mm] => 0.0168
[median_listing_price_per_square_feet_yy] => 0.1576
[median_square_feet] => 1622
[median_square_feet_mm] => -0.0357
[median_square_feet_yy] => 0.0062
[average_listing_price] => 178818
[average_listing_price_mm] => -0.0907
[average_listing_price_yy] => 0.0102
[total_listing_count] => 51
[total_listing_count_mm] => -0.0377
[total_listing_count_yy] => 0
[pending_ratio_mm] => 0
[pending_ratio_yy] => 0
[RegionID] => 67748
[RegionName] => 23504
[State] => VA
[Metro] => Virginia Beach-Norfolk-Newport News
[County] => Norfolk City
[City] => Norfolk
[SizeRank] => 557
[Zhvi] => 151600
[MoM] => 0
[QoQ] => 0.00397351
[YoY] => 0.0277966
[5Year] => 0.085692
[10Year] => 0.00973655
[PeakMonth] => 2007-06
[PeakQuarter] => 2007-Q2
[PeakZHVI] => 157800
[PctFallFromPeak] => -0.0392902
[LastTimeAtCurrZHVI] => 2006-10
[flips] => 6835
[purchase_price] => 167706
[resale_price] => 274176
[gross_margin] => 106470
[flipcount_rank] => 16
[flipmargin_rank] => 12
[counties] => 135
[zip_population] => 23483
[zip_rank] => 131
[state_population] => 8517685
[state_rank] => 12
[state_difference] => 0.619925
[list_prices] => "144000,149900,159000,159900,157900,157900,149900,140500,145000,140000,139900,138000,134900,138000,134950,129000,129900,129000,129000,127000,124999.5,124250,119900,117900,114950,117800,114200,116350,119900,134900,145450,142500,142500,139900,135000,134900,135000,139900,131250,124900,125000,135500,125000,119099,125000,134900,119450,119900,114900,110000,115000,115000,122000,120000,126250,119999,125000,118850,124900,129900,125000,118900,118700,127000,120000,120000,129000,135000,146975,145000,148700,147000,137450,139900,147000,147000,139900,136500,135000,129900,126950,134950,132000,122500,115000,127200,139000,157000,150000,164900,168388.5,150000,157000,167638.5,149900,149000,155000,149000,147250,149900,146750,149450,149950,149900,157000,165000,155000,153873.5,162000,158200,170000,160000,159000,163100,155000,163950,159900,174900,159000,165000"
[list_prices_exploded] => Array
(
[0] => 144000
[1] => 149900
[2] => 159000
[3] => 159900
[4] => 157900
[5] => 157900
[6] => 149900
[7] => 140500
[8] => 145000
[9] => 140000
[10] => 139900
[11] => 138000
[12] => 134900
[13] => 138000
[14] => 134950
[15] => 129000
[16] => 129900
[17] => 129000
[18] => 129000
[19] => 127000
[20] => 124999.5
[21] => 124250
[22] => 119900
[23] => 117900
[24] => 114950
[25] => 117800
[26] => 114200
[27] => 116350
[28] => 119900
[29] => 134900
[30] => 145450
[31] => 142500
[32] => 142500
[33] => 139900
[34] => 135000
[35] => 134900
[36] => 135000
[37] => 139900
[38] => 131250
[39] => 124900
[40] => 125000
[41] => 135500
[42] => 125000
[43] => 119099
[44] => 125000
[45] => 134900
[46] => 119450
[47] => 119900
[48] => 114900
[49] => 110000
[50] => 115000
[51] => 115000
[52] => 122000
[53] => 120000
[54] => 126250
[55] => 119999
[56] => 125000
[57] => 118850
[58] => 124900
[59] => 129900
[60] => 125000
[61] => 118900
[62] => 118700
[63] => 127000
[64] => 120000
[65] => 120000
[66] => 129000
[67] => 135000
[68] => 146975
[69] => 145000
[70] => 148700
[71] => 147000
[72] => 137450
[73] => 139900
[74] => 147000
[75] => 147000
[76] => 139900
[77] => 136500
[78] => 135000
[79] => 129900
[80] => 126950
[81] => 134950
[82] => 132000
[83] => 122500
[84] => 115000
[85] => 127200
[86] => 139000
[87] => 157000
[88] => 150000
[89] => 164900
[90] => 168388.5
[91] => 150000
[92] => 157000
[93] => 167638.5
[94] => 149900
[95] => 149000
[96] => 155000
[97] => 149000
[98] => 147250
[99] => 149900
[100] => 146750
[101] => 149450
[102] => 149950
[103] => 149900
[104] => 157000
[105] => 165000
[106] => 155000
[107] => 153873.5
[108] => 162000
[109] => 158200
[110] => 170000
[111] => 160000
[112] => 159000
[113] => 163100
[114] => 155000
[115] => 163950
[116] => 159900
[117] => 174900
[118] => 159000
[119] => 165000
)
)
Array
(
[sale_counts_exploded] => Array
(
[0] =>
)
)