Hugo Real Estate Market Report: November 2024
In November 2024, the median sale price in Hugo was $433,500, up 14.9% from a year earlier.
- Median Sales Price
- $433,500
- +14.9% vs. November 2023
- Homes for Sale
- 77
- +16.7% vs. November 2023
- Months Supply
- 2.6
- +0% vs. November 2023
- Seller's market
- Days on Market
- 49
- -3.9% vs. November 2023
- Closed Sales
- 40
- +135.3% vs. November 2023
- Percent of Original List Received
- 97.6%
- -1.6 pts vs. November 2023
What this means
The median sale price has increased by 15% from last year to $433,500, 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 2 days more quickly than last year, averaging 49 days on market, and sellers are receiving 97.6% of their original asking price.
The area is currently a seller's market with 2.6 months of supply. Active inventory is up 17% from last year to 77 homes for sale.
In this seller's market, buyers should be prepared to act quickly, while sellers can generally expect strong interest if priced correctly.
Common questions about the Hugo market
Is Hugo a buyer's or seller's market?
Hugo was a seller's market in November 2024, with 2.6 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 77 homes for sale.
How fast are homes selling in Hugo?
Homes that sold in November 2024 spent an average of 49 days on market, 2 days faster than a year earlier. Sellers received 97.6% of their original list price on average.
Are home prices going up in Hugo?
Yes. The median sale price rose 14.9% year over year to $433,500. Price per square foot moved in the same direction (from $201 to $204), 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 |
| October 2024 | $405,000 | 32 | 70 | 3.6 |
| November 2024 | $433,500 | 40 | 49 | 2.6 |
How Hugo compares with the Twin Cities region
In November 2024, the median sale price in Twin Cities (16-County Region) was $376,000.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published October 21, 2026.
Report published .
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