Maybe. Maybe not. Here’s the numbers for cash sales. Nationally we’ve seen the highest percentage of all-cash sales in the last 3 years. Coming in at 25% of national sales in April of 2021, which isn’t too far off from the pre-pandemic numbers in 2019.
National numbers are great, but how do we stack up locally?
Albany hovers right around 10%, both before and during the pandemic, but in January 2020 (just before the pandemic hit) Albany saw a dip to 5.1%. In April 2020 (just after the pandemic hit) Albany’s all-cash existing-home sales increased to 18%.
Corvallis is comfortable right around 23% but saw a spike to 34% in April 2019 and a dip to 17% in April 2021.
National data: REALTORS® Confidence Index Survey of the National Association of REALTORS®
Local data: Willamette Valley Multiple Listing Service
Another way to look at the local numbers is annually. Albany doesn’t fluctuate drastically, staying right between 10%-15%. Corvallis, on the other hand, was low in 2019 at 8%, which is interesting because of the 34% in April of 2019 (shown on the graph above). In Corvallis during 2020 and 2021 we saw a rise from 2019’s 8% to low 20%s covering both years of the pandemic, thus far.
So, the question remains: Are cash offers king? Not necessarily. There are multiple ways to position your non-cash offer to compete. Closing date, repair negotiations, inclusions, sales price, and more. If you’re ready to become a homeowner, let’s get together and figure out how we can make that happen!
