Montgomery Place's larger, war-era lots and steady demand mean listings here do not sit unnoticed, so when supply is tight a seller is choosing between offers that all look reasonable on price. Certainty of closing becomes the tiebreaker in that situation more than in a market flooded with alternatives.
A cash buyer strengthens the offer further by shortening the possession timeline and by having a lawyer confirm funds are already in place, which reads to a seller as one fewer thing that can go wrong between acceptance and moving day.
None of that guarantees a lower price is accepted, since a seller in a tight market still has leverage to hold firm on the number even while valuing the certainty a cash buyer brings. Get your hand-reviewed valuation from Joel Dyck.