The most expensive homes in Minneapolis are on the market now. So if you’re looking to relocate, downsize or upsize, now is a great time to buy and sell your home. Find out why living in the Minneapolis area is such a great idea with this article! We’ll discuss how real estate prices in Minnesota are doing and give an overview of recent trends for the most expensive homes for sale in Minneapolis. These luxury residences are a good indication of what’s happening with most properties throughout Minnesota.
Overview of the Minneapolis Real Estate Market
Minneapolis is one of the most popular cities to live in if you love a combination of city life and suburbs. The Minneapolis real estate market is currently very strong, and the luxury real estate market is a good indication of how the general market looks.
The average property value in Minneapolis increased by 9.3% from $301,000 to $329,000 over just one year. This was fueled by an increase in demand for housing as well as a lower inventory of homes on the market. As a result, the median list price per square foot has also gone up to $219, which is not too far off from some U.S. cities such as Nashville and Chicago.
Minneapolis offers many different neighborhoods with various amenities, including picturesque lakefront properties – so there are more affordable options available here than in other cities.
The Minneapolis real estate market is a safe place to invest in housing if you don’t mind sacrificing some of your amenities. Still, it does offer many of the same luxuries as larger cities such as Houston and Seattle, with lower average prices per square foot.
Real Estate Prices in Minnesota
The typical property value of homes in Minnesota reached $305,474, which means Minnesota home values have gone up 12.9% over the past year.
The reason home prices in Minnesota are on the rise, and it’s because of the increased demand for living in the state due to its economic climate. The average homes sell for about 4% above the list price and go pending in around 12 days. And the most competitive homes can sell for about 9% above the list price and go pending in around 6 days.
Even the current sale-to-list price is 103.5%, 2.1% higher than a year ago.
Although we’re approaching the slower time of year to buy and sell real estate, prices are expected to continue to increase this year as well.
Selling during this height in the market can prove to be prosperous for homeowners, especially those located in trendy neighborhoods, with little to no repairs required to the home. So whether you’d like to sell your house and move out of state or would like to relocate to another area, right now is a great time to sell.
Buying a house in Minneapolis, though, may include its challenges since the market is so competitive. So you’ll just want to be prepared to act quickly and be pre-approved to make an offer.
Below, we’ll look at the ten most expensive homes for sale in Minnesota, which gives a good indication of the current real estate market.
The Most Expensive Home Sales in Minnesota
Below we take a look at the ten most expensive homes for sale in Minnesota. If you’re interested in purchasing a luxury home, these are currently available to own.
- 5570 Maple Heights Rd, Greenwood, MN 55331 | Price: $15,000,000
This one-of-a-kind estate, constructed on a 1.37-acre private island encompassed by over 1150 sq ft of lake frontage and spectacular panoramic views of St. Alban’s Bay on Lake Minnetonka, is unlike anything you’ll find in the Minneapolis/Saint Paul area! This sprawling 13,949 sq ft home comes with 5 bedrooms and 9 bathrooms. In addition, the architecturally stunning home features MN’s largest residential glass-enclosed atriums, 4 stories, an elevator, 12-person movie theater, bar lounge, double wine rooms, a cigar & poker room, indoor grotto, full gym, locker room, sauna, relaxation room. The outside area includes a custom-designed pool with a hot tub and a gazebo overlooking the water.
- 36463 Butternut Point Rd, Pequot Lakes, MN 56472 | Price: $12,000,000
Gorgeous Whitefish Lake Estate with 2000 Feet of Shoreline and incredible views. You’ll never find a closer to the water, more well-kept home on this lake. The 3.17 acres is perfect for you and your family’s privacy needs. Whether it be entertaining friends or just relaxing by the fire, there’s something here for everyone. With 12 bedrooms and 22 bathrooms to choose from, a main house, and six detached log guest houses, bunk room, and 1-bedroom guest suites, there will always be space for all of your guests and family members!
- 2515 Cedar Point Dr, Wayzata, MN 55391 | Price: $9,950,000
The perfect blend of Cape Cod architecture with an open floor plan to maximize modern living. Be captivated by the oversized windows that flood the home with natural light and panoramic lake views of Wayzata Bay from each room. Enjoy the beauty of this private estate on two acres that also features an attached guest house with a separate entrance to accommodate short or long-term guests. The home is 8,842 sq ft with 5 bedrooms and 8 bathrooms in total.
- 3350 Fox St, Long Lake, MN 55356 | Price: $9,499,000
This world-class home with an unobstructed view of Maxwell Bay is a private, serene oasis. This estate features unmatched elegance and luxury in every detail. Offering 5-bedrooms and 8-bathrooms, the home sprawls over 15,858 sq ft. The home’s palatial master suite offers a terrace overlooking the bay and spectacular views from almost every angle—a spa-like bathroom with a fireplace. Outside you’ll find a resort-style pool setting with a large outdoor entertainment area for your next party or gathering. This home has everything you are looking for–unparalleled quality, design, and amenities to make it one of the most luxurious estates on Maxwell Bay.
