From January through June 2025, cash transactions dominated New York City's housing market, accounting for roughly 60% of all home sales. That means three out of every five properties were bought without financing. This high volume of liquid capital gives buyers significant leverage, helping them secure deals quickly and reliably; a priority for many sellers.
Of the 17,924 sales recorded citywide in the first half of 2025, 10,825 transactions were all-cash. While the raw number of cash purchases increased, their overall share of the market dropped from 80% to 60% compared to the previous half. This shift indicates a higher overall volume of sales, allowing financed deals a slightly larger presence in the market.
What's Driving the All-Cash Trend?
Market experts believe the cash trend is driven by wealthy buyers and equity-rich homeowners, not first-time buyers. NYC has a strong luxury segment where expensive properties often attract multiple cash offers. Sellers prefer these offers as they eliminate the risk and closing delays associated with securing a mortgage.
Where Cash Deals Are Most Prevalent
Cash transactions were dominant citywide. Queens recorded the highest total volume of closings at 4,132 deals. Meanwhile, the Bronx posted the highest rate of cash buys: roughly 17 cash deals for every one financed purchase, highlighting intense competition in these more affordable areas.
Cash Prowess in Manhattan’s High-End Market
Brooklyn followed with 3,250 cash transactions, and Manhattan recorded 2,256 deals at a much higher median price. In the luxury segment, the preference for cash is extreme: an astonishing 9 out of 10 Manhattan properties priced above $3 million were bought without financing.
What This Means for NYC
- All-cash offers account for 60% of all NYC sales, giving cash buyers immense leverage.
- The luxury market is overwhelmingly cash-driven; 90% of sales over $3M in Manhattan were all-cash.
- Buyers needing financing face an uphill battle against cash offers and elevated mortgage rates.
