UPDATE: A stunning residential property in Stone Harbor has just sold for a remarkable $8.5 million, making it the most expensive home in Cape May County for the week of October 20-26, 2023. This sale highlights a bustling real estate market, with a total of 191 residential sales recorded during the same period, averaging $961,054 per property.
The luxurious home at 106 120th Street, built in 2021, features a spacious living area of 3,289 square feet, which translates to a striking price per square foot of $2,584. The deal was finalized on September 30, showcasing the high demand for upscale properties in this sought-after area.
As the county continues to see significant activity, the average price per square foot across all sales reached $678. The following list highlights the ten most expensive residential real estate transactions this past week:
1. **$8.5 million** – Single-family home at **106 120th Street**, Stone Harbor
2. **$4.999 million** – Single-family home at **188 34th Street**, Avalon
3. **$4.875 million** – Detached house at **4599 Fifth Ave.**, Avalon
4. **$4.55 million** – Single-family house at **283 86th Street**, Stone Harbor
5. **$3.85 million** – Single-family home at **131 E. Atlantic Blvd.**, Ocean City
6. **$3.5 million** – Single-family home at **270 19th Street**, Avalon
7. **$3.245 million** – Single-family residence at **520 21st Street**, Avalon
8. **$3.1 million** – Condominium at **8211 Sounds Ave.**, Sea Isle City
9. **$3.05 million** – Single-family house at **108 27th Street**, Avalon
10. **$3 million** – Single-family house at **19 Caroline Lane**, Ocean City
These high-value transactions reflect a robust real estate market in Cape May County, driven by both local and out-of-state buyers eager to invest in coastal properties. The emotional appeal of owning a vacation home near the beach continues to attract significant interest.
Looking ahead, industry experts anticipate that these trends will continue, with potential buyers closely watching available listings. As the market shifts, further updates on sales prices and emerging hotspots will be essential for those interested in navigating the competitive real estate landscape.
Stay tuned for more real estate news, including the latest developments in nearby areas and what to expect in the coming weeks. The Cape May County real estate market is heating up, and you won’t want to miss out on what’s next!
