The City of Wayzata is a very small niche market when taken apart from the larger Lake Minnetonka district.  New listings are down year to date 8.8% to just 156 new listings taken during 2008.  However, there have been just 49 closed sales in 2008, down 31.9%.  The average sale price is up just 0.7% over 2007 to $734,893.  The percent of original list price received at sale was was 88.8% after an average 157 days on market.  There are currently 44 single family homes on the market, up 51.7% from 2007 levels and just 20 townhomes or condos, up 17.6% from a year ago.

The above figures are courtesy of the Minneapolis Area Association of Realtors based on information from the Regional Multiple Listing Service of Minnesota, Inc. for 2008 thru 12/31/2008.


ZIP Code: 55391

Approximate Location Boundaries: Orono and Long Lake to the west, Plymouth to the north, Minnetonka to the east and Woodland and Deephaven across Wayzata and Grays bays to the South.

Location Characteristics: Wayzata is a charming and upscale community on the northeast shore on Lake Minnetonka and has a public beach and boat and yacht slips for rent. You won't find the usual assortment of chain retailers and restaurants here, but you will find a delightful collection of locally owned and operated boutiques, excellent restaurants and a lively business district with emphasis on financial services, art, antiques and real estate. Wayzata is served by the #284 Wayzata Public Schools. Private school offerings include St. Bartholomew Catholic, The Blake School Highcroft Campus and Redemer Lutheran.  During the summer months, an old fashioned trolly transports shoppers around the downtown area.  Wayzata has a population of about 3,922 with a median age of 46.7.