After seven months on the market and a nearly 23 percent reduction from its original asking price, an Avalon home has finally found a buyer.
The three-bedroom home at 647 Barry Road is under contract after 212 days on the market, according to Cape May County MLS records.
The property originally entered the market at $1.875 million before a series of price adjustments brought the asking price down to $1.449 million.
That’s a reduction of $426,000, or about 22.7 percent.
The transaction adds to a pattern that has emerged in recent weeks across Seven Mile Island: Homes lingering on the market are finding buyers only after meaningful price adjustments, while well-priced new listings continue to move much more quickly.
The sale is scheduled to close July 31.
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