Like most areas in the Twin Cities, Prior Lake has also felt the pinch of the real estate market correction currently underway. So far this year, homes sales are down 31% from 2006 and days on the market has increased, currently an average of 168. Below are some rundowns of market activity for the Prior Lake area for single family residential.
$300,000-500,000 - 100 Active Listings, 10 pending, 28 sold
$500,000-800,000 - 91 Active Listings, 11 pending, 18 sold
$800,000-$1 Million - 24 Active Listings, 1 pending, 6 sold
Upper Tier Homes
$1-2 Million : 34 Active Listings
$2-3 Million : 3 Active Listings
$3-5 Million : 1 Active Listing
The luxury home side of Prior Lake has 38 listings, but has only had 2 homes sold for the entire year of 2007. The most expensive home is priced at $3.9 Million and sits on 29 acres.
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