Hugo Real Estate Market Report: February 2025
In February 2025, the median sale price in Hugo was $370,900, down 16.1% from a year earlier.
- Median Sales Price
- $370,900
- -16.1% vs. February 2024
- Homes for Sale
- 60
- -3.2% vs. February 2024
- Months Supply
- 1.9
- -17.4% vs. February 2024
- Seller's market
- Days on Market
- 53
- -3.6% vs. February 2024
- Closed Sales
- 31
- +10.7% vs. February 2024
- Percent of Original List Received
- 97.8%
- +0.8 pts vs. February 2024
What this means
The median sale price has decreased by 16% from last year to $370,900, 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 2 days more quickly than last year, averaging 53 days on market, and sellers are receiving 97.8% of their original asking price.
The area is currently a seller's market with 1.9 months of supply. Active inventory is down 3% from last year to 60 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 February 2025, with 1.9 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 60 homes for sale.
How fast are homes selling in Hugo?
Homes that sold in February 2025 spent an average of 53 days on market, 2 days faster than a year earlier. Sellers received 97.8% of their original list price on average.
Are home prices going up in Hugo?
No. The median sale price fell 16.1% year over year to $370,900. Price per square foot moved in the same direction (from $227 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 |
| December 2024 | $422,000 | 38 | 63 | 2 |
| January 2025 | $464,150 | 22 | 64 | 2 |
| February 2025 | $370,900 | 31 | 53 | 1.9 |
How Hugo compares with the Twin Cities region
In February 2025, the median sale price in Twin Cities (16-County Region) was $380,000.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published October 21, 2026.
Report published .
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