Stone Harbor’s median residential sale price reached $3,585,500 in September, running $535,500, or 17.6%, above Avalon’s $3.05 million.
An Ironside analysis of Cape May County listing records counted 16 residential closings in Stone Harbor and 19 in Avalon.
Single-family homes accounted for 12 of Stone Harbor’s sales, or 75%.
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Avalon’s transactions were more evenly divided: 10 single-family homes, five townhouses and four condos. Vacant lots and mixed-use properties were excluded.
The median marks the center of each town’s sales rather than the average price.
Stone Harbor’s median fell between the $3.471 million sale at 125 98th Street and the $3.7 million sale at 9214 Second Avenue.
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In Avalon, the middle transaction was the $3.05 million townhouse sale at 237 26th Street.
The gap reflects the properties that closed in September, not necessarily what comparable homes would command on opposite ends of Seven Mile Island.
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