Is Cortland, NY 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, NY
How much do homes in Cortland, NY cost?
Median Sold Price
$171,750
$120/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cortland have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in Cortland was $171,750 in May 2024, up 2.7% from last year, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $34.2K | $35.9K | +5.0% |
| 2 Bedrooms | $132.5K | $149.9K | +13.2% |
| 3 Bedrooms | $169.4K | $184K | +8.6% |
| 4 Bedrooms | $182.4K | $178.7K | -2.0% |
| 5+ Bedrooms | $285K | $180.1K | -36.8% |
Summary: Cortland housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 8.6%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes decreased by 36.8%.
Median Sold Price Compared To Nearby Cities
| Cortland | $167.2K | $171.7K | +2.7% |
| Cortlandville | $210K | $192K | -8.6% |
Housing Supply in Cortland, NY
How many homes are available in Cortland, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 66 | 57 | -13.6% |
Summary: The Cortland real estate market had 57 homes for sale in May 2024, a 13.6% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 14 | 11 | -21.4% |
| 3 Bedrooms | 28 | 21 | -25.0% |
| 4 Bedrooms | 20 | 19 | -5.0% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
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 decreased by 21.4%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 13 | -13.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cortland, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Cortland in May 2024, down by 13.3% month-over-month. Of the 13 sold homes, 38% were sold under asking, 15% were sold at asking, and 46% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 37 Days | 22 Days | -40.4% |
Summary: Homes in Cortland had an average of 22 days on market in May 2024, down by 40.4% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
0 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, 13 homes were sold in Cortland; 92% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 8% 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. 
The data relating to real estate on this website comes in part from the Internet Data Exchange program of the Global MLS (GMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.