Prior Lake home prices fall in October 2020

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The median sale price of a home sold in October 2020 in Prior Lake fell by $55,500 while total sales decreased by 46.7%, according to

In October 2020, there were 24 homes sold, with a median sale price of $364,500 - a 13.2% decrease over the $420,000 median sale price for the same period of the previous year. There were 45 homes sold in Prior Lake in October 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 October 2020.

The following table compares Prior Lake to other Scott County cities in October 2020:

CityOct. 2020 Home SalesOct. 2019 Home Sales% change (Total Home Sales)Oct. 2020 Median Sales PriceOct. 2019 Median Sales Price% change (Median Sales Price)
Elko New Market713-46.2%$370,000$295,00025.4%
Prior Lake2445-46.7%$364,500$420,000-13.2%
New Prague59-44.4%$293,000$259,90012.7%
Belle Plaine613-53.8%$240,000$234,0002.6%

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