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)

Are you looking to sell your property. Or are you curious about what it’s market value is? Give us a call at 609-884-5005 or inquire on our website. https://www.coastlinerealty.com/real-estate/selling-your-property

This info deemed reliable but not guaranteed. Information compiled from the Cape May County Multiple Listing Service.