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Cheap Homes in Cape May, NJ

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Cape May, NJ Foreclosures

How much do homes sell for in Cape May, NJ?
The average home price is currently $982,052.
In Cape May, NJ, how many homes are available?
There are currently 73 active home listings available in Cape May.
What’s the average rental cost in Cape May, NJ?
The average rental price in Cape May is $1,577.
What is the most expensive home in Cape May?
The most expensive home sold in Cape May had a price of $11,500,000.
What is currently the cheapest priced home in Cape May, NJ?
The cheapest home for sale in Cape May is priced at $16,404.

Living in Cape May, NJ

Cape May, NJ is a historic coastal resort town renowned for its Victorian charm and stunning beaches. The town features a vibrant community with numerous restaurants, shops, and outdoor activities, making it a perfect retreat for both visitors and residents. With a strong sense of local culture and scenic beauty, Cape May offers an ideal backdrop for beachside living.

Current Market Conditions in Cape May, NJ

The real estate market in Cape May remains competitive, with a steady demand for vacation homes and rentals. The market is driven by the area's desirability as a summer destination, leading to increased property values and investment opportunities for seasonal and year-round living.

Currently, there is a shortage of available homes for sale, causing prices to rise. Buyers are often faced with multiple offers on desirable properties, particularly those near the beach or with historic charm.

Recent trends show an uptick in renovation projects for older homes as buyers seek to enhance the aesthetic appeal and functionality of these classic residences.

Home Value Estimator For Cape May, NJ

There are currently 7,938 real estate properties in Cape May, NJ, with a median automated valuation model (AVM) price of $764,843.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Cape May, NJ, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Cape May, NJ, is $982,052.00, with the most expensive house in Cape May, NJ, topping out at $11,500,000.00 and the cheapest home in Cape May, NJ, clocking in at $16,404.00. In other words, there’s something for every potential homebuyer or savvy investor in Cape May, NJ!

Rent Prices In Cape May, NJ

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Cape May, NJ, is on a rollercoaster ride. The average rent price in Cape May, NJ, is $1,577.00. Indeed, when looking to rent in Cape May, NJ, you can expect to pay as little as $720.00 or as much as $3,260.00, with the average rent median estimated to be $1,550.00. The good news is that finding an affordable and desirable property to rent in Cape May, NJ -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Cheap Homes in Cape May, NJ

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