Lexus IS Pricing Analysis: Norfolk, VA Market Report

Pricing Analysis by Model Year

Key Insights

• New Models Command Premiums: The 2026 Lexus IS is priced at $51,795, which is approximately 14.0% above MSRP, indicating strong demand for the latest model.
• Significant Depreciation for Older Models: The 2022 Lexus IS shows a steep decline, priced at $26,500, reflecting a ~32.9% drop from MSRP.
• Best Value in Older Models: The 2016 Lexus IS is priced at $16,999, representing a ~54.5% depreciation, making it a compelling option for budget-conscious buyers.

Model Year Pricing

Pricing in Nearby Cities

Market Area: Greater Norfolk Region

Key Insights

• Lowest Prices in Salisbury, MD: The city offers the most affordable average price at $14,900, likely due to higher inventory and lower demand.
• Highest Prices in New Bern, NC: With an average price of $35,545, this market may reflect a premium for available inventory or specific buyer preferences.
• Richmond, VA Shows Moderate Pricing: At $25,080, Richmond's pricing suggests a balanced market with steady demand and inventory levels.

City-Level Pricing

Pricing by Trim Packages

Key Insights

• RWD Trims Dominate Listings: The 350 F Sport RWD is the most common trim with 43 listings, indicating strong demand for rear-wheel drive configurations.
• AWD Trims Offer Premium Features: The 350 F Sport AWD is priced at $49,950, reflecting a higher demand for all-wheel drive options in the market.
• Price Variability Across Trims: The 350 F Sport Design RWD at $45,500 offers a competitive price point with desirable features, making it a strong contender for buyers.

Trim-Level Details

These recommendations are based on CarGurus' proprietary market data from August 6, 2026, CarGurus experts' opinions, and generative AI.