How Much Equity Have Jersey Shore Homeowners Gained Since 2020?
If you've owned a home at the Jersey Shore since 2020, there's a good chance your property value has increased significantly.
Back in 2020, many Wildwood-area condos were selling in the $250,000 to $400,000 range. Today, similar properties often command $500,000 to $700,000 or more, depending on location, condition, and amenities. Throughout Cape May County, home values have experienced substantial appreciation over the past five years as demand for shore properties surged and inventory remained limited. Recent market reports show Cape May County's median home price now exceeds $740,000, while the average home value is approaching $785,000.

 
Many homeowners are surprised to learn just how much equity they have built. A property purchased for $350,000 in 2020 may now be worth $550,000 or more. For some owners, that could mean $200,000 or more in additional equity without making major improvements.
At the same ...

Is Now the Right Time to Buy a Home?
If you’ve been thinking about buying a home but aren’t sure if the timing is right, you’re not alone. Many buyers are waiting to see what happens with the market. But here’s what smart buyers know: this summer could be a good time to buy.
Why?
You have more negotiating power and better chances at getting a deal.
After a few years of sellers having the upper hand, the market is shifting in certain areas. Homes aren’t selling as quickly, and the number of listings has stayed steady — giving buyers more options.
Take a look at what’s happening at the shore:


In Wildwood Crest, home sales are down 44%, and condo sales are down 35% compared to last year and homes are staying on the market longer.


In Sea Isle City, closed condo and town home sales are down 24%, and sale prices have dropped nearly 18%.



What This Means for You
With fewer buyers and longer days on market, sellers are more open ...

The data for May will be released at the end of June, it always lags about 3-4 weeks.  Reach out today to buy and sell and put my decades of experience to work for you; I look forward to helping you achieve your real estate goals here in Cape May County. ...

Like thousands of others, CBS-3 came "down the Shore" for Memorial Day Weekend, filing this video report.  Reach out today to buy and sell at the Jersey Cape!

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