25 minutes on RocketTour
$8,479 Closing Credit¹
#6697014, Listing Office: D.R. Horton, Inc.
Prior Lake Housing Market Report March 2025•Scott County, Minnesota
Housing Prices in Prior Lake, MN
How much do homes in Prior Lake, MN cost?
Housing Market Conditions
Is Prior Lake, MN a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Prior Lake is a Seller's Market
Difference Since March 2024
Since last year, Prior Lake has remained a Seller's Market.
Insight
Prior Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Median Sold Price
$495,000$198/SqFt
-$20,000
-3.9%
Based on all homes sold in the last 12 months
Insight
Homes in Prior Lake have sold for 3.9% less than they did a year ago.
Summary: The median home sold price in Prior Lake was $495,000 in March 2025, down 3.9% from last year, and the median price per square foot was $198.
Median Sold Price By Cities
| City | Mar 2024 | Mar 2025 | Change YoY |
|---|---|---|---|
| Spring Lake Township | $740K | $765.3K | +3.4% |
| Savage | $416.6K | $430K | +3.2% |
| Shakopee | $390K | $389.9K | 0.0% |
| Credit River Township | $875K | $850K | -2.9% |
| Prior Lake | $515K | $495K | -3.9% |
Median Sold Price By Bedrooms
| Beds | Mar 2024 | Mar 2025 | Change YoY |
|---|---|---|---|
| 11 Bedroom | $239K | $222.5K | -6.9% |
| 22 Bedrooms | $288.2K | $315K | +9.3% |
| 33 Bedrooms | $389.5K | $405K | +4.0% |
| 44 Bedrooms | $570K | $535K | -6.1% |
| 55+ Bedrooms | $722.5K | $748.1K | +3.5% |
Summary: Prior Lake housing price by bedroom type for March 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -6.9%. The home price for 2 bedroom homes increased by +9.3%. The home price for 3 bedroom homes increased by +4.0%. The home price for 4 bedroom homes decreased by -6.1%. The home price for 5 bedroom homes increased by +3.5%.
How does Prior Lake, MN compare with other places?
Market comparison tool
Data and numbers shown are subject to change and may vary based on different timeframes.
Prior Lake, MN
Housing supply in Prior Lake, MN
How many homes are available in Prior Lake, MN?
Number of Homes For Sale
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 154Last MonthMar 2025 | ||
| 1102 months agoFeb 2025 | +40.0 % Change MoMFeb – Mar |
Summary: The Prior Lake real estate market had 154 homes for sale in Mar 2025, a 40.0 % increase compared to Feb 2025.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 29Last MonthMar 2025 | ||
| 142 months agoFeb 2025 | +107.1 % Change MoMFeb – Mar |
Homes For Sale By Bedroom Count
| Beds | Feb 2025 | Mar 2025 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 2 | 3 | +50.0% |
| 22 Bedrooms | 12 | 16 | +33.3% |
| 33 Bedrooms | 30 | 39 | +30.0% |
| 44 Bedrooms | 38 | 56 | +47.4% |
| 55+ Bedrooms | 28 | 40 | +42.9% |
Summary: Prior Lake housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +50.0%. The inventory for 2 bedroom homes increased by +33.3%. The inventory for 3 bedroom homes increased by +30.0%. The inventory for 4 bedroom homes increased by +47.4%. The inventory for 5 bedroom homes increased by +42.9%.
Asking Price vs. Sold Price
How much do homes in Prior Lake, MN cost?
Over Asking Price7 Homes
At Asking Price7 Homes
Under Asking Price15 Homes
Insight
If you're buying a home in Prior Lake, you may be able to get a good deal. 51.7% of homes here sold below asking price last month.
Summary: A total of 29 homes were sold or pending in Prior Lake in March 2025, up by 107.1% month-over-month. Of the 29 sold homes, 52% were sold under asking, 24% were sold at asking, and and 24% were sold over asking.
Days on Market for Prior Lake, MN
How long does it take to sell a home in Prior Lake, MN?
Breakdown of Home Sale Times
Under 30 Days14 Homes
30 – 90 Days9 Homes
Over 90 Days6 Homes
Insight
Many homes in Prior Lake are selling fast, if you're buying plan to act quickly.
Summary: During March 2025, 29 homes were sold in Prior Lake; 48% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
Average Sale Time
| This Year | 1 year ago | Change YoY |
|---|---|---|
| 57 DaysThis YearMar 2025 | ||
| 52 Days1 year agoMar 2024 | +9.2 % Change YoYMar 2024 – Mar 2025 |
Summary: Homes in Prior Lake had an average listing age of 57 days in Mar 2025, up by 9.2% compared to the previous year.
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Newest Listings in Prior Lake, MN
What homes are available in Prior Lake, MN?
1 hour on Rocket
$9,488 Closing Credit¹
#6697703, Listing Office: RE/MAX Advantage Plus
3 hours on Rocket
$10,000 Closing Credit¹
#6697384, Listing Office: Keller Williams Select Realty
4 hours on Rocket
$4,334 Closing Credit¹
#6692117, Listing Office: Edina Realty, Inc.
Coming soon
#6694427, Listing Office: eXp Realty
1 day on Rocket
#6697036, Listing Office: Kubes Realty Inc
1 day on Rocket
#6696954, Listing Office: Edina Realty, Inc.
1 day on Rocket
#6696988, Listing Office: Kubes Realty Inc
Coming soon
$4,630 Closing Credit¹
#6696762, Listing Office: National Realty Guild
1 day on Rocket
$10,000 Closing Credit¹
#6696756, Listing Office: Re/Max Advantage Plus
Coming soon
$10,000 Closing Credit¹
#6694413, Listing Office: eXp Realty
2 days on RocketTour
$9,797 Closing Credit¹
#6696015, Listing Office: Keller Williams Preferred Rlty
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Based on information from NorthStar of Minnesota / Regional Multiple Listing Service of Minnesota Inc., for the period 04/01/2023 - 04/01/2025
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Last updated on: 4/4/2025, 5:22:51 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.