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 October 2021

Since last year, 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.

How much do homes in Cortland, IL cost?

Median Sold Price

$239,000

$134/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$39,076(+19.5%)

Key Takeaway

Homes in Cortland have sold for 19.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $165K-
N/A
2 $179.9K$152K
-15.5%
3 $198.9K$239.5K
+20.4%
4 $220.5K$242.7K
+10.1%
5+ $260K$292.9K
+12.7%

Median Sold Price Compared To Nearby Cities

Cortland
+19.5%
Cortland Township
+15.9%
DeKalb
+7.5%
Maple Park
-5.2%

How many homes are available in Cortland, IL?

Number of Homes For Sale

Sep 2022Oct 2022%
3524-31.4%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 11
0.0%
2 31
-66.7%
3 158
-46.7%
4 1513
-13.3%
5+ 11
0.0%

Number of Homes Sold

Sep 2022Oct 2022%
155-66.7%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cortland, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
31 Days47 Days+49.2%

Breakdown of Home Sale Times

2 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.

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

About Cortland, IL

Homes for sale in Cortland, IL have reached 24. The number of listings in Cortland, IL decreased by 31.4% between September 2022 and October 2022. Listings spent 47 days on the market in October 2022, and had a median list price of $239,000 during the same period. From September 2022 through October 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties increased by 0%, the cost of 2 bedrooms properties went down by 15.5%, the cost of 3 bedrooms properties went up by 20.4%, prices of 4 bedrooms properties increased by 10.1%, 5 bedrooms properties prices increased by 12.7%. Volume of homes for sale changed: volume of 1 bedroom homes stayed the same, volume of 2 bedrooms homes went down by 66.7%, 3 bedrooms homes became 46.7% less available, 4 bedrooms homes inventory decreased by 13.3%, the quantity of 5 bedrooms homes have not changed. In October 2022, from all listings sold in Cortland, IL there were more than 0 sold above asking price, over 4 sold below and more than 1 were sold right at the asked price.

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