Lake Minnetonka is located about 15 miles west of Minneapolis. The 10th largest lake in Minnesota, it is spread out over 14,004 acres, with 125 miles of coast. That gives a lot of room for boating, swimming, and fishing. It also gives a lot of room for communities to spread out, and most of them maintain a “small-town feel” (although they do have big city real estate prices!)
So let’s talk about Lake Minnetonka real estate. Communities surrounding the south of Lake Minnetonka are from west to east, Shorewood, Greenwood (with the city of Minnetonka behind it), Deephaven and Woodland. To the north of the lake are, from west to east, Orono, Crystal Bay and Wayzata.
Lake Minnetonka is divided into a few bays. Wayzata and Woodland surrounds Wayzata Bay. Shorewood lines the shore of Gideon Bay. Crystal Bay is west of Crystal Bay, and Smith’s Bay is to the east.
Lake Minnetonka real estate is more expensive the closer to the lake shore one gets.
The east end of Lake Minnetonka has, on average, the most expensive real estate available. This is because of the neighbors – famous musicians (like Prince), professional athletes (a few of the Twins), and many prominent Twin Cities businesspeople live in this area. The geography also has something to do with it – this end is the closest to Minneapolis. And the fishing is reputed to be better at this end of the lake as well!
Homes right on Lake Minnetonka run the gamut, from “McMansions” to historic homes built by noted architects, some that are over a hundred years old. Indeed, there’s are boat tours around the lake that focus on giving the history of some of these more storied homes.
There are many real estate agents that handle the sale of homes in the Lake Minnetonka area. Most of these agents have an overarching company with a website that features photos and descriptions of each and every home for sale. And of course a few home owners offer their property for sale themselves. Although the Lake Minnetonka housing market has not been as severely effected by the mortgage crisis as many other cities, there are some houses in foreclosure that may be purchased.
Shore frontproperty, or property relatively near the shore front, will always be in demand and retain its value. Well…one must not say always. But practically always!
Tags: Deephaven MN, excelsior, Lake Minnetonka Real Estate Market Update, lake shore, Wayzata, wayzata bay, Woodland
