In March 2017, there were 34 homes sold, with a median sale price of $262,500 - a 8.2% increase over the $242,500 median sale price for the same period of the previous year. There were 49 homes sold in Prior Lake in March 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 1.3%.
The following table compares Prior Lake to other Scott County cities in March 2017:
| City | Mar. 2017 Home Sales | Mar. 2016 Home Sales | % change (Total Home Sales) | Mar. 2017 Median Sales Price | Mar. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Elko New Market | 7 | 11 | -36.4% | $302,000 | $250,000 | 20.8% |
| Savage | 39 | 45 | -13.3% | $265,500 | $238,000 | 11.6% |
| Prior Lake | 34 | 49 | -30.6% | $262,500 | $242,500 | 8.2% |
| New Prague | 6 | 6 | 0% | $228,250 | $210,950 | 8.2% |
| Shakopee | 47 | 54 | -13% | $222,500 | $233,325 | -4.6% |
| Jordan | 9 | 13 | -30.8% | $220,000 | $248,500 | -11.5% |
| Belle Plaine | 16 | 24 | -33.3% | $203,850 | $194,950 | 4.6% |
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