State of the Market in Hugo

As we look back at the almost year end statistics for Hugo, we see some very good indicators. 

Average and median sales prices are rising and 63 days on the market to sell is a very healthy number.   The amazing indicator is the month's supply of inventory number of 2.0 months for November.   A balanced market is considered to be 4-6 months of inventory, so right now it is a seller’s market which leads to rising prices and lower market times.  Hugo has weathered most of the building spurt of new construction and as the last of the current new builds get absorbed, prices across all price points should begin to rise, not just the lower end.  Good neighborhoods, a growing, healthy housing supply, good schools, should be a healthy housing market for the future.  Here’s to a good spring market!