Is Cortland, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Cortland has remained a Seller's Market.
Housing Prices in Cortland, IL
How much do homes in Cortland, IL cost?
Median Sold Price
$265,000
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Cortland was $265,000 in April 2024, up 6% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $204.9K | - | N/A |
2 Bedrooms | $186K | $217.5K | +16.9% |
3 Bedrooms | $249.4K | $265K | +6.2% |
4 Bedrooms | $255.5K | $299.9K | +17.4% |
5+ Bedrooms | $284.9K | $266.8K | -6.3% |
Summary: Cortland housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.9%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes decreased by 6.3%.
Median Sold Price Compared To Nearby Cities
Maple Park | $268K | $399.9K | +49.2% |
DeKalb | $190.1K | $225K | +18.3% |
Cortland Township | $261K | $285.9K | +9.5% |
Cortland | $249.9K | $265K | +6.0% |
Housing Supply in Cortland, IL
How many homes are available in Cortland, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
31 | 42 | +35.5% |
Summary: The Cortland real estate market had 42 homes for sale in April 2024, a 35.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 15 | 23 | +53.3% |
4 Bedrooms | 15 | 17 | +13.3% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Cortland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 53.3%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3 | 12 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Cortland in April 2024, up by 300.0% month-over-month. Of the 12 sold homes, 17% were sold under asking, 42% were sold at asking, and 42% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
28 Days | 19 Days | -31.6% |
Summary: Homes in Cortland had an average of 19 days on market in Apr 2024, down by 31.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 12 homes were sold in Cortland; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.