Posted on 12/9/2022

Real Estate Market Report - Cape May County - November 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 November 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 December 1st, 2022.

To start the month of December, Cape May, West Cape May, and Cape May Point all saw fewer active listings on the market. All three areas continue the trend of the median asking prices being above $1,000,000, with Cape May the highest at $1,944,500. Sold properties during November fell slightly by 2 properties, and the median sale prices dropped as well. West Cape May s median sale price dropped dramatically based on only 1 property sold during the month, and it was a mobile home.

Cape May Area (including Cape May City West Cape May Cape May Point)

Active SFH Listings as of 12/01/22 41 (-7 vs. last month)

Median Days on Market 91 Days (-24 Days vs. last month)

Median List Price - $1,570,000 (-$27,500 vs. last month)

Sold Properties in November 10 (-2 vs. last month)

Median Days on Market 84 Days (-38 days vs. last month)

Median Sale Price - $920,000 (-$205,000 vs. last month)

Cape May

Active SFH Listings as of 12/01/22 24 (-3 vs. last month)

Median Days on Market 142 Days (+23 days vs. last month)

Median List Price - $1,944,500 (-$250,500 vs. last month)

Sold Properties in November 8 (+0 vs. last month)

Median Days on Market 84 Days (-38 days vs. last month)

Median Sale Price - $920,000 (-$192,500 vs. last month)

West Cape May

Active SFH Listings as of 12/01/22 13 (-3 vs. last month)

Median Days on Market 79 Days (+24 days vs. last month)

Median List Price - $1,099,000 (+$52,000 vs. last month)

Sold Properties in November 1 (-1 vs. last month)

Median Days on Market 25 Days (-31 days vs. last month)

Median Sale Price - $210,000 (-$939,862 vs. last month)

Cape May Point

Active SFH Listings as of 12/01/22 4 (-1 vs. last month)

Median Days on Market 129 Days (+83 Days vs. last month)

Median List Price - $1,534,950 (-$60,050 vs. last month)

Sold Properties in November 1 (-1 vs. last month)

Median Days on Market 167 (-32 Days vs. last month)

Median Sale Price $1,193,000 (-$94,500 vs. last month)

Across Cape May County, to start the month of December, the trend was fewer active listings on the market than in November. Median list prices trended lower in most areas in the county besides Avalon, Stone Harbor, and Sea Isle City.

In November, properties sold fell almost in every area tracked in Cape May County besides Middle Township, which saw 27 properties sell during the month, 3 more than in October. Median Sale prices did not see any clearly defined trend as the county was split between areas with an increase or decrease in sale price.

Lower Township

Active SFH Listings as of 12/01/22 90 (-21 vs. last month)

Median Days on Market 55 Days (-1 days vs. last month)

Median List Price - $375,000 (-$15,000 vs. last month)

Sold Properties in November 30 (-13 vs. last month)

Median Days on Market 79 Days (+5 days vs. last month)

Median Sale Price - $382,500 (+$22,500 vs. last month)

Middle Township