T
he COVID-19 pandemic has significantly altered the real estate market in Cape May County, with many homes that were once vacant for half a year now being occupied full-time. This shift is largely due to people's ability to work from home and discover the benefits of a slower lifestyle.

    The demand for housing, particularly in barrier island communities, has reached unprecedented levels, extending into mainland towns. A recent panel discussion hosted by the Cape May County Chamber of Commerce explored the state of real estate in the area.

    Experts from various agencies representing coastal and mainland communities shared their insights on the current market trends. They noted that the pandemic has created a unique opportunity for people to experience the county's diverse offerings, including beaches, woods, and horse farms, beyond just summer visits.

    The panelists agreed that the market is growing due to people moving full-time into their former second homes, with many continuing to buy vacation properties. The demand is driven by factors such as low interest rates, economic uncertainty, and the desire for a slower pace of life.

    Despite a record-low inventory, the demand remains high, with prices continuing to rise. The panelists attributed this to the area's unique charm, affordability compared to other coastal towns, and the appeal of lower county taxes.

    The pandemic has also accelerated the use of technology in real estate marketing, with agents using virtual tours, 3D images, and streaming services to showcase properties. However, some panelists noted that technology can create a disconnect between what buyers see online and reality.

    As the market continues to evolve, experts predict that prices will remain high, driven by demand from both local and out-of-town buyers. The county's unique character, affordability, and lower taxes are expected to maintain its appeal as a desirable destination for those seeking a slower pace of life.