Hugo Real Estate Market Report: October 2024
In October 2024, the median sale price in Hugo was $405,000, up 7.3% from a year earlier.
- Median Sales Price
- $405,000
- +7.3% vs. October 2023
- Homes for Sale
- 102
- +47.8% vs. October 2023
- Months Supply
- 3.6
- +33.3% vs. October 2023
- Balanced market
- Days on Market
- 70
- +20.7% vs. October 2023
- Closed Sales
- 32
- +18.5% vs. October 2023
- Percent of Original List Received
- 98.1%
- -1.2 pts vs. October 2023
What this means
The median sale price has increased by 7% from last year to $405,000, though an opposite trend in price per square foot suggests this change more likely reflects the mix of homes that sold.
Homes are selling 12 days longer than last year, averaging 70 days on market, and sellers are receiving 98.1% of their original asking price.
The area is currently a balanced market with 3.6 months of supply. Active inventory is up 48% from last year to 102 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 October 2024, with 3.6 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 102 homes for sale.
How fast are homes selling in Hugo?
Homes that sold in October 2024 spent an average of 70 days on market, 12 days slower than a year earlier. Sellers received 98.1% of their original list price on average.
Are home prices going up in Hugo?
Yes. The median sale price rose 7.3% year over year to $405,000. Price per square foot moved the other way (from $233 to $194), which suggests the change mostly reflects 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 |
| October 2024 | $405,000 | 32 | 70 | 3.6 |
How Hugo compares with the Twin Cities region
In October 2024, the median sale price in Twin Cities (16-County Region) was $381,950.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published October 21, 2026.
Report published .
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