If you want an indicator of how nervous buyers are to take out a mortgage right now, look no further than the massive year-over-year spike in cash sales Brevard saw in November.

According to the latest data from the Space Coast Association of Realtors, cash sales for single-family homes were up 45.3% from November 2022. Condominium and townhome numbers tell a similar story with a 33.7% increase in cash sales year over year.

Closed sales were also up 18.5% year over year with 795 units sold last month compared to 671 a year earlier. Month over month, closed sales were up 3.24% over October’s numbers. Condos and townhomes sale saw a smaller increase, but an increase nonetheless. Closed sales in that sector were up 6.2% last month with the number of units closed at 172 compared to 162 in November 2022. Month over month saw a 10.9% decrease from October’s 193 closed units.

Most Expensive Homes: Brevard’s most expensive homes sold in 2023 total more than $27.9 million

Another sure indicator of the reluctance to take out a high interest loan is the months’ supply of inventory on the market. As Realtors have explained it, it’s the number of months it would take to sell every home on the market if nothing new were listed. November saw a 25% jump to 3 months, an increase from 2.4 months in November 2022. Month over month however, the inventory has stayed fairly stagnant.

For condominiums and townhouses, there’s been an 87.5% spike in the inventory year over year to 4.5 months supply compared to 2.4 months in November 2022.

Other statistics for single family homes

• New pending sales are up 6.3%

• New listings are up 14.6%.

• The median sales price for Brevard single family homes is up 3.4% to $367,000 compared to a year ago, which was $355,000. But it also reflects a 1.94% increase over October’s sales price of $360,000.

• Traditional sales are up 18.4%.

• Foreclosure/REO sales are flat with 3 closed sales and a median sales price of $300,000.

• Short sale closings had one closed sale and a median sales price of $455,000.

Other statistics for condominiums and townhomes

• New pending sales are up 22.9%.

• New listings are up 42.9%.

• The median sales price dropped 1% to $287,000 compared to a year ago, which was $289,950 and a 4.3% drop month over month from October’s sales price of $300,000.

• Traditional sales are up 6.8%.

• There were no foreclosure/REO Sales or short sale closings in November.

Rob Landers is a veteran multimedia journalist for the USA Today Network of Florida. Contact Landers at 321-242-3627 or rlanders@gannett.com. Instagram: @ByRobLanders Youtube: @florida_today

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This article originally appeared on Florida Today: November housing statistics for Brevard County show cash sales up