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, wit...
- 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.