Despite drop, cash reigns in Sarasota

SARASOTA — Cash sales in the North Port-Sarasota-Bradenton region fell 7 percentage points in March from March 2015, but the region's cash sales share is still well above the national average.

For the month, cash sales in Sarasota-Manatee fell to 51.6%, according to data provider CoreLogic. The national average was 33%.

Sarasota-Manatee's cash sales share was led by real estate-owned sales at 57.2%, the study shows. Resales, short sales and newly constructed homes followed at 32.9%, 30.6% and 14.4%, respectively.

Of the largest 100 core based statistical areas in the country, North Port-Sarasota-Bradenton's cash sales share was the fourth highest. Philadelphia, at 55.7%, took the top spot. The West Palm Beach, Cape Coral and Miami regions are the other three in the top five.

Statewide, Florida has a cash sales share of 45.9%, the CoreLogic data shows. Only Alabama (49.8%) and New York (47.5%) have higher rates. Michigan and Indiana round out the top five.