Is Wayzata, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wayzata is a buyer's market

Buyer's
Market

Difference Since September 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

$1,000,167

$336/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$7,667(+0.8%)

Key Takeaway

Homes in Wayzata have sold for 0.8% more than they did a year ago.

Summary: The median home sold price in Wayzata was $1,000,167 in September 2024, up 0.8% from last year, and the median price per square foot was $336.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $249.7K$330K
+32.1%
2 $522K$632.5K
+21.2%
3 $720K$768K
+6.7%
4 $1.0M$1.2M
+21.4%
5+ $1.7M$1.6M
-5.1%

Summary: Wayzata housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 32.1%, 2 bedroom homes increased by 21.2%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes decreased by 5.1%.

Median Sold Price Compared To Nearby Cities

Minnetonka
+9.7%
Plymouth
+5.3%
Wayzata
+0.8%
Orono
-7.5%
Shorewood
-13.5%

Housing Supply in Wayzata, MN

How many homes are available in Wayzata, MN?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
131138+5.3%

Summary: The Wayzata real estate market had 138 homes for sale in September 2024, a 5.3% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 21
-50.0%
2 1922
+15.8%
3 3031
+3.3%
4 3935
-10.3%
5+ 4149
+19.5%

Summary: The Wayzata housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 15.8%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 10.3%, and 5+ bedroom homes increased by 19.5%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
3118-41.9%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wayzata, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Wayzata in September 2024, down by 41.9% month-over-month. Of the 18 sold homes, 78% were sold under asking, 17% were sold at asking, and 6% 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

Sep 2023Sep 2024CHANGE
32 Days39 Days+22.4%

Summary: Homes in Wayzata had an average of 39 days on market in Sep 2024, up by 22.4% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Wayzata are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 18 homes were sold in Wayzata; 61% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 8 Days Ago

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