Cape May Real Estate Boom Sees Prices Skyrocket as Wealthy Buyers Flock to Historic Shore Town
A surge in out-of-state buyers, fleeing high taxes and urban congestion, has sent median home prices in cape May soaring over 40% year-over-year, with waterfront properties now commanding $3 million-plus valuations. The historic resort town, once a quiet seasonal enclave, is now a year-round battleground for luxury second homes and remote worker relocations, straining local infrastructure and zoning laws.