Homes for Sale in Prior Lake, MN

Prior Lake is a premier Scott County community defined by its stunning Upper and Lower Prior Lake, offering exceptional boating and water recreation. The city blends a relaxed lakeside lifestyle with premier entertainment at the nearby Mystic Lake complex. Families are attracted to the spacious neighborhoods and the highly rated Prior Lake-Savage Area schools.

Why Live in Prior Lake

Upper and Lower Prior Lake boating

Premier entertainment at Mystic Lake

Relaxed lakeside lifestyle

Highly rated Prior Lake-Savage Area schools

Prior Lake Market Snapshot

Monthly figures from the NorthstarMLS Local Market Update.

Median Sales Price

$500,000

-2.9%vs. September 2025

% of Original List Price Received

96.5%

-2.4 ptsvs. September 2025

Days on Market

+9.1%vs. September 2025

Closed Sales

+12.1%vs. September 2025

Homes for Sale

131

-3%vs. September 2025

Months Supply

3.8

-2.6%vs. September 2025

Balanced market

Supply vs. Demand Trends

Data from NorthstarMLS, Copyright ShowingTime Plus LLC, research tool provided by the Saint Paul Area Association of REALTORS®.

Prior Lake Housing Market Today

Here is where the Prior Lake market stood in September 2026. The median sale price has decreased by 3% from last year to $500,000, though an opposite trend in price per square foot suggests this change more likely reflects the mix of homes that sold. Homes are selling 4 days longer than last year, averaging 48 days on market, and sellers are receiving 96.5% of their original asking price. The area is currently a balanced market with 3.8 months of supply. Active inventory is down 3% from last year to 131 homes for sale.

In a balanced market, neither side has a steep advantage, making careful pricing for sellers and steady negotiation for buyers the key to success.

In Prior Lake, homes were most commonly built in 2000-2009, about 86% of occupied homes are owner-occupied, and the average commute is 25 minutes. Roughly 70% of homes are single-family detached, and the median home was built in 1998.

Homeowners with a mortgage typically spend $2,478 a month on housing costs, higher than the Twin Cities metro and the median property tax bill is $4,467 a year.

Read the September 2026 Prior Lake market report

Data: NorthstarMLS Local Market Update via 10K Research, published October 12, 2026.

Prior Lake market questions

Is Prior Lake a buyer's or seller's market?

Prior Lake was a balanced market in September 2026, with 3.8 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 131 homes for sale.

How fast are homes selling in Prior Lake?

Homes that sold in September 2026 spent an average of 48 days on market, 4 days slower than a year earlier. Sellers received 96.5% of their original list price on average.

Are home prices going up in Prior Lake?

No. The median sale price fell 2.9% year over year to $500,000. Price per square foot moved the other way (from $194 to $243), which suggests the change mostly reflects the mix of homes sold.

Living in Prior Lake

Housing, cost of ownership and commuting, compared with the Twin Cities metro.

In Prior Lake, homes were most commonly built in 2000-2009, about 86% of occupied homes are owner-occupied, and the average commute is 25 minutes.

Data: ACS 2020-2024 5-year estimates

What does it cost to own a home in Prior Lake?

Homeowners with a mortgage typically pay $2,478 a month in housing costs and the median property tax bill is $4,467 a year.