Is Cortland, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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, OH
How much do homes in Cortland, OH cost?
Median Sold Price
$195,000
$111/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cortland have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in Cortland was $195,000 in May 2024, up 2.9% from last year, and the median price per square foot was $111.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $35K | - | N/A |
| 2 Bedrooms | $135.3K | $142.2K | +5.1% |
| 3 Bedrooms | $189.5K | $207.2K | +9.4% |
| 4 Bedrooms | $250K | $265K | +6.0% |
| 5+ Bedrooms | $160.9K | $321.2K | +99.6% |
Summary: Cortland housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 99.6%.
Median Sold Price Compared To Nearby Cities
| Mecca Township | $160K | $195K | +21.9% |
| Cortland | $189.5K | $195K | +2.9% |
| Bazetta Township | $162K | $155K | -4.3% |
Housing Supply in Cortland, OH
How many homes are available in Cortland, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 42 | 49 | +16.7% |
Summary: The Cortland real estate market had 49 homes for sale in May 2024, a 16.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 18 | +50.0% |
| 3 Bedrooms | 22 | 25 | +13.6% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Cortland housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 13.6%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 14 | +16.7% |
Asking Price vs. Sold Price
11 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. 78.6% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Cortland in May 2024, up by 16.7% month-over-month. Of the 14 sold homes, 79% were sold under asking, 7% were sold at asking, and 14% were sold over asking.
Days on Market for Cortland, OH
How long does it take to sell a home in Cortland, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 38 Days | 51 Days | +31.5% |
Summary: Homes in Cortland had an average of 51 days on market in May 2024, up by 31.5% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
6 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 May 2024, 14 homes were sold in Cortland; 50% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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