Home Values

Cortland County Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$100,600

  • -0.4% 1-year change
  • None 1-year forecast

The median home value in Cortland County is $100,600. Cortland County home values have declined -0.4% over the past year. The median list price per square foot in Cortland County is $86, which is the same as the Cortland Metro average of $86. The median price of homes currently listed in Cortland County is $122,000 while the median price of homes that sold is $118,812. The median rent price in Cortland County is $2,850, which is the same as the Cortland Metro median of $2,850.

Foreclosures will be a factor impacting home values in the next several years. In Cortland County 1.6 homes are foreclosed (per 10,000). This is lower than the national value of 4.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Cortland County is 6.8%, which is higher than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Cortland County homeowners underwater on their mortgage is 9.1%.

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Relative ZHVI
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Cortland County Market Overview

Data through Jan 31, 2015
  • $100,600 ZHVI
  • No data 1-yr forecast
  • $122,000 Median listing price
  • $118,812 Median sale price (Dec 31, 2014)
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Cortland County Market Health

Data through Jan 31, 2015
  • 2.3/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
    (Dec 31, 2014)
  • No data Average days on Zillow
  • 9.1% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 6.8% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

1.6 homes Cortland County
4 homes United States
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Cities in Cortland County

Name Median ZHVI
Cortland West $178,100
Virgil $124,700
Town of Homer $119,300
Name Median ZHVI
Cortlandville $118,000
Munsons Corners $114,900
Town of Marathon $90,900
Name Median ZHVI
Cortland $85,000
 
 

Listings & Sales

Data through Jan 31, 2015
  • $86 Median list price / sq ft
  • $78 Median sale price / sq ft (Dec 31, 2014)
  • No data Listings with price cut
27.4%
Sold below listing
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Cortland County Rentals

Data through Jan 31, 2015
  • Zillow Rent Index

  • $1,473 Cortland County
    $1,473 Cortland Metro
    $1,350 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.2 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $2,850 Rent list price
  • No recent data Rent list price / sq ft
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