NJShore Guide

08204 Real Estate

Cape May Housing Market

$834KMedian Price
64Listings
78Days on Market

Cape May Housing Market (08204)

Cape May County presents opportunities for patient buyers. Prices are down 16.1% from last year, with a median of $834,000. Homes are staying on market longer at 78 days average, giving buyers leverage in negotiations.

Prices are in line with the broader shore market median.

Winter is typically the slowest season for shore real estate. Serious sellers may be more flexible on price during these months.

Price Trends (24 Months)

$757K$820K$883K$946K$1.0MFeb '24Jun '24Oct '24Feb '25Jun '25Oct '25Jan '26
Median List Price
Latest: $834K

Current Market Snapshot

Median Price
$834K
-16.1%YoY
Active Listings
64
Days on Market
78
Monthly Change
-2.3%

Compared to Cape May County

ZIP Median Price
$834K
County Median
$800K
Difference
+4.3%above county avg

Market Health Indicators

Price Trend
-16.1%
Days on Market
78 days
Inventory
64

About Cape May

Cape May is a shore community in Cape May County. Learn more about beaches, attractions, dining, and events.

Cape May

Try Before You Buy in Cape May

Considering a move to 08204? Rent a vacation home first to experience the neighborhood and lifestyle before committing.

Browse Vacation Rentals

Investment Potential

Investment Calculator

Estimate your potential returns if you rent out your Cape May property during summer months.

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10%$167K50%
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Peak summer week rate

4 wks20 wks

Annual Summary

Gross Rental Income$30,000
Est. Expenses (30%)-$9,000
Net Rental Income$21,000
Annual Mortgage-$53,296
Property Tax (est.)-$15,020
Annual Cash Flow$-47,316
Cap Rate
0.7%
Cash-on-Cash
-28.4%

Investment Outlook

Challenging as pure investment. Negative cash flow means you would need other income or appreciation to justify. Better suited as a vacation home with some rental offset.

* Estimates only. Consult a financial advisor and research local rental regulations. Expenses estimate includes insurance, maintenance, management, and vacancy.

Nearby ZIP Codes

08226Ocean City08248Strathmere08243Sea Isle City08202Avalon08247Stone Harbor08260Wildwood

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08204 Real Estate FAQs

What is the median home price in Cape May (08204)?
The current median list price in Cape May (ZIP 08204) is approximately $834K. Prices vary based on proximity to the beach, property size, and condition. Check the market snapshot above for the latest data.
Is Cape May a good place to buy a shore home?
Cape May offers its own unique character within Cape May County. Consider factors like beach access, local amenities, commute times, and rental potential. Many buyers rent in the area first to experience the community before purchasing.
How long do homes stay on the market in 08204?
Days on market in Cape May varies seasonally. Summer listings often move faster due to higher buyer activity. Check the current market metrics above to see how quickly homes are selling in this area right now.
Can I rent out my property in Cape May?
Rental regulations in Cape May depend on local ordinances. Some shore towns welcome short-term vacation rentals while others restrict them. Contact the local municipality for current rental permit requirements and restrictions.
What are the flood insurance costs in 08204?
Flood insurance costs in Cape May depend on the property's elevation, flood zone designation, and whether the structure has been elevated. Properties in high-risk zones (A or V zones) require flood insurance for federally-backed mortgages.
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