08204 — Cape May County, New Jersey Market Snapshot
Housing market data for zip code 08204 in Cape May County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
62 sales in 2026 (year to date)
Median Sale Price
$612,500
Days to Sell
61
Homes Sold
62
Inventory
57
Sale-to-List
98.2%
New Listings
86
Price/SqFt
$430
Pending Sales
75
Conforming Loan Available
Most homebuyers in 08204 can comfortably use conventional financing. The median home price of $612,500 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
With homes sitting for 61 days on average, 08204 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Sale-to-List Ratio
Homes are selling very close to asking price in 08204 (98.2% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 08204 can comfortably use conventional financing. The median home price of $612,500 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 08204 are set at the county level.
2026 Loan Limits — Cape May County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $730,250 |
| 2 Units | $1,066,250 | $934,850 |
| 3 Units | $1,288,800 | $1,130,000 |
| 4 Units | $1,601,750 | $1,404,350 |
Affordability Snapshot — Zip 08204
To purchase the median home at $612,500 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $4,843.
Monthly Payment
$4,843
Income Required
$207,548
Principal & Interest
$3,774/mo
Down Payment (5%)
$30,625
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 08204.
Estimated Monthly Payment
$3,941
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