Cash buyers are continuing to rule Florida’s real estate market. The Sunshine State dominates national rankings for all-cash home purchases, claiming six of the top 10 cities in the country, including three in Southwest Florida. While no cities in Manatee and Sarasota counties are on that list, cities in both markets still outpace national averages by a wide margin.
Just south of our region, three cities rank among the top 10 nationally:
- Punta Gorda ranks third, with nearly 60% of homes purchased with cash.
- Naples-Marco Island comes in sixth, where 56% of buyers paid in full.
- Cape Coral-Fort Myers rounds out the top 10, with just over half of all purchases made with cash.
For context, only 28% of buyers nationwide purchased homes with cash, according to the National Association of Realtors. That’s a sharp increase from pre-pandemic levels, when just 22% of buyers paid all cash, highlighting a significant shift in purchasing behavior.
Florida’s appeal to cash buyers stems from several factors:
- A large retiree population with equity from previous homes.
- High demand for second homes and investment properties.
- Favorable climate and lifestyle that attract out-of-state buyers.