With only 1.8 months of inventory, Cortland remains a seller's market. The median home price of $222,100 represents a moderate 9.7% increase from this time last year. At the current pace, all available homes in Cortland would sell out in just 1.8 months, indicating a continued supply shortage. Properties are selling within just 10 days on average, much faster than the historical norm of 35 days. A significant 27.3% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 50.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Cortland market with the affordability index at 141.8. Looking ahead, the Cortland market is expected to maintain its current trajectory with relatively stable conditions.