Cape May, NJ: salty air and cultural riches

Median selling prices seem more acceptable than asking prices, which are being pulled up by tight inventories, but they still reflect the boom. In May, according to Redfin, the median home selling price in Cape May was $ 655,000, based on 25 deals, a 65% year-over-year increase. The figure for West Cape May was $ 735,000, on a transaction basis, a 33.6% increase year over year. And the figure for Cape May Point was $ 925,000, based on two transactions, down 21.7% year-over-year.

As of June 15, a six-bedroom Cape May cottage built in 1920, four blocks from the beach, was listed at $ 1.65 million, with annual taxes of $ 8,465. A six-bedroom shingle house, built in 2018 on the west end of West Cape May, was listed for $ 1.5 million, with taxes of $ 8,283. And an 1898 two-bedroom cottage one block from Lily Lake in Cape May Point was listed for $ 849,000, with taxes of $ 3,300.

In the early 1990s, Deanna Brown moved from New York to her grandmother Antoinette’s home in Cape May and opened a hotel named after her grandmother. When her father moved into the attic after her mother died (bedrooms were needed for paying guests), he made dollhouses as a hobby and Ms. Brown displayed them on the porch.

“I realized that things in Cape May are really simple and pleasant, and less stressful,” said Ms. Brown, now 74. “I knew I couldn’t get rich, but I knew I could live longer and be happier.”

Ms. Schifalacqua, the retired jockey, said the downside of the tight-knit community is that “everyone knows everyone’s business, and everyone has known your family for generations, and everyone is linked in one way or another “.

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