Escape to the Cape | North Cape May Market Report - Wayne Piersanti
Recently I wrote about the flight from the major cities that has resulted in suburban and rural areas experiencing a significant amount of traffic from potential home buyers. As a consequence prices have gone up significantly in our little town with an average listing price of over $1,700,000 for currently available residential properties in Cape May City, over $1,000,000 in Cape May Point, and approaching $950,000 in West Cape May. That might be a little too pricey for someone looking for a spot to land, but have no fear. Just north of the Cape May Canal, there s still a spot for the average Joe. Situated at the Southern tip of the Jersey Cape, Lower Township shares a shoreline with the Atlantic Ocean and the Delaware Bay. These areas were first settled by whalers from New England and Long Island sometime around 1635. Whales at that time were so close to shore that you could actually row right up to them. They did not know enough about œwhalers � to keep their distance. (Interestly enough, one of the first homes I sold as a professional Realtor had a deed restriction that prohibited the use of œwhale rendering � on site. Fortunately my buyer was not interested in commercial use. Lower Township is now the largest municipality in the county with a population of about 23,000. Down by the Ferry Terminal is a section of Lower Township called North Cape May. As of July 13, 2020, there are 26 active listings in North Cape May ranging in price from a $157,900 fixer-upper to a 4 bedroom, 3 ½ bath home situated on a 1.96 acre lot being offered at a pre-construction price of $699,000 and located at 6 Harvest Court. New construction is also being offered at 1 and 2 Leonard Drive off of Breakwater Road, with two listings priced at $379,490 and $359,990 respectively. Both feature an expansive lot size and various smart home features. A short walk from the Bay you can purchase a 2 bedroom, one bath rancher for $239,000. You can also get a 4 bedroom Cape Cod style home near TownBank Road for $309,900 reduced from $324,900 after 146 days on the market. The average listing price in North Cape May right now is $324,045 North Cape May features many nearby restaurants like 5 West Pub, Harpoons on the Bay and the Red Brick Ale house. Many feature live entertainment and the summer concerts at the Ferry are simply outstanding. And the sunsets are free! With all the money you save buying œOff the Island � you ll have a lot of bread left over to pay the Uber driver for the short ride to the beautiful City of Cape May! This is Wayne Piersanti, Broker-Salesperson for Coastline Realty, keeping it real. For information on any of these listings, I can be reached at (609) 540-3374 or waynepiersanti@gmail.com. Also, we can assist you in finding a just the right buyer for your Home.Coastline Realty is Cape Island s top producing, full service real estate agency, consistently representing the most buyers & sellers in the Cape May area.(Information was compiled from the Cape May Multiple Listing Service and deemed reliable but not guaranteed.)
