The story of this market
The typical home in ZIP 08202 sells for about $3,499,000, or $1,320 per square foot.
Prices are down 5.4% from a year ago, which gives buyers more room to negotiate. Homes take about 87 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,708 a month.
ZIP 08202 — Avalon
The market in 08202 is experiencing a cooling trend with a year-over-year price decline of 5.4% as inventory remains tight and seasonal demand fluctuates. High interest rates and coastal insurance costs are tempering buyer enthusiasm in this luxury-heavy market. The area remains a niche, high-value destination primarily for affluent second-home owners.
This ZIP is primarily for affluent second-home buyers, luxury vacationers, and investors seeking high-end coastal real estate.
Median prices moved down 5.4% year over year.
Homes spend a median of 87 days on market with 0.0 months of supply — a slower-moving market.
0% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.5% · poverty 4.5% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical -0.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 08202, Cape May County, NJ
The area is a coastal barrier island community with high exposure to storm surge, wind, and flood risks, necessitating specialized flood insurance.
The local economy is heavily driven by seasonal tourism and high-end residential real estate, with limited industrial or corporate development.
Property taxes are assessed at the municipal and county levels in New Jersey, which has one of the highest effective property tax rates in the nation.
Commuting is primarily via private vehicle; the area is isolated on a barrier island with limited transit options to mainland employment hubs.
The area features extensive Atlantic Ocean beaches, boardwalks, and high-end shopping and dining districts centered in the borough.
The rental market is dominated by seasonal short-term vacation rentals with high vacancy pressure during the off-season.
The economy is almost exclusively supported by the tourism, hospitality, and luxury real estate sectors.
Parcels are subject to municipal, county, and local school district property tax levies.
Property insurance premiums are high due to significant coastal hazard exposure and flood zone requirements.
Data retrieved from Census Reporter and IncomeByZipCode.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Primary coastal attraction for the borough.
High-end retail and dining corridor.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.