Prior Lake Real Estate Market Report: October 2024
In October 2024, the median sale price in Prior Lake was $492,500.
- Median Sales Price
- $492,500
- No prior comparison
- Homes for Sale
- 90
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- Months Supply
- 2.5
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- Seller's market
- Days on Market
- 54
- No prior comparison
- Closed Sales
- 54
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- Percent of Original List Received
- 97%
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What this means
The median sale price is currently $492,500.
Homes are averaging 54 days on market, and sellers are receiving 97% of their original asking price.
The area is currently a seller's market with 2.5 months of supply. There are currently 90 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 October 2024, with 2.5 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 90 homes for sale.
How fast are homes selling in Prior Lake?
Homes that sold in October 2024 spent an average of 54 days on market. Sellers received 97% of their original list price on average.
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 |
How Prior Lake compares with the Twin Cities region
In October 2024, the median sale price in Twin Cities (16-County Region) was $381,950.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published August 24, 2026.
Report published .
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