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Featured local agent — Minnetonka, MN
Sarah Mitchell
Compass Real Estate · Minnetonka, MN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Minnetonka, MN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$507,000median sale price
How is the Minnetonka, MN housing market right now?
The median home sale price in Minnetonka, MN is $507,000, down 4.5% year-over-year. Homes sell in an average of 15 days with 156 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Minnetonka a buyer's or seller's market?
Minnetonka, MN is currently a seller's market, based on 2.4 months of supply and homes selling in about 15 days. How we determine this →
Homes sold
66
Last 12 weeks
Days on market
15
Fast-moving
Active listings
156
2.4 months supply
Sale-to-list
100.4%
Above asking
What does the Minnetonka housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $507,000 |
| Median list price | $520,950 |
| Year-over-year price change | -4.5% |
| Average days on market | 15 days |
| Active inventory | 156 listings |
| Months of supply | 2.4 months |
| Sale-to-list price ratio | 100.4% |
| Median price per sq ft | $232/sq ft |
| Homes sold (latest month) | 66 |
| New listings (latest month) | 115 |
| Listings with a price cut | 34.6% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Minnetonka by property type?
How the Minnetonka, MN market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $625,000 | $251/sq ft | 41 | 12 days |
| Condo / Co-op | $245,000 | $203/sq ft | 13 | 38 days |
| Townhouse | $374,352 | $193/sq ft | 12 | 21 days |
Source: Redfin · Updated monthly
The Minnetonka housing market is currently classified as a seller's market with a median sale price of $507,000. Prices have fallen 4.5% compared to last year, with homes spending an average of 15 days on market, indicating 2.4 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.1x provides context for how home values compare to local earning capacity.
Homes for sale in Minnetonka
There are currently 156 homes listed for sale in Minnetonka, Minnesota. The median listing price is $521K.
Active listings
156
Homes on market
Median list price
$521K
Avg. days on market
15
Days until sale
New this week
115
Newly listed
Who lives in Minnetonka?
Population
53,256
Median income
$120,496/yr
Median age
42.8 years
Owner-occupied
72.5%
College grads
63.3%
Avg commute
20.1 min
Source: U.S. Census Bureau ACS
What are homes worth in Minnetonka?
Zillow home value
$496,328
Zillow rent index
$1,857/mo
Price-to-rent ratio
22.3x
Price-to-income
4.1x
Source: Zillow Research
What is it like to live in Minnetonka?
Minnetonka is a community of approximately 53K residents with a median age of 42.8 years.The median household income is $120,496, which reflects a relatively affluent area with strong earning potential. 63.3% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 72.5%, reflecting strong community stability and long-term resident commitment. The average commute time is 20.1 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Minnetonka offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Minnetonka?
25 schools tracked · 14,123 students
The largest public schools serving Minnetonka, MN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
MINNETONKA SENIOR HIGH
Grades 9-12 · 3,482 students
HOPKINS SENIOR HIGH
Grades 9-12 · 1,991 students
MINNETONKA EAST MIDDLE
Grades 6-8 · 1,307 students
SCENIC HEIGHTS ELEMENTARY
Grades K-5 · 928 students
GROVELAND ELEMENTARY
Grades K-5 · 910 students
CLEAR SPRINGS ELEMENTARY
Grades K-5 · 866 students
Hopkins North Middle School
Grades 6-8 · 847 students
EAGLE RIDGE ACADEMY LOWER SCHOOL
Grades K-5 · 826 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Minnetonka, MN?
Want a head-to-head view? Compare Minnetonka side-by-side with any other U.S. city using our market-comparison tool.
Is Minnetonka a good real estate investment market?
For investors evaluating Minnetonka, the price-to-rent ratio of 22.3x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 4.5% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Minnetonka's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Minnetonka's median home price.
Frequently asked questions
What is the average home price in Minnetonka?
The median home sale price in Minnetonka is $507,000, down 4.5% from last year.
How long do homes stay on market in Minnetonka?
Homes typically spend 15 days on market before going under contract.
What is the median income in Minnetonka?
The median household income is $120,496 per year.
Is Minnetonka a buyer's or seller's market?
With 2.4 months of supply, Minnetonka is currently a seller's market.
What is the Zillow home value estimate for Minnetonka?
The Zillow Home Value Index (ZHVI) for Minnetonka is $496,328, representing the typical home value in the area.
What is the median condo price in Minnetonka?
The median condo/co-op sale price in Minnetonka, MN is $245,000, compared to $625,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Minnetonka?
The median single-family home price in Minnetonka, MN is $625,000 (about $251 per square foot).
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