Is Cortland, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Cortland has remained a Buyer's Market.
Housing Prices in Cortland, IL
How much do homes in Cortland, IL cost?
Median Sold Price
$262,000
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Cortland was $262,000 in March 2024, up 4.8% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $204.9K | N/A |
2 Bedrooms | $180K | $217.5K | +20.8% |
3 Bedrooms | $248.2K | $265K | +6.7% |
4 Bedrooms | $255.2K | $299.9K | +17.5% |
5+ Bedrooms | $284.9K | $266.8K | -6.3% |
Summary: Cortland housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 20.8%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 17.5%, and 5+ bedroom homes decreased by 6.3%.
Median Sold Price Compared To Nearby Cities
Maple Park | $272.5K | $388K | +42.4% |
DeKalb | $192.2K | $221K | +15.0% |
Cortland Township | $260.5K | $285.4K | +9.6% |
Cortland | $249.9K | $262K | +4.8% |
Housing Supply in Cortland, IL
How many homes are available in Cortland, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
27 | 32 | +18.5% |
Summary: The Cortland real estate market had 32 homes for sale in March 2024, a 18.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 1 | -50.0% |
3 Bedrooms | 13 | 15 | +15.4% |
4 Bedrooms | 12 | 16 | +33.3% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Cortland housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
5 | 3 | -40.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Cortland in March 2024, down by 40.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
9 Days | 31 Days | +233.3% |
Summary: Homes in Cortland had an average of 31 days on market in Mar 2024, up by 233.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 3 homes were sold in Cortland; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.