Published October 7, 2026 in Market Update

In Irvine, More Than Half of All Buyers Paid Cash

By Jason & Susan Zwolak

Real estate, Market Update Cleaned Combined 2

I pulled every sale in Irvine over the past 13 months, through October 7, 2026, and one thing stood out right away. Of the 2,247 sales where I could see how the buyer paid, 1,262 of them paid cash. That is more than half. I wanted to put cash buyers and loan buyers side by side, on the things that actually matter to a seller or a buyer sitting across the table from one of them.

Cash buyers are faster, but loan buyers held their own on price

The typical cash sale closed in 26 days. The typical loan sale took 30 days. That four-day gap does not sound like much, but for a seller who has already bought somewhere else, or who is trying to time a move, it matters.

Loan buyers actually paid a higher share of what the home first asked. They paid 96.7% of the original price. Cash buyers paid 96.3%. That half-point difference means loan buyers gave up less ground in negotiations. Both groups landed at 100% of the last asking price, which tells you the typical seller who dropped their price still got every dollar of that lower number.

The middle sold price for cash buyers was $1,530,000. For loan buyers it was $1,400,000. That $130,000 gap is not because cash buyers overpaid. It is because cash buyers tended to buy pricier homes. The data does not say why, and I will not guess. But the price difference is real.

Neither group wins everything, and that is the honest truth

If you are a seller, you might think cash is always better. It is faster, yes. But loan buyers got 96.7% of what the home first asked, compared to 96.3% for cash buyers. That is a small gap, but it runs the wrong direction from what most people expect. A loan buyer who loves your home may actually push harder on price.

Nationally, 27% of existing-home transactions in August 2026 were all-cash sales, up from 26% in July, according to the National Association of Realtors. This market runs at 56.2% cash. That is more than double the national share. This is not a normal market for loan buyers. They are competing against a pool where most of the other buyers do not need a lender at all.

That pressure shows up in the numbers. Loan buyers still closed at 100% of the last asking price, same as cash buyers. They did not get pushed out. But they did take four more days to get there. For a buyer using a loan right now, that matters. The 30-year fixed rate averaged 7.28% as of October 1, 2026, up from 7.03% the prior week, according to Freddie Mac. Every extra day in escrow costs money at that rate.

What this means if you are selling or buying right now

If you are selling, do not automatically hold out for a cash offer. Loan buyers in this market closed at 100% of the last asking price, same as cash buyers. The real question is whether four extra days matters to you. If your next move is already lined up, a cash offer is worth something. If you have time, a strong loan buyer is just as good on price and may actually push a little harder to get there.

If you are buying with a loan, you are not out of the game, but you are in the minority here. 46.6% of the 706 homes for sale right now have already dropped their price, with a typical cut of $85,000. That means there are motivated sellers out there. A loan buyer who has financing fully approved and is ready to close without delays can still win. The 30-year fixed rate is at 7.28% as of October 1, 2026 (Freddie Mac), so getting your financing fully ready before you make an offer is the single best thing you can do to close the gap with a cash buyer.