$319,900 House For Sale
4 bed, 1.0 bath, 1,442 sqft
The median home value in Cape May County is $328,700. Cape May County home values have gone up 2.0% over the past year and Zillow predicts they will fall -1.6% within the next year. The median list price per square foot in Cape May County is $300, which is the same as the Ocean City Metro average of $300. The median price of homes currently listed in Cape May County is $395,000 while the median price of homes that sold is $387,500.
Foreclosures will be a factor impacting home values in the next several years. In Cape May County 0.7 homes are foreclosed (per 10,000). This is lower than the national value of 4.3
Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Cape May County is 19.3%, which is higher than the national value of 7.2%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Cape May County homeowners underwater on their mortgage is 14.8%.more
The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
Homes foreclosed (per 10,000)