Our research team analyzed the average cash offer on a house in all 50 states across the US. This report summarizes state-by-state cash buyer activity using two main metrics to break down the table:
- % of Sales that were Cash: Represents the share of total home sales in which the buyer paid entirely in cash.
- Year-over-Year Change: Measures the difference in the cash sales percentage compared to the same period one year earlier.
From the findings we are seeing disparities across the percentage of home sales completed with cash offers across all 50 states, revealing significant regional variations in cash buyer activity.
Cash Offer Percentages by State and Year-over-Year Change:
| State | % of Sales That Were Cash | Year-over-Year Change | |
|---|---|---|---|
| Mississippi | 49.6% | -0.8% | |
| New Mexico | 48.8% | +4.0% | |
| Montana | 46.0% | -0.7% | |
| Idaho | 45.0% | -1.8% | |
| Hawaii | 44.9% | -4.0% | |
| Maine | 44.4% | -2.5% | |
| Missouri | 43.3% | -1.7% | |
| Wyoming | 41.4% | -3.5% | |
| Indiana | 41.1% | -1.3% | |
| New York | 40.9% | +2.0% | |
| Texas | 39.6% | +2.8% | |
| Alabama | 38.7% | -0.7% | |
| Florida | 38.7% | -0.5% | |
| North Dakota | 37.7% | -3.6% | |
| Kansas | 36.7% | -2.3% | |
| Utah | 35.6% | -0.7% | |
| Tennessee | 34.4% | -1.7% | |
| Alaska | 34.2% | -2.9% | |
| South Carolina | 33.1% | -2.8% | |
| North Carolina | 32.9% | -1.9% | |
| Arizona | 32.9% | -0.8% | |
| Louisiana | 32.7% | +0.5% | |
| West Virginia | 32.2% | +5.3% | |
| Michigan | 31.9% | +0.3% | |
| Oklahoma | 31.8% | -2.0% | |
| Georgia | 31.0% | -0.3% | |
| Nebraska | 30.8% | -0.4% | |
| Iowa | 30.4% | -0.7% | |
| Kentucky | 29.8% | -2.3% | |
| Ohio | 29.6% | -1.0% | |
| Deleware | 29.4% | -1.8% | |
| Connecticut | 29.3% | -2.0% | |
| Nevada | 29.3% | -1.1% | |
| New Hampshire | 29.0% | -3.7% | |
| Arkansas | 28.7% | +1.4% | |
| Pennsylvania | 28.4% | -1.5% | |
| Virginia | 28.0% | 0.0% | |
| New Jersey | 27.6% | -2.2% | |
| Massachusetts | 26.4% | -1.1% | |
| Illinois | 26.3% | -0.6% | |
| Minnesota | 25.5% | -0.5% | |
| Wisconsin | 25.2% | -2.2% | |
| Oregon | 25.0% | -1.3% | |
| California | 24.6% | -0.5% | |
| Colorado | 24.0% | -1.4% | |
| Maryland | 24.0% | -2.4% | |
| Rhode Island | 23.6% | -1.5% | |
| Washington DC | 23.4% | -0.5% | |
| Washington | 21.1% | -3.1% |
The data reveals that the national cash offer average on homes is between 28% to 32% of all home sales.
There are three distinct patterns in cash offer activity:
- Lower-cost markets in the Southeast and Midwest show higher cash purchase percentages (35-50%) due to investors targeting rental properties and first-time cash buyers seek affordability.
- High-cost coastal markets demonstrate moderate cash rates (21-26%) due to wealthy buyer competition and limited inventory.
- Vacation and retirement destination states like Montana, Idaho, and Maine show elevated cash activity (44-46%) from second-home purchases and relocating retirees.
Cash Sales Percentage and Discount by Price Range
| Price Range | % of Sales That Were Cash |
|---|---|
| Under $100k | 66.7% of all sales |
| $100k–$200k | 45.2% of all sales |
| $200k–$350k | 28.5% of all sales |
| $350k–$500k | 25.1% of all sales |
| $500k–$750k | 27.8% of all sales |
| $750k–$1M | 32.4% of all sales |
| Over $1M | 42.1% of all sales |
| Over $2M | 51.8% of all sales |
The table shows how the share of cash home sales changes across different price ranges. Cash sales are most common for homes under $100,000, where buyers often pay in full without financing.
The middle price ranges see the lowest cash share, reflecting higher mortgage use by typical owner-occupants. At the high end, the share of cash sales increases again, showing that wealthier buyers and investors often use cash to close faster and strengthen their offers.
Cash Percentage & Price Adjustment by Home Type
Property condition significantly impacts both cash buyer interest and price adjustments compared to financed offers.
| Home Type | % of This Home Type Sold for Cash | Price Adjustment vs. Market | Description |
|---|---|---|---|
| Foreclosure | 72.4% of foreclosure sales | -15.2% | Bank-owned distressed properties |
| Fixer-Upper | 58.3% of fixer-upper sales | -7.3% | Properties needing significant work |
| Luxury | 45.8% of luxury home sales | +2.1% | High-end properties over $1M |
| Move-in Ready | 28.7% of move-in ready sales | +1.2% | Updated homes requiring minimal work |
| Remodeled | 31.5% of remodeled home sales | +3.7% | Recently renovated properties |
Foreclosures, fixer-uppers, and remodeled homes each show distinct patterns in how cash buyers behave and how pricing is affected.
Foreclosures attract the highest share of cash buyers, with 72.4% of bank-owned properties selling for cash at an average of 15.2% below market value, largely due to their condition and financing limitations.
Fixer-uppers also appeal strongly to investors, with 58.3% purchased with cash and a 7.3% average discount compared to move-in ready homes.
In contrast, remodeled homes often sell at a premium, commanding prices 3.7% above expected values, with 31.5% bought by cash buyers looking for immediate occupancy and minimal renovation needs.
Key Findings from the Data:
The data from this report paints a clear picture of how cash buyer activity shapes the housing market in late 2025. Southern and Midwestern states lead with the highest cash sales percentages, reflecting affordability-driven investor demand. At the same time, expensive coastal markets show lower cash shares but remain competitive due to wealthier buyers. Price range data reveals strong cash activity at both the low and high ends of the market. Property condition analysis shows foreclosures and fixer-uppers trading at steep discounts and remodeled homes selling at premiums. These trends highlight how affordability, market type, and property condition drive where and how cash buyers compete.
If you’d like to request a PDF copy of this report, you can reach out here.
