Coming soon
$9,500 Closing Credit¹
Listing Office: RE/MAX Advantage Plus
Prior Lake Housing Market Report December 2024•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 December 2023
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
$506,833$197/SqFt
+$31,416
+6.6%
Based on all homes sold in the last 12 months
Insight
Homes in Prior Lake have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Prior Lake was $506,833 in December 2024, up 6.6% from last year, and the median price per square foot was $197.
Median Sold Price By City
| City | Dec 2023 | Dec 2024 | Change YoY |
|---|---|---|---|
| Prior Lake | $475.4K | $506.8K | +6.6% |
| Spring Lake Township | $730.3K | $775K | +6.1% |
| Shakopee | $382.3K | $394.9K | +3.3% |
| Savage | $418.7K | $424.9K | +1.5% |
| Credit River Township | $835K | $842.5K | +0.9% |
Median Sold Price By Bedrooms
| Beds | Dec 2023 | Dec 2024 | Change YoY |
|---|---|---|---|
| 11 Bedroom | $239K | $222.5K | -6.9% |
| 22 Bedrooms | $289K | $300K | +3.8% |
| 33 Bedrooms | $389K | $407.5K | +4.8% |
| 44 Bedrooms | $563.5K | $530K | -5.9% |
| 55+ Bedrooms | $725K | $736K | +1.5% |
Summary: Prior Lake housing price by bedroom type for December 2024, 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 +3.8%. The home price for 3 bedroom homes increased by +4.8%. The home price for 4 bedroom homes decreased by -5.9%. The home price for 5 bedroom homes increased by +1.5%.
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 |
|---|---|---|
| 98Last MonthDec 2024 | ||
| 1182 months agoNov 2024 | -16.9 % Change MoMNov – Dec |
Summary: The Prior Lake real estate market had 98 homes for sale in Dec 2024, a 16.9 % decrease compared to Nov 2024.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 25Last MonthDec 2024 | ||
| 392 months agoNov 2024 | -35.9 % Change MoMNov – Dec |
Homes For Sale By Bedroom Count
| Beds | Nov 2024 | Dec 2024 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 1 | 0 | -100.0% |
| 22 Bedrooms | 13 | 11 | -15.4% |
| 33 Bedrooms | 39 | 30 | -23.1% |
| 44 Bedrooms | 30 | 31 | +3.3% |
| 55+ Bedrooms | 35 | 26 | -25.7% |
Summary: Prior Lake housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes decreased by -100.0%. The inventory for 2 bedroom homes decreased by -15.4%. The inventory for 3 bedroom homes decreased by -23.1%. The inventory for 4 bedroom homes increased by +3.3%. The inventory for 5 bedroom homes decreased by -25.7%.
Asking Price vs. Sold Price
How much do homes in Prior Lake, MN cost?
Over Asking Price3 Homes
At Asking Price3 Homes
Under Asking Price19 Homes
Insight
If you're buying a home in Prior Lake, you may be able to get a good deal. 76% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in Prior Lake in December 2024, down by 35.9% month-over-month. Of the 25 sold homes, 76% were sold under asking, 12% were sold at asking, and and 12% 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 Days15 Homes
30 – 90 Days8 Homes
Over 90 Days2 Homes
Insight
Many homes in Prior Lake are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 25 homes were sold in Prior Lake; 60% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Average Sale Time
| This Year | 1 year ago | Change YoY |
|---|---|---|
| 35 DaysThis YearDec 2024 | ||
| 57 Days1 year agoDec 2023 | -37.9 % Change YoYDec 2023 – Dec 2024 |
Summary: Homes in Prior Lake had an average listing age of 35 days in Dec 2024, down by 37.9% compared to the previous year.
Connect With An Agent
Local real estate agents are ready to help you find a home here
Sell My Home
Sell your home with an expert or get the job done on your own.
Get Approved
Get a customizable mortgage solution based on today's rates.
Newest Listings in Prior Lake, MN
What homes are available in Prior Lake, MN?
New - 1 day on Rocket
$10,000 Closing Credit¹
Listing Office: 413 Realty LLC
New - 5 days on Rocket
$5,332 Closing Credit¹
Listing Office: Edina Realty, Inc.
New - 5 days on Rocket
$5,641 Closing Credit¹
Listing Office: Keller Williams Preferred Rlty
New - 6 days on Rocket3D tour
$10,000 Closing Credit¹
Listing Office: RE/MAX Results
New - 6 days on Rocket
$6,234 Closing Credit¹
Listing Office: Keller Williams Realty Integrity Lakes
New - 6 days on Rocket
$7,480 Closing Credit¹
Listing Office: Edina Realty, Inc.
New - 6 days on Rocket
$5,461 Closing Credit¹
Listing Office: Coldwell Banker Realty
New - 6 days on Rocket
$7,896 Closing Credit¹
Listing Office: Edina Realty, Inc.
New - 7 days on Rocket
$6,531 Closing Credit¹
Listing Office: Coldwell Banker Realty
$7,362 Closing Credit¹
Listing Office: D.R. Horton, Inc.
$3,563 Closing Credit¹
Listing Office: Edina Realty, Inc.
Nearby markets
Popular Cities with Homes for Sale in Minnesota
- Homes for sale in Albert Lea, MN
- Homes for sale in Alexandria, MN
- Homes for sale in Austin, MN
- Homes for sale in Blaine, MN
- Homes for sale in Bloomington, MN
- Homes for sale in Brainerd, MN
- Homes for sale in Buffalo, MN
- Homes for sale in Duluth, MN
- Homes for sale in Hastings, MN
- Homes for sale in Hutchinson, MN
- Homes for sale in Lakeville, MN
- Homes for sale in Maple Grove, MN
- Homes for sale in Minneapolis, MN
- Homes for sale in Moorhead, MN
- Homes for sale in Owatonna, MN
- Homes for sale in Plymouth, MN
- Homes for sale in Rochester, MN
- Homes for sale in Saint Cloud, MN
- Homes for sale in Saint Paul, MN
- Homes for sale in Winona, MN
- Homes for sale in Woodbury, MN
MLS Disclaimers and Copyright
Based on information from NorthStar of Minnesota / Regional Multiple Listing Service of Minnesota Inc., for the period 01/01/2023 - 01/01/2025
Copyright © 2025 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. By searching, you agree to the EULA Terms Agreement.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Some or all of the property listings above may have been submitted to the Regional Multiple Listing Service (RMLS) by the listing broker for distribution to cooperating brokers through Broker reciprocity. Attribution of the listing broker may be found on the detail page for all properties. The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.
Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited. No part of this search utility may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise. Home sale information is not an appraisal, competitive or comparative market analysis, CMA or home valuation.
DMCA Notice
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 4:22:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.