Prior Lake Real Estate market update for first time home buyers, home sellers,
and relocation to the Prior Lake area.
The sales data is in for home and property August sales and Prior Lake took the month off. There were a few changes but nothing that really jumps out at you. New listings were up 10% and closed sales were down 39%. All metro south areas home sales were down for August probably due the tax credit expiring for home owners. Median sales price jumped up 32% and this could be due to more non bank mitigated homes closing this month. Average sales price stayed mostly unchanged. Average days on market went up 12% to 172 days making Prior Lake one of the slower markets for the month. Single family inventory was up 3% and town house and condo inventory was down 30%.
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