I have lived in Sea Isle City for over 28 years and have watched it change and grow. It is a phenomena how this sleepy little town most of the year has such a following. I totally understand it as I moved here because I fell in love with the shore as a kid. It was magical to me and I still feel the same way.
The real estate market has well recovered since the collapse 10 years ago. Values have been gradually climbing for the past 4+ years. There is a unique character to this City that keeps investors and 2nd home buyers coming. But, don’t just take my word for it, let the statistics do the talking. I have taken the following information from the Cape May County Multiple Listings for as far back as their records go starting in 2008 when prices began to drop from those speculative highs before the crash and the mortgage crisis hit. I used only condominiums and condo/townhouse sales which make up the bulk of residential sales.
Calendar Year #Units Sold Median Sold Price
2008 152 $646,750
2009 165 $606,100
2010 166 $598,500
2011 185 $585,000
2012 254 $565,000
2013 213 $600,000
2014 237 $630,000
2015 274 $626,500
2016 239 $660,000
1/1/2017 to 9/14/17* 168 $700,000
*There are 29 condos and condo/townhouses pending sales set to close in 2017 but are not included in the above figure for 2017. We still have a Fall 2017 market to come.
For more specific data, please email me at email@example.com and I would be happy to provide whatever information you need regarding real estate in Sea Isle City or surrounding communities. Thanks for reading. I look forward to your comments too!