Cape May County, NJ, Most Expensive Second Home Market in Nation
The Jersey Shore is filled with many beautiful vacation homes or second homes.
Many people from in and around the Philadelphia region have been calling Ocean City, Sea Isle, Avalon, Stone Harbor, The Wildwoods, and Cape May "home" for decades and now they are paying a much higher price.
Cape May County has become one of the most expensive spots in the country for second homes according to a report from Pacaso. The report ranks Cape May County 15th in the nation in volume of sales, but the average cost per home, $989,000, ranked as the highest in the country.
Located along the picturesque Jersey Shore, Cape May County has an average second home price of $989,000 but has been a beloved summer destination for East Coast residents for years. One of the county's most popular towns is Avalon, which sits at the northern end of the "7 Mile Island" and extends a mile farther east into the ocean than neighboring resorts. Known also as the "Cooler by a Mile" town, Avalon is a favorite among second home buyers seeking a refreshing coastal retreat.
It's the only county in the state to land on the list, which was topped by Maricopa County in Arizona followed by Horry County, South Carolina; and Lee County, Florida in the top three.
Cape May County has a ton to offer in the summertime, with the beaches, a boardwalk, and great food options, families continue to call Cape May County their second home. Its proximity to the highly populate Philadelphia region makes it a huge draw as a second-home destination.
The study was done by Pacaso, who identified the top U.S. second-home markets by selecting the 15 counties with the highest second-home transactions between January 1 and May 3, 2023.
The full list is here.