Cash Sales Fall to Six Year Low; Distressed Sales Plummet | Mt Kisco Real Estate


Only one out of four single family home and condo sales in May–24.6 percent–were all-cash purchases, down from 30.4 percent a year ago to the lowest level since November 2009. Distress sales also fell to a new low of 10.5 percent of all sales in May, down from 18.3 percent a year ago to the lowest level since January 2011, according to RealtyTrac.

The cash sales share in May was close to its long-term average going back to January 2000 of 24.8 percent and well below its recent peak of 42.2 percent in February 2011. The top five metro areas with a population of at least 200,000 with the highest share of cash buyers were all in Florida: Naples-Marco Island (56.0 percent), Sarasota-Bradenton, (54.0 percent), Miami (53.4 percent), Ocala (49.9 percent), and Cape Coral-Fort Myers (49.7 percent).

RT Cash sales

Meanwhile, the median sales price of a distressed residential property was 43 percent below the median sales price of a non-distressed residential property in May, the biggest distressed discount since January 2006 when RealtyTrac first began tracking this metric.

 

Cash Sales Fall to Six Year Low; Distressed Sales Plummet | Mt Kisco Real Estate | Bedford New York Real Estate | Bedford NY Homes by Robert Paul Realtor.

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About robertpaulrealtor 914-325-5758

Realtor in Bedford NY specializing in marketing and selling luxury homes and finding the perfect homes for new buyers. Working in Armonk, Katonah, Pound Ridge, Lewisboro, Chappaqua and North Salem. 914-325-5758 robert.paul@elliman.com
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