Welcome to Minnetonka!
Minnetonka is an affluent suburb located just 8 miles west of Minneapolis in Hennepin County. This relatively small city hosts a broad range of living options, ranging from traditional log cabins all the way up to contemporary lakefront mansions.
Minnetonka is a small city with a population count of 49,734 inhabitants at the time of the 2010 US Census. With a total area covering just 28 square miles, the low density of construction makes Real Estate exclusive and attractive, and allows space for the raw natural beauty of the region to bring the city to life.
Of the total 28 square miles, just under 1.3 square miles of Minnetonka is water. The eastern tip encompasses part of Lake Minnetonka: one of the largest lakes in Minnesota. Minnetonka covers a huge portion of the lake shoreline, with many homes located directly on the waterfront or boasting effortless lake access.
The outlets from Lake Minnetonka winds down to the Mississippi River, just south of Minneapolis, through a series of beautiful creeks, waterfalls, and rivers which create a home life filled with spectacular surrounding nature which is effortlessly accessible.
Minnetonka Real Estate
The simplicity of access to Minneapolis coupled with the relaxation of a natural home life has made Minnetonka one of the most locally desirable areas for families.
A lot of Minnetonka Real Estate is contemporary in terms of design and construction. Although the region offers a number of traditional-style family homes, there are a significant number of high-end family homes which are finished to exceptional standards of interior design.
The vast majority of homes for sale in Minnetonka are single-family homes, which generally fit into three categories:
- Single-story, 3 or 4 bedrooms, 2,000 – 3,000 square feet, starting from around $300,000.
- Executive family homes, 4 or 5 bedrooms, 3,000 – 5,000 square feet, starting from around $450,000.
- Lakefront and countryside mansions, over 6,000 square feet, prices in the $1,000,000’s.
Although Minnetonka offers no apartment buildings, there are a few reasonably priced condos which offer ample-sized floor plans with one, two, or three bedrooms. Minnetonka also has a number of modern townhome communities.
Finally, for those dreaming of constructing their own perfect home, Minnetonka has many lots of land for sale, available with varying sizes, at different price points, and enjoying marked topography.
Minnetonka Real Estate Market Data
Anyone who bought or sold a house in Minnetonka recently will need no introduction to the competitive nature of our local Real Estate market. Data taken from June 2017 by Minneapolis Area Association of Realtors shows us locals what we already know – the market is hot for both buyers and sellers.
Taking a look at the year-to-date data for June 2017, we can see that the value of Real Estate is increasing in Minnetonka:
- Median Sales Price has increased from $305,000 to $340,000 (by 11.5%).
- Price Per Square Foot has increased from $147 to $160 (by 8.8%).
We can also see the marketing becoming increasingly competitive:
- A 10.3% drop in New Listings.
- A 26.1% drop in the Number of Days on the Market.
- A strong 98% of homes selling for their Original List Price.
Considering these trends in data, now might be the perfect time to purchase Minnetonka property as a sound investment for the future. Likewise, residents of Minnetonka might consider capitalizing on the increased valuation of their Real Estate, and selling their home for significant capital gains.
Minnetonka encompasses three independent school districts, which have a number of highly-rated schools for all age groups. The three school districts are:
- Hopkins School District – Central and Eastern Minnetonka.
- Minnetonka School District – Western and Northern Minnetonka.
- Wayzata School District – Souther Minnetonka.
The Minnetonka School Districts host some of the highest achieving schools in the state, with a range of excellent educational institutions for children of all ages. Each of the Minnetonka schools listed below achieves a 10/10 rating on www.greatschools.org.
- Groveland Elementary School
- Clear Springs Elementary School
- Minnetonka East Middle School
- Minnetonka Senior High School
- East Ridge Academy Charter School
The name “Minnetonka” derives from the Dakota Indian name “Minn-ni-tanka” meaning “great water”. The Native Americans believed the land around Lake Minnetonka was of great importance. It is thought to be the location of an ancient race of people known as the “mound builders”, who were thought to inhabit much of Midwest America between 3500 BC and 1500 AD.
Minnetonka grew from a classic American rural childhood, establishing itself in its farming roots during the mid-19th Century. As industrialization took hold of the region, the area thrived due to mill production of Minnetonka farming goods creating a mass scale of saleable produce.
Minnetonka evolved from farmland – through industrialization – to arrive where we are today, as a suburban residence surrounded by delightful and abundant areas of nature. It is widely regarded as one of the most pleasant suburban areas in the state, with a relaxed home life which boasts effortless access to Minneapolis.
Things to do in Minnetonka
The abundant countryside of low-density Minnetonka provides plenty of space for raw nature to establish its beauty. Minnetonka offers an easily-accessible outdoors lifestyle, with amazing hiking/cycling trails and relaxing boating & fishing opportunities.
The City of Minnetonka hosts a wide range of cultural and modern entertainment options, with plenty of interesting things to do for all the family. The city has a good variety of shopping and dining options, and offers access to a number of spas and family entertainment centers.
Employment in Minnetonka
Minnetonka is the home to a number of large privately- and publically-owned companies. The largest employers based in Minnetonka are UnitedHealth Group, Cargill, and Emerson Process Management, with health care as the most prominent industry.
Potentially relocating to Minnetonka is an affordable and realistic opportunity due to the closeness to a major metropolitan city. Those interested in exploring the possibilities for a new life in Minnetonka are invited to browse the range of Minnetonka Real Estate currently available or contact the office for further information.