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Welcoming Fall in Cape May : A Guide for Buyers and Sellers

Fall in Cape May is an ideal time for real estate. As the season turns, the air becomes cooler and the leaves begin to change, Cape May transforms into a charming retreat for residents and visitors alike. Whether you live here or have visited our tiny town in the past, you know Fall in Cape May is an experience. This magical beach town has a rare charm that makes it a top location for real estate in the Fall season.

Fall is an Ideal Time to Buy or Sell in Cape May

Ambitious Buyers and Sellers

After the busy summer ends and the crowds start to fade, the Cape May real estate market starts to see more serious buyers and sellers. The market is full of sellers that are looking for buyers that are ready to commit and purchase before the holiday season. This encourages buyers to negotiate and find properties that may have been overlooked in the months before.

Competitive Pricing and Negotiations

As the summer winds down and the fall unfolds, there is often less competition among buyers. Often, this opens buyers up to more satisfying pricing and opportunities for better negotiations. If you’re in the market for a vacation rental or second home, fall is a great time to explore the local inventory without the peak-season pressure.

Opportunity for Year-End Tax Benefits

Buyers can have the added advantage of potential tax benefits when they buy a home before the year ends. Mortgage interest deductions, property taxes and other expenses are all tax benefits. These benefits can incentivize buyers to look in the fall and settle before the year closes.

Suggestions for Selling your Cape May Home This Autumn

Fall offers an organic background that can heighten a property’s curb appeal. A seller can enhance their home’s charm by staging with fall offerings. Stage with pumpkins on the front porch, an Autumnal wreath on the door, or lining walkways with mums. The historic Victorian architecture mixed with charming and cozy fall beauty of Cape May can help attract potential buyers.

Show the Season

Incorporate Cape May’s unique charm by featuring welcoming fall themes inside and outside your home. Make your home feel inviting with cozy fall décor, warm colors and tasteful quaint designs.

Improve Curb Appeal

Make sure to maintain the outside of your home for added curb appeal. Clean up fallen leaves, trim overgrown branches and keep your yard neat.

Emphasize Energy Efficiency

Also, buyers are not just interested in the cozy feeling of your home, they want to know when the weather cools, they will have energy efficient features. Buyers appreciate insulated windows, new HVAC systems and smart thermostats.

Advice for Fall Home Buyers in Cape May

Discover the Cape May Communities

Autumn is an ideal time to explore the different areas and neighborhoods of Cape May without the business of summer. From West Cape May to the different neighborhoods offshore, experience the feel of each area. Each neighborhood is very different as the calmness of fall unfolds across the county.

Enjoy the Fall Experience

Explore all the places and events that make fall in Cape May so special. From the wineries, farm festivals and corn mazes to the guided ghost tours and annual Oktoberfest, Cape May offers an abundance of fall fun to enjoy.

Work with a Homestead Real Estate Agent

A Homestead agent who knows the Cape May market can offer valuable insights into pricing developments, the top area neighborhoods based on buyer needs, and properties with strong rental possibilities.

Leading into the Fall: Cape May County Single Family Market Breakdown According to NJ Realtors

Whether you’re looking to buy or sell, Fall in Cape May offers a rare mix of charm and possibility. Contact our experienced Homestead team today to learn more about the current Cape May market trends and how to get the most out of the Fall season.

What are the qualities you need in a Real Estate Agent?

Courtesy of Trisha Kellaway, Sales Associate

The 2021 market was extremely strong and one which our community has not experienced in years. Low interest rates enticed more buyers and investors to surface and there was little to no inventory to meet the growing demand. Homes listed for sale garnered multiple offers. In some cases, buyers waved inspections (not something I recommend) and bid over asking price. Some sellers saw offers that were too good to be true. One such scenario is when an appraisal does not meet the offer and the buyers do not have the cash to cover the difference between their offer and the actual appraised value.

A buyer needs the right support to navigate this market and to achieve their goals of home ownership, without overpaying. A seller needs an agent who will advise them on what to look for in all aspects of each offer, not just the dollar amount.

