Home Values

Cape May County Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$339,000

  • 3.9% 1-year change
  • 1.6% 1-year forecast

The median home value in Cape May County is $339,000. Cape May County home values have gone up 3.9% over the past year and Zillow predicts they will rise 1.6% within the next year. The median list price per square foot in Cape May County is None. The median rent price in Cape May County is $1,495, which is the same as the Ocean City Metro median of $1,495.

Foreclosures will be a factor impacting home values in the next several years. In Cape May County 1.1 homes are foreclosed (per 10,000). This is lower than the national value of 3.0

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 18.1%, which is higher than the national value of 6.3%. 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 13.5%.

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Relative ZHVI
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Cape May County Market Overview

Data through Mar 31, 2015
  • $339,000 ZHVI
  • 1.6% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Mar 31, 2016)
  • No data Median listing price
  • $345,765 Median sale price (Feb 28, 2015)
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Cape May County Market Health

Data through Mar 31, 2015
  • 4.6/10 Stable
    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.
    (Feb 28, 2015)
  • 202 Average days on Zillow (Feb 28, 2015)
  • 13.5% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 18.1% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

1.1 homes(Feb 28, 2015) Cape May County
3 homes United States
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Cities in Cape May County

Name Median ZHVI
Stone Harbor $1,102,400
Avalon $978,600
Sea Isle City $600,700
Name Median ZHVI
Upper Township $252,200
Cape May Court House $223,200
Middle Township $214,700
Name Median ZHVI
Dennis Township $208,800
Whitesboro-Burleigh $157,000
Woodbine $152,000

Listings & Sales

Data through Feb 28, 2015
  • No recent data Median list price / sq ft
  • $289 Median sale price / sq ft
  • No data Listings with price cut
22.2%
Sold below listing
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Cape May County Rentals

Data through Mar 31, 2015
  • Zillow Rent Index

  • $1,737 Cape May County
    $1,737 Ocean City Metro
    $1,362 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 6.0 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,495 Rent list price
  • No data Rent list price / sq ft
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