Cape May County Home Prices & Values

$328,700 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.0% 1-year change
  • -1.6% 1-year forecast

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%.

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Relative ZHVI
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Cape May County Market Overview

Data through Jun 30, 2014
  • $328,700 ZHVI
  • -1.6% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Jun 30, 2015)
  • $395,000 Median listing price
  • $387,500 Median sale price
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Cape May County Market Health

Data through Jun 30, 2014
  • 4.2/10 Less healthy What's This?  
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    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.

  • 242 Average of days on Zillow (May 31, 2014)
  • 14.8% Homes with negative equity (18.8% US Avg) (Mar 31, 2014)
  • 19.3% Delinquent on mortgage (7.2% US Avg) (Mar 31, 2014)

Homes foreclosed (per 10,000)

0.7 homes Cape May County
4.3 homes United States
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Cities in Cape May County

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Stone Harbor $1,103,200 Avalon $1,006,400 Sea Isle City $622,900
Upper Township $253,100 Cape May Court House $224,100 Middle Township $212,100
Dennis Township $210,400 Whitesboro-Burleigh $156,300 Woodbine $152,600

Listings & Sales

Data through Jun 30, 2014
  • $300 Median list price / sq ft
  • $262 Median sale price / sq ft
  • 29.8% Listings with price cut
25.8%
Sold below listing
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Cape May County Rentals

Data through Jun 30, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,641 Cape May County
$1,641 Ocean City Metro
$1,310 United States
  • No data Breakeven horizon
  • No data Rent list price
  • No data Rent list price / sq ft
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