Is Prior Lake, MN 55372 a buyer’s or seller’s market?

The Prior Lake housing market right now

In the three months ending August 31, 2026, 27% of homes in Prior Lake, MN 55372 sold above their list price, the typical home went under contract in 25 days and there were 2.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 142 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 31%, homes sold faster (28 days then) and the median sale price rose 14% to $560,757. Overall, Prior Lake is less competitive than a year ago, which gives buyers more room.

Within Scott County, homes here sell faster than in 67% of the county’s ZIP codes, and sell more often over asking than in 50%. On our competition score, Prior Lake ranks #166 of 296 MN ZIP codes with enough sales (score 65 out of 100).

Nearby, buyers who want less competition could look at Elko New Market 55020 (10% sold over asking) or Jordan 55352 (14% sold over asking), while Belle Plaine 56011 (33% sold over asking) and Savage 55378 (33% sold over asking) are even more competitive.