Cape May County Housing Market Report December 2024•Cape May County, New Jersey

hero building illustration for mobile

Housing Prices in Cape May County, NJ

How much do homes in Cape May County, NJ cost?

Housing Market Conditions

Is Cape May County, NJ a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Cape May County is a Buyer's Market

Difference Since December 2023

At the same time last year, Cape May County was a Seller's Market.

Insight

Cape May County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$735,844$566/SqFt
+$11,844
+1.6%

Based on all homes sold in the last 12 months

Insight

Homes in Cape May County have sold for 1.6% more than they did a year ago.

Summary: The median home sold price in Cape May County was $735,844 in December 2024, up 1.6% from last year, and the median price per square foot was $566.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Atlantic County
+20.7%
Cumberland County
+10.7%
Cape May County
+1.6%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1$307.5K$339K
+10.2%
2$487.8K$518.2K
+6.2%
3$745K$740K
-0.7%
4$1.0M$999.9K
-7.4%
5$1.6M$1.8M
+16.0%

Summary: Cape May County housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes increased by +10.2%. The home price for 2 bedroom homes increased by +6.2%. The home price for 3 bedroom homes decreased by -0.7%. The home price for 4 bedroom homes decreased by -7.4%. The home price for 5 bedroom homes increased by +16.0%.

Housing supply in Cape May County, NJ

How many homes are available in Cape May County, NJ?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
416Last MonthDec 2024
4442 months agoNov 2024
-6.3 %
Change MoMNov – Dec

Summary: The Cape May County real estate market had 416 homes for sale in Dec 2024, a 6.3 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
51Last MonthDec 2024
672 months agoNov 2024
-23.9 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
13635
-2.8%
25455
+1.9%
3124118
-4.8%
4117110
-6.0%
511398
-13.3%

Summary: Cape May County housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes decreased by -2.8%. The inventory for 2 bedroom homes increased by +1.9%. The inventory for 3 bedroom homes decreased by -4.8%. The inventory for 4 bedroom homes decreased by -6.0%. The inventory for 5 bedroom homes decreased by -13.3%.

Asking Price vs. Sold Price

How much do homes in Cape May County, NJ cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price7 Homes

At Asking Price6 Homes

Under Asking Price27 Homes

Insight

If you're buying a home in Cape May County, you may be able to get a good deal. 67.5% of homes here sold below asking price last month.

Summary: A total of 51 homes were sold or pending in Cape May County in December 2024, down by 23.9% month-over-month. Of the 40 sold homes, 68% were sold under asking, 15% were sold at asking, and and 18% were sold over asking.

Days on Market for Cape May County, NJ

How long does it take to sell a home in Cape May County, NJ?

Breakdown of Home Sale Times

Under 30 Days26 Homes

30 – 90 Days16 Homes

Over 90 Days9 Homes

Insight

Many homes in Cape May County are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 51 homes were sold in Cape May County; 51% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
59 DaysThis YearDec 2024
51 Days1 year agoDec 2023
+15.8 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Cape May County had an average listing age of 59 days in Dec 2024, up by 15.8% compared to the previous year.

Connect With An Agent

Local real estate agents are ready to help you find a home here

Sell My Home

Sell your home with an expert or get the job done on your own.

Get Approved

Get a customizable mortgage solution based on today's rates.

Newest Listings in Cape May County, NJ

What homes are available in Cape May County, NJ?

See More Listings

Nearby markets

Popular Cities with Homes for Sale in New Jersey

MLS Disclaimers and Copyright

Based on information from Cape May County MLS, South Jersey Shore Regional MLS, BrightMLS, Monmouth Ocean Regional MLS, and New Jersey MLS for the period 01/01/2023 - 01/01/2025

The data relating to real estate for sale on this web page appears in part through the Cape May County MLS program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which we participate, and is provided by Cape May County MLS through a licensing agreement. Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to change, withdrawal, or prior sale.

Copyright © 2025 Cape May County Multiple Listing Service. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:15:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Broker Reciprocity Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2025 SJSR MLS. All rights reserved.

The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2025 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:24:07 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2025 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:20:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXDisclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.

All information deemed reliable but not guaranteed. Source: New Jersey Multiple Listing Service, Inc. Copyright© 2025 New Jersey Multiple Listing Service, Inc. All rights reserved.

Rocket Homes Real Estate, 701 Griswold St, Suite 21, Detroit, MI 48226

Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.