Prior Lake Real Estate Market Report: December 2025
In December 2025, the median sale price in Prior Lake was $420,500, down 9.6% from a year earlier.
- Median Sales Price
- $420,500
- -9.6% vs. December 2024
- Homes for Sale
- 65
- +1.6% vs. December 2024
- Months Supply
- 1.9
- +5.6% vs. December 2024
- Seller's market
- Days on Market
- 92
- +84% vs. December 2024
- Closed Sales
- 31
- +24% vs. December 2024
- Percent of Original List Received
- 93.9%
- -0.8 pts vs. December 2024
What this means
The median sale price has decreased by 10% from last year to $420,500, and a similar trend in price per square foot suggests this is a real move in values rather than a change in the mix of homes selling.
Homes are selling 42 days longer than last year, averaging 92 days on market, and sellers are receiving 93.9% of their original asking price.
The area is currently a seller's market with 1.9 months of supply. Active inventory is up 2% from last year to 65 homes for sale.
In this seller's market, buyers should be prepared to act quickly, while sellers can generally expect strong interest if priced correctly.
Common questions about the Prior Lake market
Is Prior Lake a buyer's or seller's market?
Prior Lake was a seller's market in December 2025, with 1.9 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 65 homes for sale.
How fast are homes selling in Prior Lake?
Homes that sold in December 2025 spent an average of 92 days on market, 42 days slower than a year earlier. Sellers received 93.9% of their original list price on average.
Are home prices going up in Prior Lake?
No. The median sale price fell 9.6% year over year to $420,500. Price per square foot moved in the same direction (from $211 to $202), which suggests a real change in values rather than a shift in the mix of homes sold.
Market trends in Prior Lake
| Month | Median sale price | Closed sales | Days on market | Months supply |
|---|---|---|---|---|
| August 2024 | $520,000 | 43 | 63 | 3.5 |
| September 2024 | $439,950 | 42 | 33 | 3.2 |
| October 2024 | $492,500 | 54 | 54 | 2.5 |
| November 2024 | $639,873 | 36 | 65 | 2.1 |
| December 2024 | $465,000 | 25 | 50 | 1.8 |
| January 2025 | $520,000 | 17 | 85 | 1.9 |
| February 2025 | $430,000 | 14 | 91 | 2.2 |
| March 2025 | $430,000 | 33 | 73 | 2.5 |
| April 2025 | $471,250 | 34 | 38 | 2.9 |
| May 2025 | $537,000 | 39 | 46 | 3.3 |
| June 2025 | $485,000 | 47 | 59 | 3.4 |
| July 2025 | $427,500 | 38 | 62 | 3.2 |
| August 2025 | $507,500 | 52 | 55 | 3.4 |
| September 2025 | $515,000 | 33 | 44 | 3.6 |
| October 2025 | $507,500 | 44 | 50 | 3.5 |
| November 2025 | $500,000 | 25 | 53 | 2.9 |
| December 2025 | $420,500 | 31 | 92 | 1.9 |
How Prior Lake compares with the Twin Cities region
In December 2025, the median sale price in Twin Cities (16-County Region) was $380,000, up 2.7% from a year earlier.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published August 24, 2026.
Report published .
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