Prior Lake is an 18.3-square-mile developing suburb located in Scott County, one of the fastest-growing counties in Minnesota. Located 25.5 miles southwest of Minneapolis, Prior Lake is surrounded by nature’s beauty and has an alluring small-town atmosphere. It’s everything that has made this community highly sought-after for those who want to leave the stress of big city living behind.
What’s ahead
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A Brief Look at Prior Lake, MN’s History
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What It’s Like Living in Prior Lake, MN
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Things to Do in Prior Lake, MN
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Real Estate Trends in Prior Lake, MN
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Benefits of Lakefront Living in Prior Lake, MN
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Things to Consider When Buying a Waterfront Property
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Team up with an expert in the Prior Lake, MN real estate market
A Brief Look at Prior Lake, MN’s History
Named after Charles H. Prior, a railroad pioneer and official at the Chicago, Milwaukee & St. Paul Railway Company, Prior Lake is composed of two areas: Upper Prior Lake and Lower Prior Lake. It was officially incorporated on May 5, 1891, and was initially a sleepy farming community that served as a summer getaway for out-of-towners.
The city’s growth began in the 1920s to 1950s, starting from being a classic American town and experiencing even greater progress from World War II to 1960, with recreational activities being centered around the lake. Since then, Prior Lake has become a bedroom community and opened up to the rest of the state upon the completion of Highway 13.
Today, it is a recreational and residential community known for its quality of life, with continued opportunities for growth.
What It’s Like Living in Prior Lake, MN
Prior Lake, MN is the best place for you if you’ve always planned to have a more active lifestyle. Aside from having vast outdoor and green spaces for you to explore, Lake Prior also boasts large athletic complexes, small neighborhood parks, boat slips, swimming beaches, fishing piers, and a 160-acre lakefront community park.
The Upper and Lower Prior Lake regions, which total 1,340 acres, are home to two of the most popular lakes in the metropolitan area for fishing, boating, and skiing. Whether you’re a hardcore outdoor and water enthusiast or someone who simply enjoys taking casual walks or boat rides, you’ll be spoiled for choice all year long for things to do in Prior Lake, MN.
Close to nature and having that sought-after small-town atmosphere, Prior Lake, MN is perfect for those who are yearning for a friendlier and more laidback community lifestyle. Located in one of the fastest-growing counties in Minnesota, Prior Lake offers the best that life has to offer by way of its lovely parks, many trails, and wetlands, in addition to its excellent schools.
The city has rapidly expanded as of late, with several new commercial developments including a brewery, a law office, and a restaurant and medical building in downtown, in addition to its existing boutiques, ice cream shop, and gourmet bakery. On top of that, its industrial park boasts nationally recognized enterprises. It may appear that Prior Lake has yet to hit its stride commercially and economically, but that only means that it will continue to grow and develop in the years to come, as new residents make Lake Prior their permanent address.
With its friendly neighborhood, quaint atmosphere, proximity to nature, and expanding and growing community, Prior Lake is a great place as it is, but continues to bristle with all kinds of opportunities for those who want to live, work, and play in this idyllic lake community.
Things to Do in Prior Lake, MN
1. Visit the Lakes Within Lake Prior
Fifteen of Minnesota’s 10,000 lakes can be found within the suburb of Prior Lake itself. The lake after which the town is named is the biggest and most popular, but the second largest, Spring Lake, is equally frequented for the fun things you can do there. Go swimming, boating, fishing, and spot the wildlife in the area.
2. Try Your Luck at Mystic Lake Casino
With 4,000 slot machines, more than 100 blackjack tables, and a dedicated bingo hall, Mystic Lake Casino is the biggest gaming and resort hotel in Minnesota. Go for the thrill of the spin or the luck of the draw, but stay for the live shows and events, spa and restaurants, and a chance to play on an award-winning championship golf course.
3. Hit the Beaches
Watzl’s Beach and Sand Point Beach are public beaches found on Lake Prior itself. Be as lazy or as active as you want to be. Lie in the sun or go for a swim. Kayak round the lake or get competitive on the sand volleyball courts. You can also conveniently sail to both beaches.
