Prior Lake, MN Housing Market & Real Estate
Housing market overview · Updated weekly ·
Quick answer: The median home sale price in Prior Lake, MN is $492,500, up 14.5% year-over-year. Homes sell in an average of 50 days with 66 active listings. The market is currently a balanced market.
$492,500median sale price
Is Prior Lake a buyer's or seller's market?
Prior Lake, MN is currently a balanced market, based on 4.1 months of supply and homes selling in about 50 days. How we determine this →
Homes sold
16
Last 12 weeks
Days on market
50
Average pace
Active listings
66
4.1 months supply
Sale-to-list
97.3%
Below asking
Prior Lake, MN market data
| Metric | Value |
|---|---|
| Median sale price | $492,500 |
| Median list price | $517,500 |
| Year-over-year price change | +14.5% |
| Average days on market | 50 days |
| Active inventory | 66 listings |
| Months of supply | 4.1 months |
| Sale-to-list price ratio | 97.3% |
| Market condition | Balanced market |
Source: Redfin · Updated weekly
The Prior Lake housing market is currently classified as a balanced market with a median sale price of $492,500. Prices have risen 14.5% compared to last year, with homes spending an average of 50 days on market, indicating 4.1 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.
Market trends
Homes for sale in Prior Lake
There are currently 66 homes listed for sale in Prior Lake, Minnesota. The median listing price is $518K.
Active listings
66
Homes on market
Median list price
$518K
Avg. days on market
50
Days until sale
New this week
39
Newly listed
Top public schools in Prior Lake
10 schools tracked · 4,235 students
The largest public schools serving Prior Lake, MN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Prior Lake-Savage Middle School
Grades 6-8 · 1,996 students
JEFFERS POND ELEMENTARY
Grades K-5 · 504 students
WestWood Elementary
Grades K-5 · 492 students
Five Hawks Elementary
Grades K-5 · 477 students
La Ola Del Lago at Grainwood
Grades K-5 · 471 students
Edgewood ECSE
Grades PK · 149 students
PRIOR LAKE-SAVAGE AREA ALC
Grades 9-12 · 93 students
Laker Online
Grades 6-12 · 45 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
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Frequently asked questions
What is the average home price in Prior Lake?
The median home sale price in Prior Lake is $492,500, up 14.5% from last year.
How long do homes stay on market in Prior Lake?
Homes typically spend 50 days on market before going under contract.
Is Prior Lake a buyer's or seller's market?
With 4.1 months of supply, Prior Lake is currently a balanced market.
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