• One in four district homes sales is an all cash deal.
  • The most active cash condo buyers in the district are institutional and corporate groups.
  • There was a notable spike in DC cash deals during November.

The volume of all cash home sales is on the rise in the District of Columbia, with competition and outside buyers driving the uptick.

According to data from RealtyTrac, last year 24.3 percent of all district home sales were cash deals, the highest percentage achieved in more than ten years.

“With a location like the district it’s going to attract not just regular buyers but buyers from the outside,” said Daren Blomquist, VP of RealtyTrac, adding these often wealthy buyers are not constrained by local market conditions and can utilize cash as a way to beat out competition.

All-cash deals have been more prevalent in the condo-townhouse market, accounting for 26 percent of all transactions last year.

The most active cash condo purchasers in the district are institutional and corporate buyers. BDC Skyhouse East LLC purchased 240 condos via all cash last year, according to RealtyTrac. Another LLC and Cartus Financial Corp. purchased 18 and 14 condos, respectively, with cash.

In the single-family market, cash deals accounted for 18 percent of all transactions last year.

Overall, Blomquist notes that a significant spike in the volume of cash deals within the district occurred last November, when they accounted for 41 percent of all monthly home transactions. He attributes the uptick to the implementation of the new TRID rules.

DC metro all cash sales declining

The Washington-Arlington-Alexandria metro saw cash deals account for a smaller percentage of all transactions last year, 20.3 percent, than the district.

The roughly 20 percent figure represented the lowest percentage of cash deals in the metro since 2008.

Both the district’s and DC metro’s cash deal percentages trailed the national average last year. RealtyTrac found that all cash buyers accounted for 30.1 percent of all U.S. homes sales, the lowest level since 2008.

Of the markets nationally with a population exceeding one million, cash deals were most prevalent last year in Miami (55.2 percent of all home sales), Tampa (48.5 percent), Orlando (44.5 percent), Memphis (44.2 percent) and Jacksonville (42.4 percent).

Email Erik Pisor

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Network with CoStar, Redfin, Realogy, SERHANT., Divvy, and thousands more in-person at ICLV this October. Prices go up Sunday.Register Now×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription