The real estate market in Cape May County, New Jersey, recorded 66 home sales during the period of September 29 to October 5. The transactions spanned a wide range of prices, from a multi-million dollar property in Avalon to more modest homes in Woodbine, reflecting the diverse housing landscape of the popular shore destination. The median sale price for the week was an $845,000 home in Wildwood.
Key Takeaways
- A total of 66 residential properties were sold in Cape May County from September 29 to October 5.
- The highest-priced sale was an $8.9 million property on Fifth Avenue in Avalon.
- The median sale price for the week was $845,000 for a 2,211-square-foot home in Wildwood.
- Transactions occurred across various municipalities, including Avalon, Ocean City, Cape May, and Wildwood, showcasing a broad spectrum of market activity.
Market Overview for Early October
During the first week of October, Cape May County's real estate market demonstrated continued activity with 66 closed sales. This volume indicates a steady flow of transactions as the fall season began. The sales data reveals significant price disparities across the county's different towns, a common feature of shore communities with both luxury beachfront and inland residential areas.
The median transaction was a single-family home on West Pine Avenue in Wildwood, which sold for $845,000. This property, measuring 2,211 square feet, provides a central benchmark for the market's performance during this specific week. It highlights the solid value present in areas outside the ultra-luxury enclaves.
Understanding the Cape May Market
Cape May County is a premier destination on the Jersey Shore, known for its historic towns, beaches, and vacation homes. Its real estate market is highly seasonal and includes some of New Jersey's most valuable properties, particularly in towns like Avalon and Stone Harbor, alongside more affordable year-round residential communities.
Luxury Sales Highlight Market Strength
The high end of the market showed considerable strength, with several multi-million dollar sales closing during this period. These transactions were concentrated in the county's most affluent coastal towns, underscoring their persistent appeal to high-net-worth buyers.
Avalon led the luxury segment with eight-figure sales. A home on Fifth Avenue sold for an impressive $8,900,000. Despite its relatively small size of 1,346 square feet, its location commanded a price of $6,612 per square foot. Another significant sale in Avalon was a 4,219-square-foot property on Bayberry Road, which closed for $7,000,000.
Ocean City also saw a major luxury transaction. A property on Marshall Lane was sold for $8,900,000. This 2,590-square-foot home fetched a price of $3,436 per square foot, reinforcing Ocean City's status as a top-tier market. In Cape May, a large 5,374-square-foot home on the historic Washington Street sold for $3,400,000.
Price Per Square Foot Varies Widely
The data reveals a dramatic range in property values based on location. The sale in Avalon at $6,612 per square foot stands in stark contrast to a transaction in Cape May Court House, where a 3,225-square-foot property on Hand Avenue sold for just $78 per square foot.
Activity Across Diverse Communities
While multi-million dollar sales captured headlines, the majority of transactions occurred at more moderate price points, reflecting a healthy market for a broader range of buyers. Areas like Wildwood, Villas, and Cape May Court House saw significant activity.
Wildwood recorded the highest number of sales, with 17 transactions. These ranged from a property on Atlantic Avenue sold for just under $25,000 to a home on 16th Avenue that sold for $1,520,000. This wide spectrum illustrates the diverse housing stock available within a single municipality.
In the Villas, three homes were sold with prices between $223,100 and $400,000, representing some of the more affordable options in the county. Similarly, Cape May Court House had several sales under $400,000, providing entry points for first-time homebuyers or those seeking lower-cost properties.
Detailed List of Property Transactions
The following is a complete breakdown of all 66 home sales recorded in Cape May County from September 29 to October 5, organized by municipality.
Avalon
- 4277 Fifth Ave: $8,900,000 ($6,612/sq ft)
- 4209 Bayberry Road: $7,000,000 ($1,659/sq ft)
- 455 20th Street: $4,100,000 ($1,941/sq ft)
- 261 45th Street: $3,575,000 ($1,323/sq ft)
- 7423 Ocean Drive: $3,150,000 ($1,074/sq ft)
- 859 Dune Drive: $2,305,000 ($899/sq ft)
- 712 Sunrise Drive: $2,300,000 ($815/sq ft)
- 11 Leonards Lane: $1,800,000 ($1,042/sq ft)
Cape May
- 413 Washington Street: $3,400,000 ($633/sq ft)
- 718 Grand Ave: $1,639,500 ($841/sq ft)
- 710 Corgie Street: $1,450,000 ($863/sq ft)
- 837 Seashore Road: $941,000 ($383/sq ft)
- 658 Washington Street: $699,000
- 1 Goldenrod Court: $600,000 ($344/sq ft)
- 1001 Scott Ave: $560,000 ($461/sq ft)
- 200 Suzanne Ave: $509,000 ($352/sq ft)
Cape May Court House
- 202 Osprey Drive: $690,900 ($287/sq ft)
- 731 Stone Harbor Blvd: $675,000 ($643/sq ft)
- 5 Benche Court: $399,999 ($193/sq ft)
- 81 Springers Mill Road: $288,000
- 1104 Route 83: $265,000 ($246/sq ft)
- 312 Hand Ave: $250,000 ($78/sq ft)
Other Municipalities
Sales were also recorded in several other communities throughout the county, including:
- Cape May Point: A home on Alexander Ave sold for $1,925,000.
- North Wildwood: Three sales, with the highest being $3,000,000 on Saint Demetrios Ave.
- Sea Isle City: One sale on Landis Ave for $660,000.
- Villas: Three sales ranging from $223,100 to $400,000.
- West Cape May: One sale on Stevens Street for $1,540,000.
- Wildwood Crest: Three sales, with the highest at $1,180,000 on E. Monterey Ave.
- Woodbine: Two sales, one for $70,000 and another for $547,000.
Ocean City
- 16 Marshall Lane: $8,900,000 ($3,436/sq ft)
- 867 Delancey Place: $2,425,000 ($929/sq ft)
- 2145 West Ave: $1,933,500 ($966/sq ft)
- 305 15th Street: $1,925,500 ($1,632/sq ft)
- 308 13th Street: $1,500,000 ($753/sq ft)
- 3926 Central Ave: $1,300,000 ($1,082/sq ft)
- 1549 Asbury Ave: $1,290,000 ($620/sq ft)
- 120 Dory Drive: $999,000 ($591/sq ft)
- 128 Reef Drive: $862,500 ($621/sq ft)
- 14 Genoa Court: $700,000 ($515/sq ft)
- 4344 West Ave: $525,000
Wildwood
- 3400 New Jersey Ave: $1,850,000 ($167/sq ft)
- 317 E. 16th Ave: $1,520,000
- 9601 Atlantic Ave: $1,280,000 ($644/sq ft)
- 715 Turtle Gut Circle: $1,210,000 ($785/sq ft)
- 430 W. Pine Ave: $845,000 ($382/sq ft)
- 9905 Seapointe Blvd: $815,000 ($706/sq ft)
- 4217 Hudson Ave: $750,000 ($542/sq ft)
- 216 E. Juniper Ave: $726,150 ($346/sq ft)
- 110 E. Poplar Ave: $599,000 ($304/sq ft)
- 4218 Hudson Ave: $579,000 ($407/sq ft)
- 418 W. Bennett Ave: $476,000
- 9103 Atlantic Ave: $435,000
- 2001 Surf Ave: $397,777 ($58/sq ft)
- 731 W. Glenwood Ave: $398,000
- 230 W. 17th Ave: $389,000
- 6201 Ocean Ave: $255,000
- 6109 Atlantic Ave: $24,998 ($1/sq ft)
