Is Cortland, NY 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 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, NY
How much do homes in Cortland, NY cost?
Median Sold Price
$166,000
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cortland have sold for 1.6% less than they did a year ago.
Summary: The median home sold price in Cortland was $166,000 in March 2024, down 1.6% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $36.5K | $32K | -12.3% |
| 2 Bedrooms | $130K | $147.9K | +13.8% |
| 3 Bedrooms | $169.9K | $173K | +1.8% |
| 4 Bedrooms | $185K | $171.2K | -7.4% |
| 5+ Bedrooms | $285K | $180.1K | -36.8% |
Summary: Cortland housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.3%, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 1.8%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes decreased by 36.8%.
Median Sold Price Compared To Nearby Cities
| Cortland | $168.7K | $166K | -1.6% |
| Cortlandville | $210K | $184K | -12.4% |
Housing Supply in Cortland, NY
How many homes are available in Cortland, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 69 | 60 | -13.0% |
Summary: The Cortland real estate market had 60 homes for sale in March 2024, a 13.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 14 | 10 | -28.6% |
| 3 Bedrooms | 31 | 31 | 0.0% |
| 4 Bedrooms | 14 | 13 | -7.1% |
| 5+ Bedrooms | 8 | 4 | -50.0% |
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 28.6%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 11 | -38.9% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cortland, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Cortland in March 2024, down by 38.9% month-over-month. Of the 11 sold homes, 73% were sold under asking, 9% were sold at asking, and 18% were sold over asking.
Days on Market for Cortland, NY
How long does it take to sell a home in Cortland, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 38 Days | 32 Days | -15.2% |
Summary: Homes in Cortland had an average of 32 days on market in Mar 2024, down by 15.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Cortland are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 11 homes were sold in Cortland; 64% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 
IDX Disclaimer/Disclosure: The data on this website relating to real estate for sale comes in part from the IDX Program of the Multiple Listing Service of the Elmira-Corning Regional Association of REALTORS®, Inc.