Prior Lake residential real estate market — Jun 2026

Is Prior Lake a buyer's or seller's market?

As of the latest data, Prior Lake is a seller's market. There are about 1.5 months of inventory — under 4 months typically favours sellers. Around 23.8% of homes sold above asking, and the typical sale closed at 99.6% of list price.

How much does a home cost in Prior Lake?

The median sold price for a home in the Prior Lake neighbourhood is $884K, down 22.1% from a year ago. The average sold price is $952K. That works out to roughly $500 per square foot.

Are homes in Prior Lake selling over asking?

23.8% of homes that sold in the Prior Lake neighbourhood closed above their list price. The typical home sold at 99.6% of asking. Among the homes that sold over asking, the median premium was +$3.9k over asking.

How long do homes take to sell in Prior Lake?

Half of the homes that sold in the Prior Lake neighbourhood went under contract within about 32 days — the median days on market. A longer time on market gives buyers more negotiating room.

Are home prices going up or down in Prior Lake?

Median sold prices in the Prior Lake neighbourhood are down 22.1% year over year, at $884K. Currently 11.3% of active listings have cut their asking price at least once, a sign of steady pricing pressure.

Is now a good time to buy or sell in Prior Lake?

It depends which side you are on. With about 1.5 months of inventory, the Prior Lake neighbourhood favours sellers. Sellers have leverage, with homes moving in around 32 days and 23.8% selling over asking — buyers should be ready to act quickly and expect competition.

What is the best time of year to sell a home in Prior Lake?

Across the past two years, sales activity in the Prior Lake neighbourhood has been strongest in June and quietest in December. In Greater Victoria the spring market — roughly March through June — is typically the busiest selling season, when buyer demand and prices tend to peak, with activity easing over the winter.

How many homes are for sale in Prior Lake?

As of the latest data there are 1 active home listings in the Prior Lake neighbourhood. Over the period, 20 new listings came to market and 22 sold, which is about 1.5 months of inventory at the current sales pace.

Do homes in Prior Lake sell for more than their assessed value?

The typical home in the Prior Lake neighbourhood sold at 106.4% of its BC-assessed value — about 6% above its BC Assessment. Assessments are set once a year and lag the market, so a ratio above 100% is common when prices are rising.

Directional market benchmarks from Repliers MLS, BC Assessment & VREB — not an appraisal or personalized advice.