Minnetonka, MN Housing Market
The Minnetonka housing market is very competitive. Homes in Minnetonka receive 8 offers on average and sell in around 21 days. The median sale price of a home in Minnetonka was $470K last month, down 7.0% since last year. The median sale price per square foot in Minnetonka is $208, up 2.2% since last year.
Minnetonka Housing Market Trends
In March 2024, Minnetonka home prices were down 7.0% compared to last year, selling for a median price of $470K. On average, homes in Minnetonka sell after 21 days on the market compared to 22 days last year. There were 45 homes sold in March this year, up from 42 last year.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Minnetonka housing market?
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Many homes get multiple offers, some with waived contingencies.
- The average homes sell for around list price and go pending in around 22 days.
- Hot homescan sell for about 2% above list price and go pending in around 9 days.
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Some homes get multiple offers.
- The average homes sell for about 1% below list price and go pending in around 22 days.
- Hot homescan sell for about 2% above list price and go pending in around 8 days.
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Many homes get multiple offers, some with waived contingencies.
- The average homes sell for about 1% above list price and go pending in around 21 days.
- Hot homescan sell for about 4% above list price and go pending in around 10 days.
Minnetonka Migration & Relocation Trends
- Across the nation, 0.63% of homebuyers searched to move into Minnetonka from outside metros.
- Albuquerque homebuyers searched to move into Minnetonka more than any other metro followed by Miami and Chicago.
- 78% of Minnetonka homebuyers searched to stay within the Minnetonka metropolitan area.
- Brainerd was the most popular destination among Minnetonka homebuyers followed by Cape Coral and Duluth.
Inbound | Net inflow | ||
---|---|---|---|
Metros | Feb '24 - Apr '24 | ||
1 | 511 | ||
2 | 508 | ||
3 | 290 | ||
4 | 242 | ||
5 | 211 | ||
6 | 193 | ||
7 | 192 | ||
8 | 131 | ||
9 | 131 | ||
10 | 121 |
Outbound | Net outflow | ||
---|---|---|---|
Metros | Feb '24 - Apr '24 | ||
1 | 390 | ||
2 | 263 | ||
3 | 228 | ||
4 | 186 | ||
5 | 164 | ||
6 | 121 | ||
7 | 70 | ||
8 | 68 | ||
9 | 62 | ||
10 | 52 |
Home offer insights for Minnetonka
Recent offers
View houses in Minnetonka that sold recently
Recently sold homes
- $310,000 Last Sold Price2 beds2 baths—sq ft5601 Smetana Dr #304, Minnetonka, MN 55343List Price$310,000Sale to List0% over listDays on Market158 days5601 Smetana Dr #304, Minnetonka, MN 55343
- $625,000 Last Sold Price3 beds2 baths—sq ft15410 Skyview Cir W, Minnetonka, MN 55345List Price$575,000Sale to List9% over listDays on Market64 days15410 Skyview Cir W, Minnetonka, MN 55345
- $255,000 Last Sold Price2 beds2 baths—sq ft6018 Covington Ter, Minnetonka, MN 55345List Price$264,900Sale to List4% under listDays on Market34 days6018 Covington Ter, Minnetonka, MN 55345
- $576,500 Last Sold Price3 beds2 baths—sq ft5216 Birch Rd, Minnetonka, MN 55345List Price$550,000Sale to List5% over listDays on Market96 days5216 Birch Rd, Minnetonka, MN 55345
- $615,000 Last Sold Price5 beds3 baths—sq ft4240 Winchester Ct, Minnetonka, MN 55345List Price$585,000Sale to List5% over listDays on Market58 days4240 Winchester Ct, Minnetonka, MN 55345
- $586,500 Last Sold Price4 beds3 baths—sq ft4906 Coventry Rd W, Minnetonka, MN 55345List Price$549,900Sale to List7% over listDays on Market32 days4906 Coventry Rd W, Minnetonka, MN 55345
- $320,000 Last Sold Price3 beds3 baths—sq ft17700 Breconwood Rd, Minnetonka, MN 55391List Price$330,000Sale to List3% under listDays on Market62 days17700 Breconwood Rd, Minnetonka, MN 55391
- $565,000 Last Sold Price3 beds3 baths—sq ft3933 Shady Oak Rd, Minnetonka, MN 55305List Price$525,000Sale to List8% over listDays on Market17 days3933 Shady Oak Rd, Minnetonka, MN 55305
See all recently sold homes in Minnetonka.
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Schools in Minnetonka
- Elementary
- Middle
- High
GreatSchools Rating
10/10 Groveland Elementary School Public • K-5 | 917 Students | 8 reviews |
9/10 Scenic Heights Elementary School Public • K-5 | 901 Students | 11 reviews |
8/10 Park Spanish Immersion Elementary School Public • K-5 | 518 Students | 7 reviews |
8/10 Clear Springs Elementary School Public • K-5 | 863 Students | 17 reviews |
7/10 Glen Lake Elementary School Public • PreK-6 | 454 Students | 12 reviews |
Climate's impact on Minnetonka housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that could impact homes in Minnetonka.
Flood Factor - Moderate
Flood Factor
Fire Factor - Moderate
Fire Factor
Wind Factor - Minimal
Wind Factor
Heat Factor - Minor
Heat Factor
Transportation in Minnetonka
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