Almost a quarter of this year’s single-family homes and condos were purchased by cash buyers, with neighborhoods like the Sunset, Parkside and Pacific Heights seeing the most such sales.
The Sunset and Parkside have been going full speed this year as house buyers priced out of the more interior neighborhoods head west in search of their next home.
Noe and Eureka Valley single-family homes were also big cash magnets, where sales ranged from $2,000,000-$5,000,000. However, such buyers also scooped up houses for $1,000,000 or less in the city’s southeastern neighborhoods of Bayview, Excelsior, Visitacion Valley, and Silver Terrace.
The condo market saw the most cash sales in Mission Dolores, Hayes Valley, Lower Pacific Heights, NoPa, Marina, Van Ness/Civic Center, Mission Bay, SoMa/Yerba Buena and South Beach. Pacific Heights experienced the most cash sales, from $1,500,000 to $7,250,000.
Van Ness/Civic Center and SoMa picked up the condo cash buyers in the $1,000,000 and under range. But South Beach’s cash sales were split almost equally, with half the units in the $650,000-$1,000,000 range and the other half selling for $1,000,000-$2,800,000.