Hugo Real Estate Market Report: September 2024
In September 2024, the median sale price in Hugo was $415,900, down 6.1% from a year earlier.
- Median Sales Price
- $415,900
- -6.1% vs. September 2023
- Homes for Sale
- 90
- +28.6% vs. September 2023
- Months Supply
- 3.3
- +22.2% vs. September 2023
- Balanced market
- Days on Market
- 47
- -14.5% vs. September 2023
- Closed Sales
- 30
- +11.1% vs. September 2023
- Percent of Original List Received
- 97.3%
- -1.4 pts vs. September 2023
What this means
The median sale price has decreased by 6% from last year to $415,900, and a similar trend in price per square foot suggests this is a real move in values rather than a change in the mix of homes selling.
Homes are selling 8 days more quickly than last year, averaging 47 days on market, and sellers are receiving 97.3% of their original asking price.
The area is currently a balanced market with 3.3 months of supply. Active inventory is up 29% from last year to 90 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 September 2024, with 3.3 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 90 homes for sale.
How fast are homes selling in Hugo?
Homes that sold in September 2024 spent an average of 47 days on market, 8 days faster than a year earlier. Sellers received 97.3% of their original list price on average.
Are home prices going up in Hugo?
No. The median sale price fell 6.1% year over year to $415,900. Price per square foot moved in the same direction (from $214 to $203), which suggests a real change in values rather than a shift in the mix of homes sold.
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 |
| September 2024 | $415,900 | 30 | 47 | 3.3 |
How Hugo compares with the Twin Cities region
In September 2024, the median sale price in Twin Cities (16-County Region) was $379,999.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published October 21, 2026.
Report published .
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