Wayzata is a small, upscale, lakeside town located in Minnesota, with a population of close to 4,500. For the most part, the majority of residents own their homes in Wayzata.
The Wayzata, Minnesota Real Estate Market is growing fast. According to Redfin, in Wayzata, the current median sales price is $815,000, which is a 23.5% increase over 2020. Condo sales are flourishing in Wayzata. Specifically, eight of the top 10 condo transactions took place in Wayzata. The top transaction going for $2.97 million.
While it is mostly primarily residential, the city of Wayzata also has several retail areas and office buildings. Specifically, Wayzata’s strip malls and the commercial district have nearly everything, including unique gift shops, clothing stores, jewelry stores, antique shops, and many dining options.
The median family income in Wayzata, Minnesota, is $82,032, according to Livability.com. The surrounding county’s median household income is $70,029 compared to the national median of $57,525.
In February 2021, the average home sales price in Wayzata was $1,211,034, which is much higher than most cities in the state. If luxury is what you’re looking for, you’ll choose from homes that go up to the millions and square footage to allow entertaining the entire neighborhood with room to spare.
On average, homes in Wayzata, MN, sell roughly 67-113 days on the market. Historically, Wayzata has a low vacancy rate compared with the rest of the state. As of January 2021, Wayzata, MN, can be categorized as a seller’s market. This means that more individuals and families are looking to purchase homes than those available in the area. This is true even amid the global health pandemic.
If you’re looking to sell or buy a condo, a townhome or a single-family home in Wayzata or the surrounding areas, please feel free to contact RE/MAX Results – Shannon Lindstrom, Realtor @ 612-616-9714 or visit www.ShannonLindstromRealtor.com today!