In May 2017, there were 73 homes sold, with a median sale price of $284,500 - a 4.9% increase over the $271,250 median sale price for the same period of the previous year. There were 86 homes sold in Prior Lake in May 2016.
The median sales tax in Prior Lake for 2017 was $3,478. In 2016, the median sales tax was $3,372. This marks an increase of 3.1%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.2%.
The following table compares Prior Lake to other Scott County cities in May 2017:
| City | May 2017 Home Sales | May 2016 Home Sales | % change (Total Home Sales) | May 2017 Median Sales Price | May 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Savage | 62 | 63 | -1.6% | $289,500 | $255,000 | 13.5% |
| Prior Lake | 73 | 86 | -15.1% | $284,500 | $271,250 | 4.9% |
| Elko New Market | 12 | 6 | 100% | $253,000 | $312,855 | -19.1% |
| New Prague | 15 | 13 | 15.4% | $234,688 | $192,500 | 21.9% |
| Shakopee | 79 | 84 | -6% | $227,500 | $237,500 | -4.2% |
| Belle Plaine | 24 | 20 | 20% | $211,500 | $192,500 | 9.9% |
| Jordan | 6 | 19 | -68.4% | $184,400 | $260,000 | -29.1% |
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