Cape May Court House, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Cape May Court House Neighborhoods Since 2000




Cape May Court House, NJ Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Cape May Court House Housing Market Information

With 5,330 people, 2,182 houses or apartments, and a median cost of homes of $282,533, Cape May Court House real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Cape May Court House, accounting for 64.46% of the town's housing units. Other types of housing that are prevalent in Cape May Court House include duplexes, homes converted to apartments or other small apartment buildings ( 13.93%), mobile homes or trailers ( 7.98%), and a few row houses and other attached homes ( 7.34%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cape May Court House. Owner-occupied housing accounts for 68.29% of Cape May Court House's homes, and 57.38% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cape May Court House built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Cape May Court House built between 1940-1969 ( 26.66%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.88%). There's also some housing in Cape May Court House built before 1939 ( 14.87%).

Vacant housing appears to be an issue in Cape May Court House. Fully 17.85% of the housing stock is classified as vacant. Left unchecked, vacant Cape May Court House homes and apartments can be a drag on the real estate market, holding Cape May Court House real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Cape May Court House Home Appreciation Rates

Homes have actually lost value in Cape May Court House over the last then years, as home values have seen a decline of 24.00% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Cape May Court House home appreciation rates at -3.51%, which equates to an annual appreciation rate of -13.30%.

Over the last year, Cape May Court House appreciation rates have trailed the rest of the nation. In the last twelve months, Cape May Court House's appreciation rate has been -1.20%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cape May Court House were at -3.51%, which equates to an annual appreciation rate of -13.30%.

Notably, Cape May Court House's appreciation rate in the latest quarter is one of the lowest in America.

Relative to New Jersey, our data show that Cape May Court House's latest annual appreciation rate is lower than 90% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$282,533

Cape May Court House, NJ HOME PRICES

Value Range
> $981,000 0.8
$736,001 - $981,000 0.7
$490,001 - $736,000 9.9
$392,001 - $490,000 8.6
$294,001 - $392,000 21.7
$196,001 - $294,000 43.0
$98,001 - $196,000 7.1
$49,001 - $98,000 0.7
$0 - $49,000 7.6

Low for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
18.182350873081 68.9024390243902

Number Of Homes And Apartments:
2,182

Cape May Court House Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
38.40% 1.90% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,437 / per month

Homeownership Rate

Homeownership
Owners 68.29
Renters 31.71
Vacant 17.85

Housing Market Details

 

Age of Homes

AGE OF Cape May Court House HOMES
2000 or Newer 17.9
1970 - 1999 40.6
1940 - 1969 26.7
1939 or Older 14.9

Types of Homes

TYPE OF Cape May Court House HOMES
Single-Family 64.5
Townhomes 7.3
Small Apt. Buildings 13.9
Apt. Complexes 6.3
Mobile Homes 8.0
Other 0.0

Home Size

SIZE OF Cape May Court House HOMES
No Bedroom 6.93
1 Bedroom 9.22
2 Bedrooms 22.36
3 Bedrooms 41.75
4 Bedrooms 15.63
5 or more bedrooms 4.10