Prior Lake Real Estate Market Report: July 2026
In July 2026, the median sale price in Prior Lake was $508,500, up 18.9% from a year earlier.
- Median Sales Price
- $508,500
- +18.9% vs. July 2025
- Homes for Sale
- 123
- +7% vs. July 2025
- Months Supply
- 3.6
- +12.5% vs. July 2025
- Balanced market
- Days on Market
- 43
- -30.6% vs. July 2025
- Closed Sales
- 44
- +15.8% vs. July 2025
- Percent of Original List Received
- 96.9%
- -3.4 pts vs. July 2025
What this means
The median sale price has increased by 19% from last year to $508,500.
Homes are selling 19 days more quickly than last year, averaging 43 days on market, and sellers are receiving 96.9% of their original asking price.
The area is currently a balanced market with 3.6 months of supply. Active inventory is up 7% from last year to 123 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.
Common questions about the Prior Lake market
Is Prior Lake a buyer's or seller's market?
Prior Lake was a balanced market in July 2026, with 3.6 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 123 homes for sale.
How fast are homes selling in Prior Lake?
Homes that sold in July 2026 spent an average of 43 days on market, 19 days faster than a year earlier. Sellers received 96.9% of their original list price on average.
Are home prices going up in Prior Lake?
Yes. The median sale price rose 18.9% year over year to $508,500. Price per square foot moved in the same direction (from $207 to $209), 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 |
| January 2026 | $492,500 | 16 | 112 | 1.9 |
| February 2026 | $492,500 | 18 | 41 | 2.3 |
| March 2026 | $441,500 | 31 | 88 | 2.4 |
| April 2026 | $465,000 | 43 | 58 | 2.6 |
| May 2026 | $525,000 | 53 | 76 | 3 |
| June 2026 | $490,000 | 35 | 38 | 3.4 |
| July 2026 | $508,500 | 44 | 43 | 3.6 |
How Prior Lake compares with the Twin Cities region
In July 2026, the median sale price in Twin Cities (16-County Region) was $408,000, up 3.3% 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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