Homes for Sale in Prior Lake, MN

Here is where the Prior Lake market stood in August 2026. The median sale price has increased by 12% from last year to $570,500, though an opposite trend in price per square foot suggests this change more likely reflects the mix of homes that sold. Homes are selling 3 days more quickly than last year, averaging 52 days on market, and sellers are receiving 97.3% of their original asking price. The area is currently a balanced market with 3.5 months of supply. Active inventory is holding steady at 121 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.