4. Discover Events and Activities for 55+ Residents
From tech talk to mahjong, glass blowing to chair yoga, and table tennis to defensive driving, Prior Lake’s adult resource and recreation center called Club Prior, offers nearly everything. Go over their monthly schedule of activities and sign up for something you want to have a go at.
5. Save the Dates This Summer
There’s no excuse to stay home this summer. Prior Lake is packed full of events and activities the whole family will enjoy. Bring your coolers to free outdoor concerts. Join the summer beach party. Enroll kids in sports or adventure camp. Check out this brochure for Prior Lake’s 2022 summer events and activities.
Real Estate Trends in Prior Lake, MN
If you’re planning on calling Prior Lake, MN your new home, there’s a selection of properties available through your local real estate agent. The prices of Prior Lake homes for sale range from $160,000 to $25 million, so whether you’re just starting out or planning to splurge on your dream home, you’ll find one that suits your needs and your budget.
In March 2022, the median listing home price in Lake Prior, MN was $525,000 with a $186 median listing home price per square foot. Properties sold at the median price of $404,000. If trends continue and Prior Lake, MN remains a seller’s market (more people looking to buy than there are properties available), then the process can get competitive. For buyers, this means hitting the ground running and preparing yourself for a possible bidding war on a property you’re eyeing. In this case, look to a local real estate specialist to assist you.
Prior Lake homes for sale are generally diverse and come in varying price points. In Prior Lake, you’ll find:
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Move-in ready condos with updated features and furnishings
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Conveniently located townhomes within highly developed communities
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A diverse array of single-family homes, including ranch-style homes and farmhouses
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Large country estates on acres of land, with some properties boasting heated garages and modern fixtures, with rustic touches resting easily with the latest technology and amenities
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Fixer-uppers for investors or those in the house flipping business
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Lakefront homes
Lakefront homes are some of the most sought-after, given their location and abundance of features. These properties typically span several thousand square feet and are outfitted with the latest features and amenities, such as large patios with a firepit, expansive family rooms with panoramic views, shoreline, a wraparound deck, a gourmet kitchen, vast outdoor entertainment spaces, and more. These lakefront homes can make you feel like you’re on vacation every day.
Benefits of Lakefront Living in Prior Lake, MN
Living in a busy cosmopolitan city is exciting. The fast-paced lifestyle, ever-changing sights and sounds, the diversity of cultures, and the boundless promise of opportunities and things to do are alluring. But live in a city long enough and you’ll realize that excitement comes at a price. Despite its allure, the city can be hectic, cramped, and stressful.
With remote work increasingly becoming an option, people have been looking to move out of cities and moving to places that put a premium on life’s forgotten pleasures like solitude, peace and quiet, and an abundance of green spaces. So, for many, living close to nature has taken top priority in their to-do lists. And who can blame them? When you live near a forest or right in front of a lake, you can experience a wide range of benefits.
Lakefront Living Does Wonders for Your Mental and Physical Well-being
Research has shown that being in nature – even simply viewing scenes of nature – can significantly reduce anger, fear, and stress, and elevate your mood. What’s more, it affects your physical well-being. Studies have attested that being surrounded by nature can lower your blood pressure and heart rate. Nature eases the tension in your muscles and slows down the production of stress hormones. So, if city life has gotten you down and you’re feeling in less than tip-top shape, maybe they’re signs that you need a change of scenery.
If you’re thinking of leaving the city for good, you’ll be delighted to know that Prior Lake, MN is home to more than 55 parks, over 100 miles of trails and sidewalks, and is surrounded by 14 lakes. Clearly, it has more than enough space for you or your family to explore the outdoors and discover a new way of living.
Lakefront Living Can Help You Become More Active
Living close to nature just beckons you to go outside and live. Getting active and spending time outside not only changes your mood from depressed, stressed, and anxious to having a calmer, more balanced, and happier disposition. It also helps you become fitter and physically stronger.
