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

$85,000

  • -4.0% 1-year change
  • None 1-year forecast

The median home value in Cortland is $85,000. Cortland home values have declined -4.0% over the past year. The median list price per square foot in Cortland is $77, which is lower than the Cortland Metro average of $87. The median price of homes currently listed in Cortland is $99,999 while the median price of homes that sold is $90,353. The median rent price in Cortland is $625, which is lower than the Cortland Metro median of $2,900.

Foreclosures will be a factor impacting home values in the next several years. In Cortland 2.7 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 7.3%, 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 9.3%.

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Relative ZHVI
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Cortland Market Overview

Data through Dec 31, 2014
  • $85,000 ZHVI
  • No data 1-yr forecast
  • $99,999 Median listing price
  • No recent data Median sale price
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Cortland Market Health

Data through Dec 31, 2014
  • 2.0/10 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
  • 9.3% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 7.3% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

2.7 homes(Nov 30, 2014) Cortland
4 homes United States
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Nearby Cities

Name Median ZHVI
Cortland West $179,400
Town of Dryden $173,200
Town of Groton $123,100
Name Median ZHVI
Virgil $121,800
Town of Homer $118,500
Cortlandville $117,600
Name Median ZHVI
Munsons Corners $112,600
 
 

Listings & Sales

Data through Dec 31, 2014
  • $77 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 19.5% Listings with price cut
13.4%
Sold below listing
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Cortland Rentals

Data through Dec 31, 2014
  • Zillow Rent Index

  • $1,380 Cortland
    $1,472 Cortland 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

  • 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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