Prior Lake, MN
Prior Lake, Minnesota Real Estate
Prior Lake is located 20 miles southwest of downtown Minneapolis in Scott County. It borders the cities of Savage and Shakopee. Prior Lake has long been a favorite of home buyers because of the size of the lake and the similarity to Lake Minnetonka but at a better price. The area prior Lake is 18.33 mi.² with almost 3 mi.² of water. The population is a little over 25,000 and was incorporated in 1891.
The main highway through prior Lake is County Road 13. Prior Lake has a quaint old-fashioned downtown but as you expand north has all of the latest shopping and restaurants including Target, Cub foods and many restaurants.
Prior Lake was integrated with its neighboring cities Savage to create the Savage/Prior Lake high school. There are six elementary schools, Glendale, five hawks, Jeffers Pond, Westwood and Greenwood. The middle schools are hidden Oaks, Edgewood and twin Oaks.
Because of the size of prior Lake you can still find new construction, even on the lake itself. Due to the strict building laws on the lake, many home owners have chosen to purchase the homes and update them with the structure intact versus tearing them down and building new. Many of the homes in prior Lake were built between the 50s and the 80s. You can find a variety of homes for sale from single-family homes to townhomes as well as some condominiums. Prices start in the low 100,000s all the way up into the million dollar price range.
My clients like Prior Lake and have purchased homes there because of the lake more than anything else. There is a mix of lakeshore homes as well as communities that shared deeded access to the lake. However, you have to be very careful of all of the rules and regulations of the Association with the deeded access because they're all very different. The homes off of the lake in Prior Lake general are very similar to the homes in Savage or Burnsville. All of the property taxes are a little bit higher I've noticed in Prior Lake and I'm assuming some of that has to do with the proximity to the lake itself. Some people have moved to Prior Lake to be closer to Mystic Lake. So there's a variety of reasons as to why people live there. Plus once they opened up 185th St. from 35W in Lakeville, you had a direct route from the East to get to the city.
Use the interactive real estate sales graphs below for real-time statistics on the City of Prior Lake. (All updated maps are based on every property in the city including single-family homes, townhomes and condos. For more specific information about a neighborhood, price range or style of home, contact Tom Sommers 952-994-7204.)
Median sales price in Prior Lake
Average days on market over last three years in Prior Lake
Average months’ supply of homes for sale in Prior Lake (This is also referred to as the absorption rate. Meaning, if no other homes came on the market from this day forward it would take this number of months for all the homes to sell. 0 to 3 months is a seller's market, 4 to 6 months is an average market and 6+ months of inventory is typically a buyer’s market)
Search Prior Lake, MN Homes for Sale
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 the owner of this site are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. Information deemed reliable but not guaranteed.
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Today's Market Trends for Prior Lake, MN *
* All data pertains to single-family homes