Prior Lake is located in Scott County, 20 southwest of Minneapolis. Surrounding the shores of Lower and Upper Prior Lake, the city lies south of the Minnesota River.
The Lake named Prior Lake is made of two sections, Upper and Lower Prior Lake. A very popular destination for fishing, water sports and snowmobiling.
From May of 2015 to May of 2016 this is the most up to date information on what is happening in the Prior Lake Real Estate Market. Statistics offered by the Minneapolis Area Association of Realtors.
|Median Sales Price||$280,000||$263,035||-6.1%|
|Days on the market||103||79||-23.3%|
|Months Supply of Inventory||5.3||3.1||-41.5%|
What this means for you if you’re selling your home:
It’s a very good time to sell your home if you live in Prior Lake!
- We know it’s a sellers market when the number of months supply is under 5. In Prior Lake it’s at 3.1. This signals a strong seller’s market.
- While the number of homes on entering the market is seasonally down, we expect this to change with the warming of the weather.
- Prior Lake is currently trending similar to the rest of the metro area.
- The best news has to do with how many homes are on the market. There is a shortage of homes currently listed which means there is more demand, which will continue to drive up the prices of homes. In fact, it has become a stronger seller’s market in Prior Lake than it was one year ago.
See more Statistics on Prior Lake Real Estate Here
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