Wayzata continues to stand apart as one of the Twin Cities’ most desirable luxury markets — and 2025 data reinforces that reputation. While the market has evolved over the past three years, the story is about normalization, discernment, and value holding strong.
A Look at the Numbers (2023–2025)
New Listings
Inventory has steadily increased, giving buyers more options than they’ve had in several years. This is a meaningful shift from the ultra-tight conditions of 2021–2023 and signals a more balanced market environment.
Closed Sales
Despite more homes coming to market, sales activity also rose in 2025. This tells us demand remains intact — buyers are still purchasing, with higher standards and more intention.
Median Days on Market
Homes are taking longer to sell, which is one of the most noticeable changes this year. Rather than indicating a slowdown, this reflects a more selective buyer pool. Properties that are overpriced, poorly prepared, or misaligned with buyer expectations are sitting longer, while well-positioned homes continue to move.
Median Sales Price
After a modest dip in 2024, median prices rebounded in 2025, reaching the highest level of the past three years. This underscores Wayzata’s resilience and long-term value, even amid broader market shifts.
Price Per Square Foot
Price per square foot jumped significantly in 2025, reinforcing that buyers are paying premiums for quality, location, and well-executed homes.
What This Means for Wayzata Homeowners
For owners, the takeaway is encouraging: values remain strong and the future is bright, but we are now seeing that success hinges more than ever on strategy. Today’s buyers are informed and patient. Homes that are thoughtfully priced, properly prepared, and professionally marketed are still commanding top dollar — while others may experience longer timelines or price adjustments.
If you’re considering selling, 2026 is not about testing the market; it’s about entering it correctly.
What This Means for Buyers
For buyers, increased inventory and longer days on market create opportunity. You may have more room to negotiate than in prior years, especially on homes that aren’t perfectly aligned with current buyer preferences. However, competition remains real for turnkey properties in prime locations — especially those near the lake, downtown Wayzata, or with standout design and condition.
A Local Perspective
As both a Wayzata resident and real estate advisor, I don’t just analyze this market — I live in it. These trends reflect what I see every day on our streets and in conversations with neighbors: Wayzata remains deeply desirable, but today’s market rewards intention, preparation, and local insight.
If you’re curious how these trends apply to your specific home or buying goals, I’m always happy to share a more personalized perspective.
— Lynn Burn
Wayzata Resident & Real Estate Advisor
612-803-0912
