It’s Finally Become Impossible to Move to Wayzata, MN
About this video
Wayzata, Minnesota has officially become the most exclusive market in the state — and getting in is harder than ever. With a median price per square foot of $525, a $50 million active listing on Lake Minnetonka, and barely any homes available, this Twin Cities suburb is in a league of its own.
Key takeaways
- Wayzata, on Lake Minnetonka, has the highest price per square foot in Minnesota: about $525 in ZIP code 55391, according to the video. The median listing price was in the upper $1 millions, with new listings near $2 million.
- The Lake Point Estate was listed at $50 million (about 29,000 square feet on 8 acres with about 650 feet of shoreline), the most expensive listing in Minnesota history. An $8.9 million sale closed the year before.
- Only about 35 single-family homes were for sale at the time, and many high-end homes sell off-market.
- Lake Minnetonka covers about 14,500 acres with about 125 miles of shoreline. Wayzata was platted in 1854 and the railroad arrived in 1867.
- Life in town: the 17-mile Dakota Rail Trail, James J. Hill Days (51 years, about 80,000 guests) and the Chilly Open ice golf tournament on the frozen lake.
- Entry points: condos and townhomes from the high $800,000s to over $1 million, or nearby Deephaven, Orono and Minnetonka Beach.
- Metro supply was about 2.4 months, and luxury sales rose about 22% in 2025, as stated in the video.
Questions this video answers
What is the most expensive city in Minnesota?
By price per square foot, Wayzata: about $525 in ZIP code 55391, according to the video, with a median listing price in the upper $1 millions.
What is the most expensive home ever listed in Minnesota?
The Lake Point Estate on Lake Minnetonka, listed at $50 million, with about 29,000 square feet on 8 acres and about 650 feet of shoreline.
Read more: Wayzata market report · Orono vs. Wayzata · Deephaven vs. Wayzata · Lake Minnetonka homes
Notes written by Huerkamp Home Group from this video. Figures are as stated in the video on May 5, 2026; check the current numbers in our market reports.
