Ironside Shore Wire

Seven Mile Island sellers spent the first half of 2026 giving ground.

An Ironside Shore Wire analysis of publicly available residential sales records for Avalon and Stone Harbor from Jan. 1 through July 7 found that 66 of 83 homes closed below their original asking price.

That’s 79.5%, nearly four out of every five sales.

In Avalon, 51 of 63 residential sales closed below original ask. In Stone Harbor, 15 of 20 did the same.

The pattern suggests buyers kept buying, but they balked at ambitious opening prices.

Across Avalon and Stone Harbor, the median sale closed about 4.1% below original asking price, according to Cape May County MLS data.

The total gap between original asking prices and final sale prices across residential sales topped $22 million.

Heck, that’s almost real money.

Avalon showed the clearest split. Some properties moved quickly. Others sat for months.

But price reductions weren’t confined to stale listings or lower-priced properties.

A home at 415 20th Street in Avalon sold for $8.087 million after originally asking $9.995 million, a reduction of roughly 19%. A home at 46 W. 31st Street sold for $5.3 million after originally asking $6.195 million, a reduction of about 14.4%.

Stone Harbor showed the same pattern on a smaller sales base.

A home at 11013 Sunset Drive sold for $6.25 million after originally asking $7.495 million. A townhouse at 370 83rd Street sold for $4.5 million after originally asking $5.399 million. A home at 9619 Seng Place sold for $3.276 million after originally asking $3.95 million.

Each closed more than 16% below its original asking price.

Here’s the distinction that matters: Seven Mile Island remains a luxury market, it’s just one that became tougher for sellers to dictate price.