Update: Real Estate Activity on Prior Lake – July 27, 2013

Wagon Bridge, Prior Lake

Lakeshore homes on Prior Lake are always in demand, with price ranges that suit almost any budget.  Here’s the latest real estate activity for homes on the lake:

Currently for sale:

There are 34 homes currently for sale on Prior Lake, ranging from a 1 bedroom home for $359,900 to a nearly 10,000 square foot home for $4,299,000.

Sold (closed) in the last sixty days:

Eleven homes were closed in the last 60 days.  Prices ranged from $340,000 to $1,188,500, with a median price of $685,900.

Listed in the last thirty days:

Six new listings came on the market in the last 30 days with prices from $535,000 to $695,000.  The median price of these new listings is $634,250.  Two of the six have already been sold.

Closed year-to-date 2013:

Twenty homes on the lake have been sold (closed) so far this year, with prices from $340,000 to $1,700,000.  The median price of the sold homes was $631,000.

If you own a home on the lake and are thinking about selling, it still isn’t too late to get it done this season but you shouldn’t wait too much longer.  If you’re thinking of waiting until next spring, there are a few things for you to consider.  No one knows what the market will be like next summer.  Projections are for a continued rebound but that can change quickly.  Interest rates are making a move up but aren’t projected to climb too much in the near future.  Bottom line is, we know the market is good right now but we have no certain way of knowing what it will be next spring.  With that in mind, if you are still sure you want to wait until next season, be sure you start preparing for it well before then, depending on how much you need to do to get your home ready for the market.

While you’re here, please visit my Facebook business page by clicking the link on the right.  If you like it, I’d love for you to click the “Like” button!

As always, I’m here to help so if you have any questions at all, feel free to ask away.


About Bob Gilbert, GRI

Realtor with Edina Realty, Prior Lake, MN
This entry was posted in Exceptional Property, Lake Homes, Selling Your Home and tagged , , , , . Bookmark the permalink.

One Response to Update: Real Estate Activity on Prior Lake – July 27, 2013

  1. Pingback: 5 Questions to Ask When Buying A Lakeshore Home | Bob Gilbert, GRI, REALTOR with Edina Realty

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