Cash Buyers in South Florida’s Real Estate Market
Buyers who pay Cash for their Property purchases in South Florida instead of Financing their Property purchases with a Mortgage continue to represent a significant portion of South Florida’s Real Estate Buyers.
Note: Cash paid for Property purchases is paid in the form of Funds wired to a Bank Account, typically the Bank Account of a Title Company or Attorney, and then wired to the Property Seller’s Bank Account at the time of Closing.
Below are details about Cash property Transactions that were conducted in Broward County during the Months of January – June of 2018, per MLS Residential Property sales Records for Single Family Homes, Condos and Townhomes. I will include information for Palm Beach County and Miami-Dade County in separate posts to follow later.
The largest numbers of Cash Buyers are in the Luxury Market overall and all price ranges of the Condo Market.
Cash Purchases of Broward County Condos and Townhomes
- $1,000,000 – $5,050,000 purchase price range: 67% of the Transactions were Cash purchases. 175 total Properties were sold and 118 were Cash purchases.
- $700,000 – $999,999 purchase price range: 53% of the Transactions were Cash purchases. 209 total Properties were sold and 112 were Cash purchases.
- $500,000 – $699,999 purchase price range: 51% of the Transactions were Cash purchases. 307 total Properties were sold and 158 were Cash purchases.
- $300,000 – $499,999 purchase price range: 56% of the Transactions were Cash purchases. 1,135 total Properties were sold and 639 were Cash purchases.
- Purchase prices under $300,000: 56% of the Transactions were Cash purchases. 7,839 total Properties were sold and 4,461 were Cash purchases.
Cash Purchases of Broward County Single Family Homes
- $1,000,000 – $16,000,000 purchase price range: 46% of the Transactions were Cash purchases. 373 total Properties were sold and 174 were Cash purchases.
- $700,000 – $999,999 purchase price range: 29% of the Transactions were Cash purchases. 453 total Properties were sold and 135 were Cash purchases.
- $500,000 – $699,999 purchase price range: 19% of the Transactions were Cash purchases. 989 total Properties were sold and 190 were Cash purchases.
- $300,000 – $499,999 purchase price range: 12% of the Transactions were Cash purchases. 3,672 total Properties were sold and 469 were Cash purchases.
- Purchase prices under $300,000: 26% of the Transactions were Cash purchases. 2,877 total Properties were sold and 760 were Cash purchases.
