Real Estate Market Update for
Cape May Court House, NJ
Welcome to September's Market Update. Let’s take a look at residential real-estate activity in your area during the month of August. The number of active listings was down 8% from one year earlier, and did not change from the previous month. These latest figures mean that buyers had a more limited selection of homes to choose from compared to the same month the previous year. As you can see, the median listing price for the month was just under 250-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 64%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 150-thousand dollars. The number of units sold decreased 57% year-over-year, and decreased 67% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.