Is Cortland, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cortland is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Cortland has remained a Seller's Market.

Key Takeaway

Cortland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Cortland, IL

How much do homes in Cortland, IL cost?

Median Sold Price

$234,900

$159/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

-$30,050(-11.3%)

Key Takeaway

Homes in Cortland have sold for 11.3% less than they did a month ago.

Summary: The median home sold price in Cortland was $234,900 in November 2024, down 11.3% from last month, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 $235K$234.9K
0%
3 $264.9K$220K
-17.0%
4 $330K$250K
-24.2%
5+ --
N/A

Summary: Cortland housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 17%, 4 bedroom homes decreased by 24.2%, and 5+ bedroom homes did not change.

Housing Supply in Cortland, IL

How many homes are available in Cortland, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
3531-11.4%

Summary: The Cortland real estate market had 31 homes for sale in November 2024, a 11.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 76
-14.3%
3 1917
-10.5%
4 98
-11.1%
5+ 00
0.0%

Summary: The Cortland housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 10.5%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
610+66.7%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cortland, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.

Summary: A total of 10 homes were sold or pending in Cortland in November 2024, up by 66.7% month-over-month. Of the 10 sold homes, 20% were sold under asking, 60% were sold at asking, and 20% were sold over asking.

Days on Market for Cortland, IL

How long does it take to sell a home in Cortland, IL?

Average Sale Time

Oct 2024Nov 2024CHANGE
37 Days26 Days-30.0%

Summary: Homes in Cortland had an average of 26 days on market in Nov 2024, down by 30% compared to last month.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Cortland are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 10 homes were sold in Cortland; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

Newest Listings in Cortland, IL

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