7 Twin Cities Communities Where Luxury Buyers Are Moving Now
Here’s what nobody tells you about luxury real estate in the Twin Cities: it’s not about historic addresses anymore. Buyers spending $800,000 to $2 million are choosing space, privacy and lifestyle over legacy and prestige. Here are seven communities where modern luxury buyers are actually moving, and the trade-off in each.
Prices are as of my video above (March 2026).
1. Wayzata: social, lakefront luxury
On the north shore of Lake Minnetonka, about 15 to 20 minutes west of downtown Minneapolis, Wayzata offers lake access and an upscale, walkable village along Lake Street, with public docks, private marinas, lakeside dining and boutiques. Even without waterfront, residents can use the lakefront parks and public docks. Trails connect to the regional system for commuters and remote workers.
Median around $1.3 million. Best for buyers who want the Lake Minnetonka lifestyle and a social scene. Trade-off: it’s social and visible, so if you want seclusion, this isn’t it. More in why it’s nearly impossible to move to Wayzata.
2. Chanhassen: luxury without the show
Chanhassen, in Carver County, offers comfortable upper-end suburbia: lots of new construction, cul-de-sacs and green space, with easy access to job centers in Eden Prairie, Bloomington and Minneapolis. Extensive trails, plus Lake Ann and Lake Susan parks with beaches, wooded paths and paddling, and Southwest Metro shopping nearby.
Median around $600,000, with premium new construction into the low $800,000s. Best for buyers balancing luxury with everyday function. Trade-off: it’s practical, not ultra-private or high-profile.
3. Credit River: space and privacy
Credit River became a city in 2021 to preserve its rural character as nearby suburbs grew. Expect wooded estate lots, long driveways, custom homes and room for outbuildings, horses and hobby farms, while staying within commuting range. Residents shop and dine in nearby Prior Lake, Savage and Lakeville; home is a retreat, not a hub.
Median around the low $900,000s. Best for buyers who want space, separation and outdoor hobbies like horses or ATVs. Trade-off: you’ll need a car for almost everything.
4. Summit Avenue, Saint Paul: refined and historic
Saint Paul’s Summit Avenue runs from near the Mississippi River bluffs toward downtown, lined with large historic homes, mature trees and sidewalks. You’re near the Mississippi River Boulevard trails, minutes from downtown Saint Paul’s theaters, museums and restaurants, and close to the University of St. Thomas and Macalester College.
Upper $700,000s to over $1.5 million, with renovated homes on the best blocks reaching the mid-$1 millions or more. Best for buyers who value architecture, history and central living. Trade-off: it’s about personal taste, not lake status.
5. Prior Lake: lakefront lifestyle for less
In Prior Lake, lake access is woven into neighborhoods, not gated: public beaches, fishing piers and boat launches on Upper and Lower Prior Lake and nearby lakes. Life revolves around boating, fishing, snowmobiling and community events, including the Lakefront Music Festival at Lakefront Park.
Everyday homes in the low $400,000s to high $500,000s, with modern lakefront and custom builds topping $1 million. Best for buyers who value lifestyle over status: lake life at a fraction of Lake Minnetonka prices.
6. Maple Grove: turnkey luxury and convenience
Maple Grove is polished and master-planned, with established neighborhoods, new subdivisions and a big commercial core for shopping, dining and medical care. The city keeps investing in roads, utilities and public spaces. Amenities include the Maple Grove Community Center (with a new third sheet of ice), Town Green, Central Park and the Arbor Lakes shopping district, all within about 10 minutes.
Typical homes in the high $400,000s, with higher-end and new construction from the high $500,000s to low $700,000s. Trade-off: it’s comfortable and convenient, not exclusive or rural.
7. Excelsior: walkable village on the lake
Excelsior is a compact, one-square-mile city on Lake Minnetonka’s south shore, with historic storefronts, restaurants and boutiques by the water, and a mix of older homes, updated cottages and newer infill. The Commons, a 13-acre public lakefront park, has swimming beaches, playgrounds, tennis courts, ball fields, a bandshell and docks, so you get lake access without owning lakefront. The port hosts excursion boats, and the Fourth of July celebration ends with fireworks over the lake.
Around the mid-$800,000s. Best for buyers who want Lake Minnetonka proximity without Wayzata’s pressure. Trade-off: it’s compact, with no acreage or big estates, and everybody knows everybody.
The pattern
Across these seven, newer or substantially updated homes with practical layouts and modern systems are winning over purely historic homes for many high-income buyers, especially relocators. Today’s luxury decisions come down to commute, privacy and convenience versus space. Serious about one of these markets? Email our team for a breakdown of what’s available in your price range. Also see our lake homes page.
