Cape May Market Report
$1,734,229
AVERAGE PRICE OF 45 HOMES$2,301,854
AVERAGE PRICE OF 28 MULTI-MILLION DOLLAR HOMES$2,218,915
AVERAGE PRICE OF 13 NEWLY BUILT HOMES$1,543,112
AVERAGE PRICE OF 8 HOMES WITH A POOL$959,000
AVERAGE PRICE OF 1 REDUCED PRICE HOMESAverage Home
| Average Price | $1,734,229 |
| Avg Bedrooms | 3.84 beds |
| Avg Bathrooms | 2.76 baths |
Average Price by Bedrooms
| 1 bedroom | $554,725 |
| 2 bedrooms | $819,500 |
| 3 bedrooms | $1,272,167 |
| 4 bedrooms | $1,831,577 |
| 5 bedrooms | $2,430,531 |
Cape May Home Price Trends
| 5/2023 | 4/2023 | 3/2023 | 2/2023 | 1/2023 | |
|---|---|---|---|---|---|
| Total Listings | 47 | 50 | 49 | 50 | 50 |
| Average Price | $1,711,994 | $1,646,392 | $1,690,562 | $1,597,212 | $1,629,748 |
| Avg Price Change | +3.98% | -2.68% | +5.84% | -2.04% | -0.97% |
| Median Price | $1,609,617 | $1,502,733 | $1,591,583 | $1,454,393 | $1,517,517 |
| Med Price Change | +7.11% | -5.91% | +9.43% | -4.34% | -3.91% |
| Avg Bedrooms | 3.74 beds | 3.65 beds | 3.73 beds | 3.6 beds | 3.69 beds |
| Avg Bathrooms | 2.76 baths | 2.69 baths | 2.75 baths | 2.63 baths | 2.67 baths |
Home Price by House Size
| Total Homes | Average Price | Avg Days on Site | |
|---|---|---|---|
| All Homes | 45 | $1,734,229 | 165 days |
| Multi-Million Dollar Homes | 28 | $2,301,854 | 180 days |
| Newly Built Homes | 13 | $2,218,915 | 153 days |
| Homes with a Pool | 8 | $1,543,112 | 104 days |
| Reduced Price Homes | 1 | $959,000 | 37 days |
