My recent listing in Millbrae had a total of 5 offers of which 2 were all cash. A good listing agent will always look at the overall strength and terms of all offers and will not just automatically choose the all cash offer. Many times (price aside)
the all cash offer is not the best choice for sellers. In our case the cash offers ended up not getting the property.
There have been 4 sales of all cash, where list price was under 500k since 01/01/12. 2 were homes and 2 were condominiums, only two sold for under 500k, 1 home and 1 condo.. Feel free to contact me for any other questions or statistics.