Is Wayzata, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Wayzata was a Seller's Market.
Key Takeaway
Wayzata is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Wayzata, MN
How much do homes in Wayzata, MN cost?
Median Sold Price
$975,000
$321/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Wayzata have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in Wayzata was $975,000 in March 2024, up 9.6% from last year, and the median price per square foot was $321.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $247.5K | $243K | -1.8% |
| 2 Bedrooms | $615K | $500K | -18.7% |
| 3 Bedrooms | $645K | $787.5K | +22.1% |
| 4 Bedrooms | $845K | $1.0M | +22.8% |
| 5+ Bedrooms | $1.4M | $1.7M | +22.9% |
Summary: Wayzata housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.8%, 2 bedroom homes decreased by 18.7%, 3 bedroom homes increased by 22.1%, 4 bedroom homes increased by 22.8%, and 5+ bedroom homes increased by 22.9%.
Median Sold Price Compared To Nearby Cities
| Wayzata | $890K | $975K | +9.6% |
| Shorewood | $700K | $749K | +7.0% |
| Plymouth | $459.2K | $485.5K | +5.7% |
| Minnetonka | $457.7K | $465.2K | +1.6% |
| Orono | $1.1M | $1.0M | -7.9% |
Housing Supply in Wayzata, MN
How many homes are available in Wayzata, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 95 | 112 | +17.9% |
Summary: The Wayzata real estate market had 112 homes for sale in March 2024, a 17.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 15 | 16 | +6.7% |
| 3 Bedrooms | 19 | 20 | +5.3% |
| 4 Bedrooms | 26 | 32 | +23.1% |
| 5+ Bedrooms | 32 | 43 | +34.4% |
Summary: The Wayzata housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 34.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 12 | -20.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wayzata, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Wayzata in March 2024, down by 20.0% month-over-month. Of the 12 sold homes, 58% were sold under asking, 17% were sold at asking, and 25% were sold over asking.
Days on Market for Wayzata, MN
How long does it take to sell a home in Wayzata, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 45 Days | 44 Days | -3.0% |
Summary: Homes in Wayzata had an average of 44 days on market in Mar 2024, down by 3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wayzata are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 12 homes were sold in Wayzata; 67% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
