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| JANUARY 2025 | |||
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| Units Sold 169 |
Active Inventory 1,196 |
Median Sale Price $772,000 |
Days On Market 102 |
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| Up 5% Vs. Year Ago |
Up 9% Vs. Year Ago |
Down -3% Vs. Year Ago |
Up 6% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in January, with 169 sold this month in Cape May County Real Estate versus 161 last month, an increase of 5%. This month's total units sold was higher than at this time last year, an increase of 5% versus January 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 95 units or 9%. The total number of active inventory this January was 1,196 compared to 1,101 in January 2024. This month's total of 1,196 is lower than the previous month's total supply of available inventory of 1,212, a decrease of 1%. |
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Median Sale Price
Last January, the median sale price for Cape May County Homes was $795,000. This January, the median sale price was $772,000, a decrease of 3% or $23,000 compared to last year. The current median sold price is 4% higher than in December. 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 264 |
Current Contracts 151 |
Sold Vs. List Price 96.6% |
Months of Supply 7.1 |
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| Down -1% Vs. Year Ago |
Down -18% Vs. Year Ago |
Up 1% Vs. Year Ago |
Up 4% Vs. Year Ago |
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Months of Supply
In January, there was 7.1 months of supply available in Cape May County, compared to 6.8 in January 2024. That is an increase of 3% 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 264 homes newly listed for sale in Cape May County compared to 268 in January 2024, a decrease of 1%. There were 151 current contracts pending sale this January compared to 184 a year ago. The number of current contracts is 18% lower than last January. |
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Sale Price to List Price Ratio
In January, the average sale price in Cape May County was 96.6% of the average list price, which is 1.0% higher than at this time last year. Days on Market
This month, the average number of days on market was 102, higher than the average last year, which was 96, an increase 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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