All-cash condo sales: are they up or down?
[vimeo 92170948 w=500&h=281]
Is the number of all-cash deals for condos in San Francisco increasing or decreasing? As we chat about in the video above, the anecdotal evidence seems to indicate that the number of all-cash condo sales might be decreasing. But if you know us, you know we do our best to replace anecdotes with evidence whenever possible.
Below are two graphs based on data from the SFAR MLS. The first shows the percentage of sales reported since September of 2013 that were all-cash. For the past 7 months, it has hovered between 15 and 30% of sales, and there really is no noticeable trend up or down.
Below is a comparison of the total number of condo sales reported in the SFAR MLS and the number that were reported as being all-cash condo sales.
So, for the time being at least, it appears that the amount of cash in the condo market is pretty much unchanged.
The interesting thing is that the story for single family homes isn’t quite the same… stay tuned for a blog post about that over on our main San Francisco real estate blog.