Summary
In the first half of 2025, over 60% of home sales in New York City were all-cash transactions, according to a report. Queens had the most cash purchases overall, while the Bronx had the highest ratio of cash buys compared to financed deals.
Key Facts
- More than 60% of home purchases in New York City from January to June 2025 were made with cash.
- There were 10,825 cash buys out of a total of 17,924 property sales during this period.
- Queens had the most cash transactions with 4,132 sales.
- The Bronx had the highest ratio of cash buys, with about 17 cash buys for every mortgage.
- In some Bronx neighborhoods, there were far more cash buys than financed purchases (e.g., 320 cash buys vs. 5 financed in one council district).
- Nearly 90% of properties over $3 million in Manhattan were bought with cash.
- Harlem and Washington Heights were the only neighborhoods in Manhattan where financed deals outnumbered cash buys.
- High interest rates may be causing more buyers to choose cash deals.
