In May 2018, there were 59 homes sold, with a median sale price of $275,900 - a 3% decrease over the $284,500 median sale price for the same period of the previous year. There were 73 homes sold in Prior Lake in May 2017.
The median sales tax in Prior Lake for 2018 was $3,824. In 2017, the median sales tax was $3,478. This marks an increase of 9.9%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.4%.
The following table compares Prior Lake to other Scott County cities in May 2018:
| City | May 2018 Home Sales | May 2017 Home Sales | % change (Total Home Sales) | May 2018 Median Sales Price | May 2017 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Elko New Market | 8 | 12 | -33.3% | $299,500 | $253,000 | 18.4% |
| Savage | 44 | 62 | -29% | $291,000 | $289,500 | 0.5% |
| Prior Lake | 59 | 73 | -19.2% | $275,900 | $284,500 | -3% |
| New Prague | 9 | 15 | -40% | $256,000 | $234,688 | 9.1% |
| Shakopee | 72 | 79 | -8.9% | $252,500 | $227,500 | 11% |
| Belle Plaine | 17 | 24 | -29.2% | $234,900 | $211,500 | 11.1% |
| Jordan | 13 | 6 | 116.7% | $192,858 | $184,400 | 4.6% |
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