Home Values

Cortland 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

$140,100

  • 6.5% 1-year change
  • 1.1% 1-year forecast

The median home value in Cortland is $140,100. Cortland home values have gone up 6.5% over the past year and Zillow predicts they will rise 1.1% within the next year. The median price of homes currently listed in Cortland is $139,900 while the median price of homes that sold is $170,000. The median rent price in Cortland is $1,200, which is lower than the Chicago Metro median of $1,450.

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 is 9.3%, 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 homeowners underwater on their mortgage is 46.7%, which is higher than Chicago Metro at 25.3%.

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Relative ZHVI
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Cortland Market Overview

Data through Dec 31, 2014
  • $140,100 ZHVI
  • 1.1% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Dec 31, 2015)
  • $139,900 Median listing price
  • No recent data Median sale price
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Cortland Market Health

Data through Dec 31, 2014
  • 0.7/10 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.
  • No data Average days on Zillow
  • 46.7% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 9.3% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)
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Nearby Cities

Name Median ZHVI
Elburn $231,000
Big Rock $220,100
Kingston $173,200
Name Median ZHVI
Hinckley $172,300
Maple Park $172,000
Sycamore $158,900
Name Median ZHVI
Waterman $140,400
Dekalb $135,000
 

Listings & Sales

Data through Dec 31, 2014
  • No recent data Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 35.2% Listings with price cut
46.2%
Sold below listing
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Cortland Rentals

Data through Dec 31, 2014
  • Zillow Rent Index

  • $1,397 Cortland
    $1,623 Chicago Metro
    $1,345 United States

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

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