Cash Buyers in South Florida’s Real Estate Market in 2021
Buyers who pay Cash for their Property purchases in South Florida instead of Financing their Property purchases with a Mortgage continue to represent a very large quantity of South Florida’s Real Estate buyers. The percentage of cash buyers in South Florida far exceeds 2021’s U.S. national average of 30% cash buyers. Included below are recent Article links and current cash buyer stats by price range in Palm Beach County, Broward County, and Miami-Dade County.
- CNBC: “Buying a House? Here’s where all cash sales are most competitive”
- Bloomberg: “Home buyers paying cash are dominating the property market in these Cities”
- “Florida is Home to 7 out of 10 top all cash Metros”
- Housing Wire: “Cash buyers are scooping up Homes like mad”
Which segment of the market has the largest number of Cash buyers? The largest numbers of Cash Buyers are in the luxury and ultra luxury Market for all Residential property types and in all price ranges of the Condo Market.
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.
Strong offers are winning, it’s a Seller’s market, and inventory is low in most segments of the market. Many properties are receiving multiple Offers and many are selling for purchase prices that are higher than their list prices. Property values in many segments of the market have increased by 30% or more within the last Year.
Below are details about Cash property sales for residential properties sold in Broward County, Palm Beach County, and Miami-Dade County during the first 6 months of 2021.
Cash purchases of Palm Beach County Single Family Homes
- $1,000,000+ purchase price range: 74% Cash buyers
- $500,000 – $999,000 purchase price range: 44% Cash buyers
- Under $500,000 purchase price range: 43% Cash buyers
Cash Purchases of Palm Beach County Condos and Townhomes
- $1,000,000+ purchase price range: 84% cash buyers
- $500,000 – $999,000 purchase price range: 53% cash buyers
- Under $500,000 purchase price range: 52% cash buyers
Cash purchases of Broward County Single Family Homes
- $1,000,000+ purchase price range: 50% Cash buyers
- $500,000 – $999,000 purchase price range: 23% Cash buyers
- Under $500,000 purchase price range: 19% Cash buyers
Cash Purchases of Broward County Condos and Townhomes
- $1,000,000+ purchase price range: 84% Cash buyers
- $500,000 – $999,000 purchase price range: 53% Cash buyers
- Under $500,000 purchase price range: 76% Cash buyers
Cash purchases of Miami-Dade County Single Family Homes
- $1,000,000+ purchase price range: 51% cash buyers
- $500,000 – $999,000 purchase price range: 21% cash buyers
- Under $500,000 purchase price range: 18% cash buyers
Cash Purchases of Miami-Dade County Condos and Townhomes
- $1,000,000+ purchase price range: 82% cash buyers
- $500,000 – $999,000 purchase price range: 58% cash buyers
- Under $500,000 purchase price range: 52% cash buyers
Related information:
- Wall Street Journal: “Buyers are pouring Billions of Dollars into Palm Beach Real Estate“
- Wall Street Journal: “As Wall Street migrates to Florida, Hedge Funders move to offload Manhattan Homes”
- Forbes: “Big Tech, low Taxes, plenty of Sunshine: Seizing opportunity in Florida’s growing Real Estate Market“
- Forbes: “South Florida’s Real Estate Market is now officially in super-boom mode“
- Business Insider: “900 people a day are moving to Florida”
- Local 10: “San Francisco Residents & Tech Companies are relocating to Florida at an unprecedented rate”
- Business Insider: “Palm Beach faces mansion shortage as prices hit new record”
- Wall Street Journal: “At least 22 Palm Beach Homes each sold for $40 Million+ since Covid“
- Miami Herald: “Miami-Dade’s $10 Million housing market is on fire as sales skyrocket“
- Crunchbase: “Why Miami is the next hot Tech hub“