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

$83,200

  • -5.7% 1-year change
  • None 1-year forecast

The median home value in Cortland is $83,200. Cortland home values have declined -5.7% over the past year. The median list price per square foot in Cortland is $75, which is lower than the Cortland Metro average of $81. The median price of homes currently listed in Cortland is $99,900 while the median price of homes that sold is $100,000. The median rent price in Cortland is $625, which is lower than the Cortland Metro median of $2,850.

Foreclosures will be a factor impacting home values in the next several years. In Cortland 1.7 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 is 6.6%, which is lower than the national value of 6.9%. 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 9.0%.

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Relative ZHVI
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Cortland Market Overview

Data through Sep 30, 2014
  • $83,200 ZHVI
  • No data 1-yr forecast
  • $99,900 Median listing price
  • $100,000 Median sale price (Aug 31, 2014)
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Cortland Market Health

Data through Sep 30, 2014
  • 1.5/10 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
  • 9.0% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 6.6% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

1.7 homes(Aug 31, 2014) Cortland
4 homes United States
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Nearby Cities

Name Median ZHVI
Cortland West $175,800
Town of Dryden $173,000
Town of Groton $123,800
Name Median ZHVI
Town of Homer $117,400
Virgil $116,800
Cortlandville $115,000
Name Median ZHVI
Munsons Corners $111,300
 
 

Listings & Sales

Data through Sep 30, 2014
  • $75 Median list price / sq ft
  • $62 Median sale price / sq ft (Aug 31, 2014)
  • 50.8% Listings with price cut
13.5%
Sold below listing
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Cortland Rentals

Data through Sep 30, 2014
  • Zillow Rent Index

  • $1,397 Cortland
    $1,465 Cortland Metro
    $1,335 United States

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

  • 1.0 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 recent data Rent list price / sq ft
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