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| DECEMBER 2024 | |||
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| Units Sold 157 |
Active Inventory 1,209 |
Median Sale Price $740,000 |
Days On Market 99 |
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| Down -1% Vs. Year Ago |
Up 9% Vs. Year Ago |
Up 8% Vs. Year Ago |
Down -5% Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in December, with 157 sold this month in Cape May County Real Estate versus 178 last month, a decrease of 12%. This month's total units sold was lower than at this time last year, a decrease of 1% versus December 2023. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 100 units or 9%. The total number of active inventory this December was 1,209 compared to 1,109 in December 2023. This month's total of 1,209 is lower than the previous month's total supply of available inventory of 1,309, a decrease of 8%. |
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Median Sale Price
Last December, the median sale price for Cape May County Homes was $685,000. This December, the median sale price was $740,000, an increase of 8% or $55,000 compared to last year. The current median sold price is 11% higher than in November. 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 137 |
Current Contracts 111 |
Sold Vs. List Price 96.8% |
Months of Supply 7.7 |
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| Down -14% Vs. Year Ago |
Down -13% Vs. Year Ago |
No Change Vs. Year Ago |
Up 10% Vs. Year Ago |
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Months of Supply
In December, there was 7.7 months of supply available in Cape May County, compared to 7.0 in December 2023. 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 137 homes newly listed for sale in Cape May County compared to 159 in December 2023, a decrease of 14%. There were 111 current contracts pending sale this December compared to 128 a year ago. The number of current contracts is 13% lower than last December. |
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Sale Price to List Price Ratio
In December, the average sale price in Cape May County was 96.8% of the average list price, which is similar compared to a year ago. Days on Market
This month, the average number of days on market was 99, lower than the average last year, which was 104, a decrease of 5%. | |||
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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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