Minnetonka Real Estate Market Report: August 2024
In August 2024, the median sale price in Minnetonka was $604,950.
- Median Sales Price
- $604,950
- No prior comparison
- Homes for Sale
- 161
- No prior comparison
- Months Supply
- 2.8
- No prior comparison
- Seller's market
- Days on Market
- 41
- No prior comparison
- Closed Sales
- 63
- No prior comparison
- Percent of Original List Received
- 97%
- No prior comparison
What this means
The median sale price is currently $604,950.
Homes are averaging 41 days on market, and sellers are receiving 97% of their original asking price.
The area is currently a seller's market with 2.8 months of supply. There are currently 161 homes for sale.
In this seller's market, buyers should be prepared to act quickly, while sellers can generally expect strong interest if priced correctly.
Common questions about the Minnetonka market
Is Minnetonka a buyer's or seller's market?
Minnetonka was a seller's market in August 2024, with 2.8 months of supply. Under about 3 months generally favors sellers, 3 to 6 months is considered balanced, and over 6 months favors buyers. There were 161 homes for sale.
How fast are homes selling in Minnetonka?
Homes that sold in August 2024 spent an average of 41 days on market. Sellers received 97% of their original list price on average.
Market trends in Minnetonka
| Month | Median sale price | Closed sales | Days on market | Months supply |
|---|---|---|---|---|
| August 2024 | $604,950 | 63 | 41 | 2.8 |
How Minnetonka compares with the Twin Cities region
In August 2024, the median sale price in Twin Cities (16-County Region) was $389,000.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published August 24, 2026.
Report published .
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