Real Estate Market Report - Cape May County - July 2022
Market Report! Here s a quick Real Estate market report of most of Cape May County. Included is a recap of all sold properties(SFH, Land, Condo, etc) in the month of July 2022 for a given area; as well as a current look at the current inventory of residential single family homes(SFH) in an area as of August 3rd, 2022
In the immediate Cape May area the trend for the month of July for sold properties was a mixed bag. The Borough of Cape May Point saw 4 properties sell in the month of July, the first to sell since the month of May. The City of Cape May saw a drop in the number of properties closing during the month and West Cape May remained the same. To begin August the total number of listings saw an uptick, specifically in the City of Cape May.
Cape May
Active SFH Listings as of 8/03/22 31 (+9 vs. last month)
Median Days on Market 55 Days (+7 days vs. last month)
Median List Price - $1,875,000 (-$220,000 vs. last month)
Sold Properties in July 10 (-4 vs. last month)
Median Days on Market 88 Days (+22 days vs. last month)
Median Sale Price - $1,525,000 (+$225,000 vs. last month)
West Cape May
Active SFH Listings as of 8/03/22 7 (+2 vs. last month)
Median Days on Market 77 Days (-46 days vs. last month)
Median List Price - $1,250,000 (+$0 vs. last month)
Sold Properties in July 1 (+0 vs. last month)
Median Days on Market 50 Days (-151 days vs. last month)
Median Sale Price - $915,000 (+$535,000 vs. last month)
Cape May Point
Active SFH Listings as of 8/03/22 8 (+0 vs. last month)
Median Days on Market 81 Days (+34 Days vs. last month)
Median List Price - $1,612,000 (+$27,000 vs. last month)
Sold Properties in July 4 (+4 vs. last month)
Median Days on Market 56 (-354 Days vs. May)
Median Sale Price $812,500 (-$587,450 vs. May)
Across most of Cape May County during the month of July we saw a reduction in the number of properties closing versus the previous month along with the numbers of days on market prior to closing raising as well.
To begin August most areas saw a drop in asking prices and median days on market values rising. The total number of listings rose across the board aside from Middle Township that saw a small drop and Sea Isle City that remained the same.
Cape May Area (including Cape May City West Cape May Cape May Point)
Active SFH Listings as of 8/03/22 46 (+9 vs. last month)
Median Days on Market 62 Days (+12 Days vs. last month)
Median List Price - $1,597,000 (-$92,000 vs. last month)
Sold Properties in July 15 (+0 vs. last month)
Median Days on Market 85 Days (+14 days vs. last month)
Median Sale Price - $975,000 (-$125,000 vs. last month)
Lower Township
Active SFH Listings as of 8/03/22 107 (+0 vs. last month)
Median Days on Market 47 Days (+8 days vs. last month)
Median List Price - $399,900 (-$25,000 vs. last month)
Sold Properties in July 40 (-8 vs. last month)
Median Days on Market 54 Days (-7 days vs. last month)
Median Sale Price - $389,000 (+$2,556 vs. last month)
Middle Township
Active SFH Listings as of 8/03/22 78 (-6 vs. last month)
Median Days on Market 68 Days (+17 days vs. last month)
Median List Price - $417,500 (+$12,550 vs last month)
Sold Properties in July 21 (-17 vs. last month)
Median Days on Market 100 Days (+37 days vs. last month)
Median Sale Price - $315,000 (-$52,500 vs. last month)
The Wildwoods & Diamond Beach
Active SFH Listings as of 8/03/22 59 (+7 vs. last month)
Median Days on Market 51 Days (+11 Days vs. last month)
Median List Price - $699,900 (-$47,550 vs. last month)
Sold Properties in July 51 (-7 vs. last month)
Median Days on Market 63 Days (-+7 days vs. last month)
Median Sale Price - $570,000 (+$55,000 vs. last month)
Dennis Township Upper Township - Woodbine
Active SFH Listings as of 8/03/22 52 (+2 vs. last month)
Median Days on Market 43 Days (+6 days vs. last month)
Median List Price - $359,000 (-$40,949 vs. last month)
Sold Properties in July 12 (-2 vs. last month)
Median Days on Market 70 Days (+8 days vs. last month)
Median Sale Price - $363,000 (+$102,050 vs. last month)
Avalon & Stone Harbor
Active SFH Listings as of 8/03/22 67 (+6 vs. last month)
Median Days on Market 61 Days (+7 days vs. last month)
Median List Price - $4,295,000 (+$20,000 vs. last month)
Sold Properties in July 11 (-5 vs. last month)
Median Days on Market 99 Days (+32 days vs. last month)
Median Sale Price - $2,795,000 (+$815,000 vs. last month)
Sea Isle City & Strathmere
Active SFH Listings as of 8/03/22 3 (+0 vs. last month)
Median Days on Market 67 Days (+22 days vs. last month)
Median List Price - $2,395,000 (+0 vs. last month)
Sold Properties in July 10 (-7 vs. last month)
Median Days on Market 73 Days (+3 days vs. last month)
Median Sale Price - $1,590,000 (+$240,000 vs. last month)
