From October through December of 2019, there were 121 homes sold, with a median sale price of $342,000 - a 4.4% increase over the $327,500 median sale price for the same period of the previous year. There were 135 homes sold in Prior Lake in the fourth quarter of 2018.
The median sales tax in Prior Lake for 2019 was $3,870. In 2018, the median sales tax was $3,824. This marks an increase of 1.2%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.1%.
The following table compares Prior Lake to other Scott County cities in the fourth quarter of 2019:
| City | Oct. - Dec. 2019 Home Sales | Oct. - Dec. 2018 Home Sales | % change (Total Home Sales) | Oct. - Dec. 2019 Median Sales Price | Oct. - Dec. 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Prior Lake | 121 | 135 | -10.4% | $342,000 | $327,500 | 4.4% |
| Elko New Market | 23 | 20 | 15% | $329,875 | $321,250 | 2.7% |
| Savage | 96 | 122 | -21.3% | $299,825 | $277,700 | 8% |
| Jordan | 19 | 42 | -54.8% | $272,500 | $248,000 | 9.9% |
| Shakopee | 154 | 189 | -18.5% | $245,000 | $242,500 | 1% |
| Belle Plaine | 35 | 39 | -10.3% | $234,000 | $224,900 | 4% |
| New Prague | 25 | 25 | 0% | $225,000 | $225,000 | 0% |
Alerts Sign-up