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| MAY 2025 | |||
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| Units Sold 230 |
Active Inventory 1,390 |
Median Sale Price $716,250 |
Days On Market 85 |
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| No Change Vs. Year Ago |
Up 10% Vs. Year Ago |
Up 10% Vs. Year Ago |
Down -6% Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in May, with 230 sold this month in Cape May County Real Estate, a decrease of 2%. This month's total units sold is similar compared to a year ago. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 126 units or 10%. The total number of active inventory this May was 1,390 compared to 1,264 in May 2024. This month's total of 1,390 is higher than the previous month's total supply of available inventory of 1,374, an increase of 1%. |
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Median Sale Price
Last May, the median sale price for Cape May County Homes was $650,000. This May, the median sale price was $716,250, an increase of 10% or $66,250 compared to last year. The current median sold price is 9% higher than in April. 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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| New Listings 336 |
Current Contracts 206 |
Sold Vs. List Price 96.0% |
Months of Supply 6.0 |
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| Up 2% Vs. Year Ago |
Up 11% Vs. Year Ago |
Down -1% Vs. Year Ago |
Up 10% Vs. Year Ago |
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Months of Supply
In May, there was 6.0 months of supply available in Cape May County, compared to 5.5 in May 2024. That is an increase of 10% 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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New Listings & Current Contracts
This month there were 336 homes newly listed for sale in Cape May County compared to 330 in May 2024, an increase of 2%. There were 206 current contracts pending sale this May compared to 185 a year ago. The number of current contracts is 11% higher than last May. |
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Sale Price to List Price Ratio
In May, the average sale price in Cape May County was 96.0% of the average list price, which is 1.0% lower than at this time last year. Days on Market
This month, the average number of days on market was 85, lower than the average last year, which was 90, a decrease of 6%. | |||
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| *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. |
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