As a local, full-time real estate agent with Homestead I offer the skills mentioned above in addition to the care and compassion I give each of my clients. Last year, I assisted my clients in buying and selling millions of dollars in real estate. My most rewarding sale in 2021 was a colleague from my prior career who reached out to me as their rental lease was ending. With short notice they needed to find somewhere to live, fast.

Not only did I find them a house to purchase, I found them the perfect home! We went to work that day making a strong offer, beating out other offers with an FHA mortgage. I had excellent communication and rapport with the listing agent, which assists in a more viable transaction. I recommended my clients use the best local mortgage consultant in town, who has a proven track record of getting to the closing table. The job does not stop there, there are inspections, appraisals and more to anticipate. Making it to closing day and handing my clients their keys was my highest accomplishment. I believe their review of my work says it all, “Trisha was phenomenal from our first conversation. She cared about our dream home and making the process simple. Trisha would be an asset to anyone who is looking to buy or sell a new home! Thank you, Trisha, for making our dreams come true!!!” When you make the decision to hire any professional what is the first thing you do? You ask for referrals from friends and family based on their firsthand experiences, research reviews online and hire based on a proven track record. Hiring a real estate agent should be handled the same way. I would be happy to give you my expertise and experience and assist you in the search for your dream home or the sale of your home. Please call 609.780.4469 or email TKellaway@HomesteadRealEstate.Net and allow me to assist you in achieving your real estate goals.

Cape May Communities Residential Market Stats

The year 2021 started off with the lowest interest rates on record, short supply and high demand. This trend continued throughout the year making 2021 the strongest housing market in the last 15 years. Home prices continued to dramatically increase from prior years and sellers experienced multiple offers with some being over asking price. Review the stats below to see the market growth for 2021 vs. 2020.

Cape May

Last 12 Months Sold Data (Jan 1, 2021 to Dec 31, 2021)

  • Number of Transactions: 198
  • Average Sale Price: $1,036,692
  • Median Sale Price: $877,500
  • Average Days on Market: 132

Previous 12 Months Sold Data (Jan 1, 2020 to Dec 31, 2020

  • Number of Transactions: 164
  • Average Sale Price: $887,524
  • Median Sale Price: $759,250
  • Average Days on Market: 139

Cape May Point

Last 12 Months Sold Data (Jan 1, 2021 to Dec 31, 2021)

  • Number of Transactions: 25
  • Average Sale Price: $1,221,458
  • Median Sale Price: $1,015,000
  • Average Days on Market: 140

Previous 12 Months Sold Data (Jan 1, 2020 to Dec 31, 2020)

  • Number of Transactions: 31
  • Average Sale Price: $1,096,668
  • Median Sale Price: $1,070,000
  • Average Days on Market: 149

West Cape May

Last 12 Months Sold Data (Jan 1, 2021 to Dec 31, 2021)

  • Number of Transactions: 38
  • Average Sale Price: $894,071
  • Median Sale Price: $800,000
  • Average Days on Market: 158

Previous 12 Months Sold Data (Jan 1, 2020 to Dec 31, 2020)

  • Number of Transactions: 46
  • Average Sale Price: $710,260
  • Median Sale Price: $694,450
  • Average Days on Market: 159

Lower Township

Last 12 Months Sold Data (Jan 1, 2021 to Dec 31, 2021)

  • Number of Transactions: 557
  • Average Sale Price: $376,432
  • Median Sale Price: $320,000
  • Average Days on Market: 79

Previous 12 Months Sold Data (Jan 1, 2020 to Dec 31, 2020)

  • Number of Transactions: 629
  • Average Sale Price: $316,828
  • Median Sale Price: $269,900
  • Average Days on Market: 116

SOLD In-house

See this exclusive in-house deal!

