Hugo Real Estate Market Report: August 2024
In August 2024, the median sale price in Hugo was $464,900.
- Median Sales Price
- $464,900
- No prior comparison
- Homes for Sale
- 94
- No prior comparison
- Months Supply
- 3.5
- No prior comparison
- Balanced market
- Days on Market
- 56
- No prior comparison
- Closed Sales
- 35
- No prior comparison
- Percent of Original List Received
- 98.6%
- No prior comparison
What this means
The median sale price is currently $464,900.
Homes are averaging 56 days on market, and sellers are receiving 98.6% of their original asking price.
The area is currently a balanced market with 3.5 months of supply. There are currently 94 homes for sale.
In a balanced market, neither side has a steep advantage, making careful pricing for sellers and steady negotiation for buyers the key to success.
Common questions about the Hugo market
Is Hugo a buyer's or seller's market?
Hugo was a balanced market in August 2024, with 3.5 months of supply. Under about 3 months generally favors sellers, 3 to 6 months is considered balanced, and over 6 months favors buyers. There were 94 homes for sale.
How fast are homes selling in Hugo?
Homes that sold in August 2024 spent an average of 56 days on market. Sellers received 98.6% of their original list price on average.
Market trends in Hugo
| Month | Median sale price | Closed sales | Days on market | Months supply |
|---|---|---|---|---|
| September 2023 | $443,000 | 27 | 55 | 2.7 |
| October 2023 | $377,500 | 27 | 58 | 2.7 |
| November 2023 | $377,300 | 17 | 51 | 2.6 |
| December 2023 | $367,900 | 19 | 63 | 2.1 |
| January 2024 | $389,089 | 16 | 56 | 2.4 |
| February 2024 | $442,250 | 28 | 55 | 2.3 |
| March 2024 | $429,000 | 26 | 47 | 2.4 |
| April 2024 | $395,000 | 35 | 50 | 2.4 |
| May 2024 | $412,500 | 30 | 64 | 2.6 |
| June 2024 | $368,900 | 29 | 53 | 3.1 |
| July 2024 | $406,500 | 30 | 21 | 3.3 |
| August 2024 | $464,900 | 35 | 56 | 3.5 |
How Hugo compares with the Twin Cities region
In August 2024, the median sale price in Twin Cities (16-County Region) was $389,000.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published October 21, 2026.
Report published .
Get the Hugo market report every month
We will email you the monthly numbers and what they mean for buyers and sellers.