Hugo Real Estate Market Report: December 2024
In December 2024, the median sale price in Hugo was $422,000, up 14.7% from a year earlier.
- Median Sales Price
- $422,000
- +14.7% vs. December 2023
- Homes for Sale
- 63
- +16.7% vs. December 2023
- Months Supply
- 2
- -4.8% vs. December 2023
- Seller's market
- Days on Market
- 63
- +0% vs. December 2023
- Closed Sales
- 38
- +100% vs. December 2023
- Percent of Original List Received
- 97.3%
- -0.8 pts vs. December 2023
What this means
The median sale price has increased by 15% from last year to $422,000, 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 averaging 63 days on market, in line with last year, and sellers are receiving 97.3% of their original asking price.
The area is currently a seller's market with 2 months of supply. Active inventory is up 17% from last year to 63 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 December 2024, with 2 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 63 homes for sale.
How fast are homes selling in Hugo?
Homes that sold in December 2024 spent an average of 63 days on market, about the same as a year earlier. Sellers received 97.3% of their original list price on average.
Are home prices going up in Hugo?
Yes. The median sale price rose 14.7% year over year to $422,000. Price per square foot moved in the same direction (from $190 to $202), 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 |
| December 2024 | $422,000 | 38 | 63 | 2 |
How Hugo compares with the Twin Cities region
In December 2024, the median sale price in Twin Cities (16-County Region) was $370,000.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published October 21, 2026.
Report published .
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