Cape May NJ Real Estate Information

 Cape May Real Estate Appreciation Rates | 1990 to Current

Cape May has a year-round population of 3500(est). Over the last 25 years’ real estate has appreciated by 161% and currently the median value of a home in Cape May is $319,000 (est).

Source: Neighborhood Scout 2016

A history of Real Estate in Cape May

·         Discovered in on August 28^th 1609 by Henry Hudson (https://en.wikipedia.org/wiki/Cape_May_Historic_District)

• · In the 1600’s primarily a Whaling and Fishing community
• · Turned into a tourist destination in the 1800’s
• ·  Henry Clay, Abraham Lincoln and Ulysses Grant are just a few of the notable visitors from 1847-1883

After the war of 1812 Cape May began to experience what you might refer to as Tourism. Steam boat technology allowed this small city to lay claim to the title of “America’s first seaside resort”. The 1800’s saw our little hamlet building Victorian style homes and hotels followed shortly by seaside cottages. Many of the original structures are still standing. To this very day Cape May is considered to be one of the most historically valuable communities in the united states. Over 50 buildings are listed in the Historic American Buildings Survey at the Library of congress. Half of these buildings were constructed in the late 1800’s. I love the historic residential properties. Here are a few of my favorites:

 One of Seven identical homes that epitomize the classic Victorian “balloon framing” building technique. Built by Stephan Decatur Button. Button is responsible for over 30 historic buildings in Cape May and has become synonymous with Cape May architecture.

Designed and built in 1881 by Enos Williams. This building replaced a Hotel destroyed in what was billed as “The fire by the sea” . There is much speculation about this structure imitating others of the era. My I just say I like it J

Another by Enos Williams. Also blue which as I’m sure your able to guess is one of my favorite colors. The house is beautiful too.

The Cape May lifestyle

Thinking about retirement or investment property? Cape May is unique amongst seaside resort cities. We have 1200 homes that are considered “historic”. That’s one historic home for every three residents. Supposedly we have more bed and breakfasts than anywhere else in the country. You can still visit the Hotel Abraham Lincoln spent the night in. For such a small city we receive a lot of attention from literary types. There is even a book called “Historic Cape May, New Jersey”.  I would love to take credit for some of this literary love. But we just got lucky.

In 1812 after the great war steamboats traveled our great waterways with frequency. Located conveniently on the mouth of Delaware bay Cape May was a convenient stop over for travelers coming from Washington, Baltimore and headed towards New York. Our little city attracted some of the ages top builders and architects. They left behind some of the greatest surviving examples of the following historic architecture types:

• ·          Victorian
• ·         Gothic Revival
• ·         Gingerbread
• ·         Queen Anne

Our entire town was listed as a historic landmark in 1976. While our standing population is 3500-4000 during the summer months the city will accommodate up to 40,000 visitors during the course of a weekend.

Despite our foot traffic we have NO major chain stores. Our streets are lined with small independent store keeps. I’ve lived here for decades running a small business of my own. There is so much to do in Cape May. Here is a short list of activities that my friends, clients and customers seem to enjoy:

·         Antiquing

·         Foodie adventures (our restaurants are shockingly good for a resort town) 

·         Fishing (Surf and Sea)

·         Swimming (In a hotel pool or the ocean or both)

·         Hiking (We have a wide range of natural trials)

·         Whale and Dolphin watching

·         Golfing

·         Arting (Is that a word? Looking at art galleries J )

·         Historic tours (walking tours- museum tours abound)

·         Wine Tasting’s and tours

·         Bicycling

·         Carriage rides and Arcades for those young at heart or simply young

If this isn’t enough to keep you occupied on a family vacation or perhaps in retirement, Atlantic city is 45 minutes away and provides a whole host of adult activities.