Seven Mile Island sellers moved nearly $238 million in residential real estate between Memorial Day and Labor Day.
Most had to give something up to get there.
Of 55 houses, townhouses and condos that closed during the summer window, 47 — 85.5% — sold below their original asking prices, according to an Ironside Shore Wire analysis of MLS data.
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Six met their original ask. Two exceeded it.
Together, sellers initially sought $250.04 million for the 55 properties. Buyers paid about $238 million.
That left roughly $12 million between opening expectations and closing checks.
The resistance crossed both towns.
Avalon recorded 41 residential sales totaling $168.27 million. Thirty-five closed below their original asking prices, four met them and two exceeded them.
Stone Harbor recorded 14 sales totaling $69.74 million. Twelve closed below their original asks. Two met them. None exceeded its opening price.
Some gaps reached seven figures.
CONTINUE YOUR BRIEFING
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The largest came at 182 65th Street in Avalon. The property started at $7.995 million and closed July 20 for $6.75 million — $1.245 million below its original ask.
The average residential sale still topped $4.32 million.
The median reached $3.85 million.
Buyers simply showed they could spend heavily without accepting every seller’s first number.
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