$5,963 Closing Credit*
$502,110
1,719 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Lennar Sales Corp
Is Hugo, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Hugo has remained a Seller's Market.
Key Takeaway
Hugo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hugo, MN
How much do homes in Hugo, MN cost?
Median Sold Price
$427,214
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$2,214(+0.5%)
Key Takeaway
Homes in Hugo have sold for 0.5% more than they did a year ago.
Summary: The median home sold price in Hugo was $427,214 in November 2024, up 0.5% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $284K | $275.2K | -3.1% |
| 3 Bedrooms | $375K | $378.4K | +0.9% |
| 4 Bedrooms | $521.2K | $517.5K | -0.7% |
| 5+ Bedrooms | $654.9K | $578.7K | -11.6% |
Summary: Hugo housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.1%, 3 bedroom homes increased by 0.9%, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes decreased by 11.6%.
Median Sold Price Compared To Nearby Cities
| Forest Lake | $380K | $390K | +2.6% |
| Forest Lake | $389.8K | $395K | +1.3% |
| Hugo | $425K | $427.2K | 0.5% |
| Grant | $690.8K | $661.7K | -4.2% |
Housing Supply in Hugo, MN
How many homes are available in Hugo, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 204 | 204 | 0.0% |
Summary: The Hugo real estate market had 204 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 50 | 46 | -8.0% |
| 3 Bedrooms | 66 | 70 | +6.1% |
| 4 Bedrooms | 54 | 55 | +1.9% |
| 5+ Bedrooms | 34 | 33 | -2.9% |
Summary: The Hugo housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 8%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 2.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 44 | 45 | +2.3% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hugo, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 45 homes were sold or pending in Hugo in November 2024, up by 2.3% month-over-month. Of the 45 sold homes, 44% were sold under asking, 29% were sold at asking, and 27% were sold over asking.
Days on Market for Hugo, MN
How long does it take to sell a home in Hugo, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 38 Days | 33 Days | -13.2% |
Summary: Homes in Hugo had an average of 33 days on market in Nov 2024, down by 13.2% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hugo are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 45 homes were sold in Hugo; 51% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
