The Cape May County Real Estate Market saw healthy growth in the first quarter of 2020 vs 2019. Inventory continued to decline as new listings coming onto the market decreased and sold prices increased.
| Q1 2019 | Q1 2020 |
| Change |
|---|---|---|---|---|
New Listings | 1354 | 1036 | 23.49% | |
Contracts Written | 2133 | 2047 | 4.03% | |
Closed Sales | 614 | 601 | 2.12% | |
Average Asking To Sold Price | 95.47% | 95.32% | 0.16% | |
Median Asking To Sold Price | 97.59% | 95.34% | 2.30% | |
Average Days On Market | 148 | 148 | 0.00% | |
Average Sold Price | $503,987 | $547,723 | 8.68% | |
Median Sold Price | $312,000 | $305,000 | 2.24% |