- 2303 Huntington Point Rd E, Wayzata, MN 55391 | Price: $7,999,000
This home is one of a kind! The beautiful architecture and exterior that is right on the lake with views of the water. It has 7,894 sq ft and 4 bedrooms, 6 bathrooms, which includes a walk-in pantry in the main floor owner’s suite with a spa-like bath. This house also has an office space and den on the main floor, leading to a front porch overlooking the tranquil property. As you go up to the second floor, there are guest bedrooms, a workout room with a sauna, an office, and an expansive bonus room with built-ins overlooking lakeside view!
- 835 Hunt Farm Rd, Orono, MN 55356 | Price: $7,495,000
Huntington Manor, located in the coveted Orono countryside and a design-build collaboration between famed architect James McNeal and luxury home builder Luke Busker. This exceptional residence features architectural elements constructed with limestone steel white oak harvested on-site nestled on 3.37 private acres adjacent to 60+ acres of protected land. Step inside to reveal striking interior designs such as an elegant dining room that opens up onto arched stone terrace for unobstructed sunset views framed by walls of windows, or peek into your own personal garden retreat where we invite you to enjoy soaks under starry night skies while soaking in heated spa sunken tubs before retreating back indoors; all just footsteps from your new kitchen complete with soapstone countertops professional-grade appliances. The grand, spiral staircase leads to the luxurious upper-level owner’s suite with sweeping views. This beautifully designed space features a fireplace and two junior en suites that are also located on this level. The lower floor is ideal for entertaining friends or hosting events, as it boasts an arched stone fireplace – perfect for those cold winter days! Total 6-bedrooms, 7-bathrooms, 8,930 sqft.
- 60 Clay Cliffe Dr, Excelsior, MN 55331 | Price: $6,950,000
Located in Tonka Bay’s gated Clay Cliffe enclave, this walkout one-story home is positioned on a private 1.54 -acre site with 430′ of prime Lake Minnetonka shoreline on Old Channel Bay. The whole house smart control system makes living easy and energy-efficient by controlling heating, cooling, lighting, and more, while floor-to-ceiling windows showcase the expansive views from every room. Prominent enameled millwork and plaster skimmed walls offer an elegant yet casual feel that is equally suited for entertaining or relaxing at home. A luxurious residence with 4 bedrooms, 7 bathrooms, 9,637 sq ft, and plenty of room for your family to live at their best.
- 10495 Hadley Ave N, Saint Paul, MN 55110 | Price: $6,950,000
This private lakeside compound offers 1,700’+/- of shoreline with panoramic views and an expansive 12+ acres. The ultimate retreat for the most discerning buyer, this stunning property features 6 bedrooms, 8 bathrooms, 10,374 sq ft, a modern kitchen with top-of-the-line appliances, and a custom wine cellar. A sauna in the master suite provides relaxation while high-end technology throughout ensures that no amenity is spared.
- X Saint Croix Trl N, Scandia, MN 55073 | Price: $5,750,777
This private compound on the St. Croix River has over 79 acres and 1200+ feet of river frontage. The home boasts 3200+ finished sq ft with 5 + bedrooms, 3 baths, and amazing living areas. Surrounded by beautiful towering white pines, woods, ravines, approximately 14 acres of field, and hundreds of acres of protected scientific and natural wildlife areas making this property is the perfect spot for someone who loves nature but also wants space for their family!
- 4595 Merrywood Ln, Excelsior, MN 55331 | Price: $5,200,000
This stunning lakefront home is the perfect place for those looking to escape from the city and fully appreciate nature’s beauty. With 270 feet of pristine sand shoreline and 3 private acres of wooded land, this beautiful property provides optimal privacy while also providing scenic views on Lake Minnetonka. The high-end finishes throughout the home offer a sophisticated yet relaxing space for you to enjoy your favorite amenities, such as chef’s kitchen with Labradorite countertops or the owner’s retreat with magnificent lake views, a large walk-in closet, and a freestanding tub in a shower room. Do not miss this opportunity to own this sought-after piece of waterfront. This home is perfect for those who want to work from home with a main floor office. Total it has 5-bedrooms and 5-bathrooms and 6,162 sqft worth of space. The lower level also includes a wine room, media room, game room, and exercise area. You and your guests can also enjoy the outdoor kitchen/cabana as you head to the lake!
Given the current state of the Minnesota real estate market, now is a great time to consider selling your house. And these days, selling a home online is easier than ever. You can conveniently work with one of the companies that buy houses in Minneapolis instead of listing with a realtor. In addition, sellers have found that the entire process is far less stressful if you work with a local “We buy houses Minnesota” company.
If you have been searching for more information about selling real estate in Minneapolis, Mill City Home Buyers can help! Contact us today at (612) 260-5577 if you’re interested in selling your house for cash. We are a premier home buying company that can make you a cash offer on your house today!