915 Columbia Avenue, Cape May, NJ 08204

Sold price: $1,200,000

This lovely, 5 bedroom 3.5 bathroom home located just outside the historic district of downtown Cape May has new ownership! The new owners have fallen in love with the proximity to everything Cape May offers, the granite counters in the kitchen, the large, spacious three-season porch off the back, hardwood flooring throughout and so much more. The property has a narrow but deep 38×266 Irregular lot – with enough ground space to add an in-ground pool! The home is now going to serve as a weekly rental, so be sure to keep your eyes on the rental market for this Cape May gem.

Craig Needles had represented the sellers while Janice Conwell and Annie Mullock had represented the buyers in this dual-disclosure transaction. For more information on the sale, or if you’re interested in listing or selling, give us a call today at 609-884-1888!

 

Office Exclusive Listing

128 Sunset Boulevard, West Cape May

Asking: $525,000

The possibilities are literally endless with this property!

 

Over 2000 square feet of open space overlooking the bird sanctuary located on a highly visible street for commercial use. Location would make an excellent restaurant, coffee house, a spa or yoga studio, retail shop or even office space. Since the focus of the property is the sanctuary, it would make a fantastic location for weekly rentals. Use your imagination and be mesmerized by the sunsets on the amazing wrap-around deck!

Don’t miss out, schedule your showing today by calling our office!

 

ONCE IN A LIFETIME VIEW

This is a once in a lifetime dream come true with once in a lifetime views.  This is your chance to own a spectacular bay front property with unobstructed views of the most unforgettable sunsets on the east coast.

Inside this 6 bedroom, 4.5 bath home you will find an oversized gourmet eat-in kitchen, 2 master suites on the first floor, oversized sunken family room with cathedral ceilings, ceiling to floor windows and so much more!

Outside is an attached two car garage, outside shower, spacious deck which leads to the  beach, front porch, new bulkhead and more!

This home is being sold completely turn-key and has a fantastic rental history.17 Rosewood

EXPANDED AND IMPROVED

234 E PacificDon’t miss this impeccably maintained 3 bedroom, 2 bath home which has been expanded and improved since the current owners purchased it in 2000.  Improvements include a new central heating and cooling system, updated kitchen, updated bathrooms, bamboo flooring and more.  Outside, the yard is nicely landscaped and includes a deck, koi pond, pool and hot tub.

UNIQUE FIND

1105 MissouriDon’t miss this unique find in the heart of Cape May.  Pride of ownership abounds in this 3 bedroom, 2 full bath ranch home which includes hardwood floors, newly installed kitchen, separate laundry room and more.  Outside enjoy the cool breezes of summer while sitting on the covered front porch or enjoy a game of ball in the spacious back yard.

ONCE IN A LIFETIME OP[PRTUNITY

This is a once in a lifetime opportunity to own the Doctors Inn Bed and Breakfast/Restaurant which offers 8 guest suites, each with private baths, fireplace, antique furnishings and draperies.  The restaurant has a completely equipped commercial kitchen with a dining area with seating for 30+, outdoor dining , and the capacity for tented wedding events in the carriage house.

Guests can gather in the formal parlor and feel transformed into an era gone by, or enjoy some quiet time and a good book in the sun-filled solarium.  The basement offers  an abundance of storage and possibilities.  Here you will find the owners office, laundry, wine cellar, executive conference area and ramp access for deliveries.

The carriage house which is adjacent to the Inn includes 3 bedrooms and 2 baths, open floor plan with cathedral ceilings, spacious modern kitchen with cherry cabinets, large deck and elevator.

This is truly a must see to  appreciate property with unlimited potential and endless possibilities.  Located on a 1.5 acre parcel in the center of the busy commercial district.  Don’t let this opportunity pass you by!2 N Main Street

Quiet Cul-De-Sac

Situated on an oversized lot in a desirable neighborhood you will find this 3 bedroom, 2 bath home with wonderful curb appeal.  The front paved walkway leads to the cozy covered front porch.  Inside you will find an open floor plan with cathedral ceilings and stainless steel appliances and them onto a sunny Florida room which includes heat and a/c for year round use.  The rear of the home includes a large screened porch which faces the woods for privacy.  The current owners have lovingly maintained the gardens surrounding the home which offer a paradise of perennials.  1 Cormorant Way