I was asked an interesting question recently. What is the percentage of cash buyers in Palo Alto? It may not be what you think.
Homes under 1 million in the last year: 67 total Sold with all cash: 9
Homes from 1-2 million: 255 Sold with all cash: 31
Homes from 2-3 million: 64 Sold with all cash: 20
Homes over 3 million: 21 Sold with all cash: 14
So despite what you hear about cash being king and so many buyers being beat out by all cash investors, in Palo Alto, a very high number of buyers are still purchasing homes with loans.
If you have any questions about buying or selling a home in Palo Alto please feel free to contact me.
Kelle Williams Realty