Prior Lake Collection

Condo Living Homes in Prior Lake

Prior Lake's condo and townhome market is small but growing. The developments near downtown and along County Road 21 have newer townhomes in the $280K-$400K range — two and three bedrooms with attached garages. Lakefront condos are essentially nonexistent; the lake housing is single-family. The buyer profile is buyers seeking lake access without yard maintenance who want Prior Lake's lake access and school district without the yard. HOA fees run low by metro standards — $150-$300/month — because the buildings are new and the reserves are healthy.

Market Context — Twin Cities Metro

Median Sales Price$417,000

+2.7%vs. last year

Days on Market18 days

+5.9%vs. last year

Months Supply1.9 months

+5.6%vs. last year

Market Metric0

--Data unavailable

Metro-wide data provides context for Prior Lake pricing. Neighborhood-level stats vary.

Hand-Picked Listings

2 properties found matching your criteria.

Luxury home at 600 Washington Ave N #402

Minneapolis, MN

600 Washington 600

Minneapolis, MN

100 3rd 100

Condo Living Homes in Prior Lake — Common Questions

What are the hidden costs of buying a condo in Prior Lake?

Beyond the mortgage, budget for three things most Prior Lake condo buyers underestimate: special assessments (average $3,000-8,000 every 3-5 years for roof, exterior, or mechanical updates), HOA fee increases (typically 3-5% annually), and higher insurance deductibles for condo master policies. Always review the last 3 years of HOA meeting minutes before making an offer.

Is Prior Lake a good condo investment market right now?

Prior Lake condo demand is strong in the $200,000-350,000 range (first-time buyers and downsizers) and soft above $500,000. Rental demand supports cash flow for investors — expect $1,400-1,800/month rent for a 2BR. The key metric: price-per-square-foot. If you're paying over $250/sq ft, the math gets tight for investment returns.

Drawing from 25 years of Twin Cities real estate experience and 500+ guided transitions.

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Condo Living in Prior Lake — FAQ — Quick Answers