Cape May County Housing Market Data

There was a decrease in total units sold in August, with 257 sold this month in Cape May County Real Estate versus 275 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 3% versus August 2016.

Click here to compare the units sold of this area against other locations.

Versus last year, the total number of homes available this month is lower by 543 units or 18%. The total number of active inventory this August was 2452 compared to 2,995 in August 2016. This month's supply remained stable as compared to last month.

Click here to compare the active inventory of this area against other locations.

Last August, the median sale price for Cape May County Homes was $345,000. This August, the median sale price was $341,500, a decrease of 1% or $3,500 compared to last year. The current median sold price is 10% higher than in July.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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In August, there was 9.5 months of supply available in Cape May County, compared to 11.3 in August 2016. That is a decrease of 16% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

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This month there were 508 homes newly listed for sale in Cape May County compared to 518 in August 2016, a decrease of 2%. There were 315 current contracts pending sale this August compared to 349 a year ago. The number of current contracts is 10% lower than last August.

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Click here to compare the current contracts of this area against other locations.

In August, the average sale price in Cape May County was 95.5% of the average list price, which is 0.5% higher than at this time last year.

Click here to compare the sale price to list price ratio of this area against other locations.

This month, the average number of days on market was 134, lower than the average last year, which was 172, a decrease of 22%.

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Focus On: Cape May County Housing Market			August 2017

Units Sold 257	Active Inventory 2,452	Median Sale Price $341,500	Days On Market 134

Down -3% Vs. Year Ago	Down -18% Vs. Year Ago	Down -1% Vs. Year Ago	Down -22% Vs. Year Ago


iCharts		Units Sold There was a decrease in total units sold in August, with 257 sold this month in Cape May County Real Estate versus 275 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 3% versus August 2016. Click here to compare the units sold of this area against other locations.
Active Inventory Versus last year, the total number of homes available this month is lower by 543 units or 18%. The total number of active inventory this August was 2452 compared to 2,995 in August 2016. This month's supply remained stable as compared to last month. Click here to compare the active inventory of this area against other locations.		iCharts
iCharts		Median Sale Price Last August, the median sale price for Cape May County Homes was $345,000. This August, the median sale price was $341,500, a decrease of 1% or $3,500 compared to last year. The current median sold price is 10% higher than in July. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. Click here to compare the median sale price of this area against other locations.



New Listings 508	Current Contracts 315	Sold Vs. List Price 95.5%	Months of Supply 9.5

Down -2% Vs. Year Ago	Down -10% Vs. Year Ago	Up 0.5% Vs. Year Ago	Down -16% Vs. Year Ago


iCharts		Months of Supply In August, there was 9.5 months of supply available in Cape May County, compared to 11.3 in August 2016. That is a decrease of 16% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand. Click here to compare the months of supply of this area against other locations.
New Listings & Current Contracts This month there were 508 homes newly listed for sale in Cape May County compared to 518 in August 2016, a decrease of 2%. There were 315 current contracts pending sale this August compared to 349 a year ago. The number of current contracts is 10% lower than last August. Click here to compare the new listings of this area against other locations. Click here to compare the current contracts of this area against other locations.		iCharts
iCharts		Sale Price to List Price Ratio In August, the average sale price in Cape May County was 95.5% of the average list price, which is 0.5% higher than at this time last year. Click here to compare the sale price to list price ratio of this area against other locations.
Days on Market This month, the average number of days on market was 134, lower than the average last year, which was 172, a decrease of 22%. Click here to compare the days on market of this area against other locations.		iCharts


	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by SJSMLS/CMCAOR and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of SJSMLS/CMCAOR or Long & Foster Real Estate, Inc.