It is tough to give YOU a figure without trying to zero in on the type of home and location to compare to.
With that being said here is a rough idea of what the market has been doing.
10/2009 - 10/ 2010 - 42 homes sold $622,000 - $ 3,175,000 The average being 1,500,000
There were some smaller homes that I removed that are not a true indication of an average sale.
10/2010 - 10/2011 - 54 Homes sold $550,000 - $5,460,000 - Average sale - 1,900,000
Again I took a few of the lower end small homes back on Bower , Stone Ct.
There were a few high end sales that bring up the average for the 2011.
It confirms what we are all seeing at the shore that the traffic is picking up and the inventory is coming down. That's where we are getting the jump in sale prices.
CAPE MAY COUNTY