Prior Lake home prices rise in the third quarter of 2020

Medium realestate4

The median sale price of a home sold in the third quarter of 2020 in Prior Lake rose by $25,000 while total sales decreased by 30.4%, according to

From July through September of 2020, there were 126 homes sold, with a median sale price of $360,000 - a 7.5% increase over the $335,000 median sale price for the same period of the previous year. There were 181 homes sold in Prior Lake in the third quarter of 2019.

The median sales tax in Prior Lake for the most recent year with available data, 2019, was $3,870, approximately 1.1% of the median home sale price for the third quarter of 2020.

The following table compares Prior Lake to other Scott County cities in the third quarter of 2020:

CityJuly - Sept. 2020 Home SalesJuly - Sept. 2019 Home Sales% change (Total Home Sales)July - Sept. 2020 Median Sales PriceJuly - Sept. 2019 Median Sales Price% change (Median Sales Price)
Prior Lake126181-30.4%$360,000$335,0007.5%
Elko New Market2627-3.7%$352,950$297,00018.8%
New Prague24240%$277,450$242,40014.5%
Belle Plaine3153-41.5%$270,000$240,00012.5%

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