The present housing market in Cortland is down with high active listings and low sales volume. Home prices have decreased 3.3% in the past month. At the current sales pace, it would take over 10.0 months to sell all available homes in Cortland, indicating an oversupplied market. Sales volume is down 71% compared to seasonal expectations. Only 5.0% of listings saw price reductions, suggesting sellers are confident in their pricing. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Cortland market with the affordability index at 320.1. Based on current market indicators, home prices in Cortland are projected to increase by approximately 5.9% over the next month.