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| MARCH 2025 | |||
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| Units Sold 154 |
Active Inventory 1,337 |
Median Sale Price $555,000 |
Days On Market 106 |
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| Down -28% Vs. Year Ago |
Up 11% Vs. Year Ago |
Down -7% Vs. Year Ago |
Down -3% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in March, with 154 sold this month in Cape May County Real Estate versus 136 last month, an increase of 13%. This month's total units sold was lower than at this time last year, a decrease of 28% versus March 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 135 units or 11%. The total number of active inventory this March was 1,337 compared to 1,202 in March 2024. This month's total of 1,337 is higher than the previous month's total supply of available inventory of 1,293, an increase of 3%. |
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Median Sale Price
Last March, the median sale price for Cape May County Homes was $599,000. This March, the median sale price was $555,000, a decrease of $44,000 compared to last year. The current median sold price is lower than in February. 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 385 |
Current Contracts 266 |
Sold Vs. List Price 95.9% |
Months of Supply 8.7 |
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| Up 14% Vs. Year Ago |
Up 23% Vs. Year Ago |
Down -1.9% Vs. Year Ago |
Up 54% Vs. Year Ago |
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Months of Supply
In March, there was 8.7 months of supply available in Cape May County, compared to 5.6 in March 2024. That is an increase of 55% 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 385 homes newly listed for sale in Cape May County compared to 337 in March 2024, an increase of 14%. There were 266 current contracts pending sale this March compared to 216 a year ago. The number of current contracts is 23% higher than last March. |
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Sale Price to List Price Ratio
In March, the average sale price in Cape May County was 95.9% of the average list price, which is 1.9% lower than at this time last year. Days on Market
This month, the average number of days on market was 106, lower than the average last year, which was 109, a decrease of 3%. | |||
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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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