Lakefront Living Connects Us With the Wider World
Studies have shown that being in nature connects us to each other and the bigger world. Some of these studies also noted that people who have trees and green space around their homes are reported to know more people, have stronger feelings of unity with their neighbors, are more concerned with helping and supporting each other, and have stronger feelings of belonging than people who live in homes without trees.
Lakefront Properties Are Excellent Investments
Many people dream of owning waterfront properties and the demand for this type of real estate shows no signs of stopping. And where there’s high demand, there exists tremendous investment opportunities.
In Prior Lake, MN, the demand for lake properties is heightened by several new developments in its downtown area. Current improvements to make Prior Lake an even better place to live can only mean higher asking prices for properties in the near future. Thus, as home values rise, so does the potential for higher resale prices on your property should you purchase one today.
The development of the community also means better rates on rental homes. Turning your property into a rental will enhance your real estate portfolio and yield new revenue streams. You can bet on Prior Lake homes for sale now to see your investment grow in the future.
Things to Consider When Buying a Waterfront Property
If your mind’s set on buying a lakefront property in Prior Lake, MN, here are some things that might help you as you prepare to settle in your dream home.
1. Know the Rules and Regulations
Many waterfront homes are bound by the rules and regulations of their respective communities, not to mention the restrictions of their homeowners’ association. It is best to know what you can and can’t do in the area and pay the necessary fees, if any, to ensure a smooth and problem-free integration in the community.
2. Get Flood Insurance
Living near a body of water makes it susceptible to flooding. Look at incidences of flooding in the area over the past few years. How frequently did they occur? And even if occurrences have been few and far between, factor in the unpredictability of climate change. So, why risk it? A flood insurance will give you some peace of mind knowing that you are covered should anything happen.
3. Know How the Water Level Fluctuates
Doing so is essential especially if you own a boat. You don’t want to purchase a lakefront home only to find out you can’t dock your boat because water levels won’t let you. Don’t forget to do your research to ensure smooth sailing all the way.
4. Be Diligent in Maintaining Your Home and Property
A lakefront home needs a little bit more care and attention. Humid conditions can age your home faster than usual, so give it some extra TLC to keep it looking good at all times. Remember to set aside a budget for roof, deck, dock, and siding maintenance.
5. Know the Extent to Which You Can Remodel Your Home
Some communities have strict guidelines regarding home remodeling because they want to preserve the look and feel of the place. Others are lax in their guidelines. Find out what you can and can’t do to your property beforehand, especially if you have a very specific remodel in mind. Will the community’s guidelines help you fulfill your dreams? Or are you better off finding a different property altogether?
These are just some things to consider when you’re planning on owning a waterfront home. While it requires a bit more attention, a waterfront home will offer you a lot in return in the long run.
Team Up With an Expert in the Prior Lake, MN Real Estate Market
Finding the perfect property among all the incredible Prior Lake homes for sale is easy; sealing the deal may pose a bit more of a challenge, especially with a lot of other buyers who are as motivated as you are. That’s why it helps if you have an experienced local real estate agent on your side to help you navigate the market and get first dibs on any property that has been just listed. With your real estate agent's help, you have access to extensive listings, curated just for you and containing only the properties that fit your criteria, while having someone to advocate for you at every transaction.
Tim Ornell and his team at One Luxe Homes Division, Luxury Real Estate are committed to serving your real estate needs. They are there every step of the way, from the beginning of your property search up to when you finally close the deal. They can help you become acquainted with the area, making you feel like you’ve come home even before you’ve moved in.
Their concierge level of service means that Tim’s strategy is tailored exclusively to your requirements. Trust him to listen to your concerns and expectations. He is on top of the process and can answer questions and handle issues as they arise. Tim’s goal is to keep everything as seamless and fuss-free for you as possible.
Get started on finding your perfect Prior Lake home today by contacting Tim at (651) 263-9480 or you can drop your message here.
