08247 — Cape May County, New Jersey Market Snapshot
Housing market data for zip code 08247 in Cape May County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
10 sales in 2026 (year to date)
Median Sale Price
$2,487,500
Days to Sell
50
Homes Sold
10
Inventory
36
Sale-to-List
97.5%
New Listings
29
Price/SqFt
$1,340
Pending Sales
14
Jumbo Loan Likely Needed
The median home in 08247 at $2,487,500 exceeds the 2026 conforming loan limit of $832,750 by $1,654,750. Most buyers here will need jumbo loans, which typically require higher credit scores, larger down payments, and come with different rate pricing.
Market Insights
Market Temperature
08247's market is balanced with homes taking an average of 50 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
The average home in 08247 sells for 2.5% below asking price (97.5% sale-to-list), suggesting buyers have negotiating leverage in the current market.
Conforming Loan Feasibility
The median home in 08247 at $2,487,500 exceeds the 2026 conforming loan limit of $832,750 by $1,654,750. Most buyers here will need jumbo loans, which typically require higher credit scores, larger down payments, and come with different rate pricing.
Loan limits in 08247 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 08247
To purchase the median home at $2,487,500 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $19,208.
Monthly Payment
$19,208
Income Required
$823,218
Principal & Interest
$15,327/mo
Down Payment (5%)
$124,375
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 08247.
Estimated Monthly Payment
$15,545
Jumbo loan required. Loan amount exceeds the $832,750 conforming limit for 08247.
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