Hugo Real Estate Market Report: January 2025
In January 2025, the median sale price in Hugo was $464,150, up 19.3% from a year earlier.
- Median Sales Price
- $464,150
- +19.3% vs. January 2024
- Homes for Sale
- 65
- +3.2% vs. January 2024
- Months Supply
- 2
- -16.7% vs. January 2024
- Seller's market
- Days on Market
- 64
- +14.3% vs. January 2024
- Closed Sales
- 22
- +37.5% vs. January 2024
- Percent of Original List Received
- 97.4%
- -0.7 pts vs. January 2024
What this means
The median sale price has increased by 19% from last year to $464,150, though an opposite trend in price per square foot suggests this change more likely reflects the mix of homes that sold.
Homes are selling 8 days longer than last year, averaging 64 days on market, and sellers are receiving 97.4% of their original asking price.
The area is currently a seller's market with 2 months of supply. Active inventory is up 3% from last year to 65 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 January 2025, 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 65 homes for sale.
How fast are homes selling in Hugo?
Homes that sold in January 2025 spent an average of 64 days on market, 8 days slower than a year earlier. Sellers received 97.4% of their original list price on average.
Are home prices going up in Hugo?
Yes. The median sale price rose 19.3% year over year to $464,150. Price per square foot moved the other way (from $218 to $212), 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 |
| November 2024 | $433,500 | 40 | 49 | 2.6 |
| December 2024 | $422,000 | 38 | 63 | 2 |
| January 2025 | $464,150 | 22 | 64 | 2 |
How Hugo compares with the Twin Cities region
In January 2025, 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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