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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cortland Township is a buyer's market

Buyer's
Market

Difference Since December 2021

At the same time last year, Cortland Township was a Seller's Market.

Key Takeaway

Cortland Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in Cortland Township, IL cost?

Median Sold Price

$260,000

$142/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2021

+$35,000(+15.6%)

Key Takeaway

Homes in Cortland Township have sold for 15.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2021Dec 2022%
1 $168.2K-
N/A
2 $178.5K$153K
-14.3%
3 $225K$256.2K
+13.9%
4 $255K$278.3K
+9.2%
5+ $370K$410K
+10.8%

Median Sold Price Compared To Nearby Cities

Cortland Township
+15.6%
DeKalb
+9.8%

How many homes are available in Cortland Township, IL?

Number of Homes For Sale

Nov 2022Dec 2022%
5744-22.8%

Homes For Sale By Bedroom Count

# BEDSNov 2022Dec 2022%
1 11
0.0%
2 88
0.0%
3 2015
-25.0%
4 2519
-24.0%
5+ 31
-66.7%

Number of Homes Sold

Nov 2022Dec 2022%
204-80.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cortland Township, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Average Sale Time

Dec 2021Dec 2022%
69 Days22 Days-68.3%

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Cortland Township 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 Township, IL

Cortland Township, IL has 44 homes on the market. The number of listings in Cortland Township, IL decreased by 22.8% between November 2022 and December 2022. While the average time on the market in December 2022 was 22 days, the median list price was $260,000. Listing prices have changed in this real estate market between November 2022 and December 2022: 1 bedroom properties became 0% more expensive, 2 bedrooms properties became 14.3% more cheaper, prices of 3 bedrooms properties went up by 13.9%, the cost of 4 bedrooms properties went up by 9.2%, prices of 5 bedrooms properties went up by 10.8%. The following changes in the number of homes for sale were observed in this housing market: volume of 1 bedroom homes stayed the same, 2 bedrooms homes inventory did not change, number of 3 bedrooms homes decreased by 25%, 4 bedrooms homes became 24% less available, the quantity of 5 bedrooms homes went down by 66.7%. In December 2022 more than 1 listings in Cortland Township, IL were sold above the asking price. During the same period more than 2 listings were sold at asking price, while more than 1 were sold below.

Related Housing Market Reports