Prior Lake Housing Market
What Prior Lake homes sell for, how fast they sell and how many are for sale, from the MLS.
The numbers and charts in the market section update twice a day. The rest of this page was last checked in September 2026. Real estate numbers change quickly and different sources don’t always match, so use this as an overview and check the details on any home you’re serious about.
Market trends at a glance
These are closed home sales in Prior Lake from the MLS, updated twice a day. Prior Lake here means Prior Lake mailing addresses, which include parts of Credit River and Spring Lake Township.
Closed Prior Lake home sales from the MLS, via priorlake.realestate. Updated Oct. 15, 2026. Based on information from the Regional Multiple Listing Service of Minnesota, Inc. for the period April 15, 2025 through October 15, 2026: Prior Lake home sales and homes for sale. Data believed to be accurate but should be independently verified.
Median sale price by month
One month can swing with the mix of homes that happen to sell, so the six-month median above is the steadier number.
Median days on market by month
Half of the homes sold that month spent less time on the market than this, and half spent more.
Average sale-to-list ratio by month
Above 100% means homes sold for more than their list price on average that month.
Median price per square foot by month
Price per square foot evens out the mix of big and small homes that sell in any one month.
What you can buy at different price points
In the last 12 months the median Prior Lake home sold for $525K (461 sales). By type, the median single-family home sold for $620K, the median townhome for $366K and the median condo for $200K. Here’s what sold in each price range over those 12 months:
| Price range, last 12 months | What you’ll find | Example neighborhoods |
|---|---|---|
| Under $300K | Condos and some townhomes | Tower Place, Timber Crest Park |
| $300K to $450K | Most townhomes and entry-level single-family homes | Sand Pointe, Glynwater |
| $450K to $750K | Established single-family neighborhoods | Jeffers Pond, Knob Hill, Carriage Hills |
| $750K and up | Golf course, lakefront, acreage and new construction | The Wilds, Pike Lake Landing, The Territory |
The median lakefront home sold for $1.10M in the same 12 months (55 sales). Single-family homes under $350K were rare: 17 of 332 sold for less than that (5%). For what homes sell for in each neighborhood, see the neighborhoods guide.
Based on information from the Regional Multiple Listing Service of Minnesota, Inc. for the period January 1, 2020 through September 28, 2026: Prior Lake home sales and homes for sale, by type of home, new construction and lake frontage. Data believed to be accurate but should be independently verified.
The full Prior Lake market lives on priorlake.realestate, my housing site, updated twice a day from the MLS.
- The Prior Lake marketprices, inventory and trends
- What it costs to ownproperty taxes, HOA fees and more
- Lakefront priceshomes on the water only
- Every home for salewith price context on each one
Property taxes and cost of living
Property taxes on recent Prior Lake sales ran about 0.9% of the sale price a year. For single-family homes sold in the last three years, the median tax was $4,740 a year. For townhomes it was $3,208. For the same home value, Prior Lake’s 2026 tax rates come in below Savage’s and Shakopee’s, according to Scott County’s rate tables.
Your own bill depends on your home’s value, homestead status and every levy where you live. The 2027 levies and the Nov. 3 school referendum are on the property taxes page, and the referendum questions have their own referendum page. The costs page on priorlake.realestate breaks taxes down by type of home.
The median household income in Prior Lake is about $134,000 (Census Bureau American Community Survey, 2020 to 2024).
New construction
New homes in Prior Lake mostly start near $600K. In the last 12 months, 19 new homes sold for $580K and up, with a median of $930K.
In late September 2026, the newest neighborhoods with homes for sale were Aspen Ridge and Pike Lake Landing. Parkwood Estates and Springview Meadows were built out from 2022 to 2025.
Lake homes vs. the overall market
Lake properties behave differently
Shoreline shape, water exposure, lot slope, views, dock setup and the home’s condition all matter. Lake homes are hard to compare because every lot is different.
In the last 12 months, the median lakefront home in Prior Lake sold for $1.10M (55 sales), about twice the $525K median for all homes. Since 2020, the median lakefront sale was $1.05M, against $435K for homes with no lake. By lake, the median lakefront sale since 2020 was $1.25M on Lower Prior, $1.10M on Upper Prior and $867K on Spring Lake.
Lakefront here means the home’s lot touches the water. Homes with lake access through an association, or only a lake view, are not counted as lakefront.
- Pricing can move differently than the rest of the market, especially when only a few lake homes sell in a given stretch.
- Time on market varies widely with the home’s spot on the lake and its condition.
- Seasonality shows up differently. Some buyers want to see a lake home during open-water months.
More on the lake itself is on the lake page. If you want the lake without buying lakefront, the neighborhoods guide covers the lake associations.
Looking at lake homes? I track every Prior Lake lake sale on priorlake.realestate, updated twice a day from the MLS. Lakefront there means homes on the water, not lake views.
- The lakeshore listevery lakefront home for sale, by email
- What lakefront homes sell forlake by lake
- Lower Prior Lakesales and homes for sale
- Upper Prior Lakesales and homes for sale
Buyer assistance programs
Scott County CDA
The Scott County Community Development Agency’s community land trust sells homes to income-qualified first-time buyers below market price. The CDA also runs free homebuyer classes.
Seasonality matters
- Spring and early summer often bring more new listings and more buyer activity.
- Late summer can stay busy, but shifts depending on school schedules and inventory.
- Fall often cools gradually, with motivated buyers still active for the right homes.
- Winter is usually quieter, and the homes that list then can behave differently than peak-season listings.
Because of seasonality, month-to-month comparisons can be misleading. Year-over-year trends and rolling averages usually tell a clearer story.
How to use this page
- Use the charts to see direction and momentum, not to price a specific home.
- The median sale price is the middle sale: half sold for more, half for less. It swings when the mix of homes sold changes, which is why the figure above covers six months, not one.
- Days on market shows how quickly homes go from listed to under contract. The sale-to-list ratio shows negotiating room: it runs higher when buyers compete and lower when the pace slows.
- If you’re focused on one neighborhood or school area, look at that subset separately. Prior Lake isn’t one uniform market.
- If you’re considering a lake home, compare within the lake (and even within sections of the lake), not just to the citywide median.
Photo: Wilderness Trail, Prior Lake by Jayesh Naithani, CC BY-SA 3.0.
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