Cape May, NJ Home Values & Market Trends
Real estate market trends reflect that there have been 3,369 transactions over the past year in Cape May. The median value for residential home transactions that occurred over the previous year is $672,386.89. The number of current listings in Cape May is 456, and the percentage of properties for sale in the city is 90.30%. Cape May, NJ currently has 49 properties in foreclosure, 2 bank owned properties, 4 properties headed for auction, and 456 properties for sale.
Cape May, NJ Real Estate Market Overview
| Zip | Median Est. Value | Zip | Median Est. Value |
|---|---|---|---|
| 08204 | $ 668,699 $ 476/sqft |
Housing Market Summary for Cape May, NJ
| Jun 2025 | June 2026 | Change | |
|---|---|---|---|
| Median Listing Price | $712.5K | $740.7K | 3.97% |
| Median Sold Price | $584K | $740.7K | 26.84% |
| Homes For Sale | 82 | 437 | 432.93% |
| Homes Sold | 201 | 207 | 2.99% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Cape May, NJ
Browse Homes in Cape May, NJ
Cape May home values range from $55,102 to $11,586,828. The median estimated value of a home in Cape May is $672,386.89. The median list price of a home is 672,500, and the total count of properties in the city is 12,436.
- Pre-ForeclosurePre-foreclosure homes account for 0.35% of all residential properties in Cape May, NJ with 08204 containing 43 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There is 1 zips within Cape May, NJ; of that zips, the estimated home value for pre-foreclosure homes ranges from $1,757,662 in 08204 to the lowest home value of $152,290 in 08204.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Cape May, NJ ranges from the highest value of $331,210 in 08204 to the lowest value of $236,561 in 08204. Bank owned homes and properties account for 0.02% of properties in Cape May, NJ. There is 1 zips within Cape May, NJ; 08204 containing 2 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions08204 has 4 auction properties, the highest number of properties going to auction in a single zip in the state of Cape May, NJ. Auction homes and other auction properties account for 0.03% of all properties in Cape May, NJ. There is 1 zips within Cape May, NJ; of that zips, the median estimated home value for homes going to auction ranges from $452,786 in 08204 to the lowest value of $386,445 in 08204.