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| MAY 2025 | |||
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| Zip Code(s): 08204 and 08212 | |||
| Units Sold 25 |
Active Inventory 123 |
Median Sale Price $862,500 |
Days On Market 97 |
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| Down -7% Vs. Year Ago |
No Change Vs. Year Ago |
Up Vs. Year Ago |
Down -2% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in May, with 25 sold this month in Cape May Real Estate versus 20 last month, an increase of 25%. This month's total units sold was lower than at this time last year, a decrease of 7% versus May 2024. |
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Active Inventory
The total number of homes available this month is 123 units, which is similar compared to a year ago. This month's total of 123 is lower than the previous month's total supply of available inventory of 134, a decrease of 8%. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last May, the median sale price for Cape May Homes was $649,000. This May, the median sale price was $862,500, an increase of $213,500 compared to last year. The current median sold price is 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 31 |
Current Contracts 34 |
Sold Vs. List Price 96.3% |
Months of Supply 4.9 |
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| Down -22% Vs. Year Ago |
Up 48% Vs. Year Ago |
Up 1.4% Vs. Year Ago |
Up 8% Vs. Year Ago |
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Months of Supply
In May, there was 4.9 months of supply available in Cape May, compared to 4.6 in May 2024. That is an increase of 8% 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 31 homes newly listed for sale in Cape May compared to 40 in May 2024, a decrease of 23%. There were 34 current contracts pending sale this May compared to 23 a year ago. The number of current contracts is 48% higher than last May. |
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Sale Price to List Price Ratio
In May, the average sale price in Cape May was 96.3% of the average list price, which is 1.3% higher than at this time last year. Days on Market
This month, the average number of days on market was 97, lower than the average last year, which was 99, a decrease of 2%. | |||
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Cape May are defined as properties listed in zip code/s 08204 and 08212. | ||
| *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 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 CMCAOR or Long & Foster Real Estate, Inc. |
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