Property prices for sale in Cape May (New Jersey)

The prices in real estate in Cape May, in the New Jersey region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.

$1,396,447.67
Average price last 6 months
$715.17
Price/sq.feet last 6 months
Average price per sq.feet

The price per sq.feet in Cape May has had a strong decrease during the last 6 months. In September, the average price per sq.feet was $845. In October this price pretty much remained the same at a value of $834 per sq.feet. The price for the following two months in (November, December) had a considerable decrease of 76 with regard to the prior two months. The price per sq.feet has decreased 91 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $738.25 to $669 during January, and February.

Average price

Based upon to the price in Cape May (cities), this has fallen considerably in the last 6 months. In our first sample month during September, the average price is $1,829,457. In October This price remains at $1,747,059. During the following two months (November, December) the average price had a considerable reduction of 61 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 92 %, going from $1,436,970.5 to $1,315,402 in January and February.

Average price per bedrooms

The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $1,250,593 they are 44 % more affordable than the average price for Cape May. The properties with the lowest average price have 3 bedrooms, Their price is 41 % cheaper than the average. After that we have properties with 4 bedrooms priced at $743,625.

With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $389 / sq.feet, with an average $666 / sq.feet price in Cape May. The properties with the highest average prices have 1 bedroom. They are 56 % more expensive than the average followed by properties with 2 bedrooms with a price at $703 / sq.feet.

Price per property type

The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $1,250,593 it is 71 % cheaper than the average price in Cape May. "Condo" is seen as the second most affordable property type. The dearest property type is "House" followed by "Detached House". At a price of $1,229,537 it is 15 % more expensive than the average price.

According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $370 / sq.feet followed by "Detached House" priced at $611 / sq.feet. "Condo" is the most costly type of property with a $726 / sq.feet cost followed by "House" with an average price of $637 / sq.feet.

Charts data
Average price February
Average price per sq.feet February
Number of properties used in Cape May
Number of properties used in region New Jersey
$1,250,593
$666
844
422,810
** Graph's data with null or zero value are due to there isn't enough data available to get a reliable value