Wayzata MN Real Estate Market

Twin Cities Model Million Dollar Homes

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.

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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.  

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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!

The Advantages of Living in Wayzata, Minnesota

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Wayzata, Minnesota (pronounced wy-zeta) is a small upscale, water-inspired community located in Hennepin County, with a population of roughly 4,500. It is the perfect community for those of you who enjoy dining, shopping, and clean living. It is considered one of numerous best places to live in Minnesota, with www.Niche.com giving Wayzata an overall “A” ranking. The community is also popular for working professionals, singles, families, seniors and retirees.

Below are a few advantages of living in Wayzata, Minnesota.

  1. Playful City. Wayzata, Minnesota, is a very friendly, playful community. Notably, the area has several opportunities for single individuals & families who enjoy recreational activities. In fact, the area has consistently ranked as one of America’s most playful cities by www.bestplaces.net/city/minnesota/wayzata.
  • Strong Economy & Employment Opportunities. Wayzata, Minnesota residents, enjoy an unemployment rate that is Notably lower than the national average. Residents of Wayzata make an average of a little over 60,000 a year. Which is also higher than the national average.
  • Highly-rated schools.  The Wayzata, MN school district offers its students quality programs and good preparation for colleges and universities. Notably, Wayzata spends more on education per child ($14,030) than the national average ($12,383). Additionally, the test scores consistently rank higher than the national average or even amongst the state. Private schools, as well as highly-ranked colleges and universities, are also readily available in Wayzata.
  • Nature & Leisure Activities. Living in Wayzata will afford you an unmatched and exquisite lifestyle. This area offers lake living with an urban but small community feel. Through the majority of the year, residents enjoy strolling around Wayzata Bay or sailing on the lake. Similarly, there are several beaches and parks in the area, as well as walking and biking trails. The downtown areas host several festivals year-round. Lastly, during the winter months, residents can enjoy ice fishing or skiing.

Overall, Wayzata is a gem in Minnesota and a friendly and safe place to call home. It is a welcoming blend of historic waterfront and charming boutiques, excellent schools, and a growing job market.

Residents and tourists alike enjoy Lake Minnetonka year-round. Being that it’s only a 15-minute drive away from Minneapolis, the city enjoys the best of small-town living but the convenience of being close to a big city. With so much going on in and near the city of Wayzata, you will never get tired of living here.

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