Welcome to Lake Minnetonka!
Located about 16 miles west of the Twin Cities, Lake Minnetonka covers two counties and is the largest lake in the Minneapolis and St. Paul metropolitan area.
This scenic slice of paradise attracts countless visitors and new residents every year with its idyllic laid-back setting, incredible recreational opportunities, and exciting festivals and events. In addition to being a popular vacation retreat, Lake Minnetonka offers a high quality of life, thanks to its top-rated schools, terrific employment opportunities, diverse assortment of real estate options, and easy access to the Twin Cities.
Thinking about investing in Lake Minnetonka luxury real estate? Here are 10 reasons why it’s a smart move.
Table of Contents
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History of Lake Minnetonka at a Glance
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Why Invest in Lake Minnetonka Luxury Real Estate?
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Lake Minnetonka’s Laid-Back Lakeside Towns
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Lake Minnetonka’s Dynamic Luxury Real Estate Market
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Incredible Outdoor Recreation
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A Prime Year-Round Fishing Destination
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Close Proximity to Downtown Minneapolis
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Top-rated Schools
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Robust Employment Market
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Exciting Year-round Events
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Health Benefits of Lakeside Living
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Exceptional Luxury Homes That Provide an Unparalleled Lifestyle
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Work With the Finest Lake Minnetonka Luxury Real Estate Expert Today!
History of Lake Minnetonka at a Glance
Originally inhabited by Native Americans, Lake Minnetonka was said to be discovered in 1822 by a group of porters. One of the first cities developed in the Lake Minnetonka area was Mound, which was initially called “Mound City” after the various ancient Native American burial sites in the area.
When the logging industry began to pick up in 1852, a dam was constructed on the Minnehaha Creek. Soon after, a New Yorker developed the Excelsior area, claiming it as the “Excelsior Pioneer Association.” The city of Wayzata was founded in 1854, followed by Deephaven and Orono.
The Lake Minnetonka area became more industrialized along with other cities in the US during the late 1800s. When railroad access to Wayzata became possible in 1867, more visitors arrived at this new and exciting lake destination. Victorian hotels were constructed along the shores to accommodate more tourists, including the famous Lake Park Hotel on Tonka Bay. Steamboat tours became a popular attraction in 1881, attracting even more tourists to the area.
Why Invest in Lake Minnetonka Luxury Real Estate?
1. Lake Minnetonka’s Laid-Back Lakeside Towns
One of the most exciting parts of the home buying experience is Lake Minnetonka is looking into the great selection of towns lining the lake’s shores. Each town has its own unique charm and character and complements Lake Minnetonka’s luxury real estate options, enabling buyers to find a high-end property that matches their lifestyle perfectly.
Here’s a quick look at some of the towns surrounding the lake:
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Wayzata – Located about 16 miles west of Minneapolis, Wayzata is a lakeside community that’s a terrific option for those looking for a relaxing environment close to the Twin Cities and its big city amenities. The community also features several marinas, making it an ideal place to live for avid boaters and enthusiasts.
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Excelsior – Nestled along Lake Minnetonka’s southern shores, Excelsior is a small city that offers a unique mix of old and new. It is a well-known shopping and leisure destination, with its vibrant array of antique shops, specialty stores, cafés and restaurants, and entertainment venues.
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Mound – Located on the western side of Lake Minnetonka, Mound is a city that offers an idyllic charm and relaxed small-town feel. It offers an outstanding quality of life thanks to its array of attractions, exciting festivals, and beautiful city parks equipped with a range of amenities.
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Orono – Situated along the north shore of Lake Minnetonka, the city of Orono offers the perfect balance between idyllic and modern, making it an ideal choice for those looking forward to a luxurious lifestyle in a laid-back setting. While the city is less developed compared to other lakeside communities, it still offers convenient access to the Twin Cities, offering the best of both worlds for residents.
2. Lake Minnetonka’s Dynamic Luxury Real Estate Market
Lake Minnetonka luxury real estate has been selling for higher prices and faster than ever before. Luxury homes on Lake Minnetonka traditionally stay on the market for several months before attracting the right buyers, which isn’t the case nowadays.
According to data from the Minneapolis Area Association of REALTORS®, homes in the 14 communities surrounding Lake Minnetonka remained on the market for 91 days on average between January 2019 and January 2020. This metric saw a significant drop by 47% to just 48 days between November 2020 and November 2021.
Many real estate experts point to low-interest rates combined with the scarcity of lakefront lots as the main driving factors for buyers in the lakeshore communities. Other factors include amenities and space, which are pushing buyers from high-end homes in Edina and Minneapolis towards Lake Minnetonka. Many of these buyers are likely finding themselves in homes that are too big for them, with their children graduating from college, for example. This doesn’t necessarily mean that they’re willing to spend less money on their next home, however. It simply means they might be in search of a change in scenery, a new layout, or a new location on the lake.
3. Incredible Outdoor Recreation
Living in Lake Minnetonka gives you access to a wealth of recreational opportunities including hiking, mountain biking, and a wide variety of watersports.
Here’s a quick look at some of the amazing outdoor destinations and activities you can enjoy in Lake Minnetonka:
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Water activities – Lake Minnetonka is a haven for water sports enthusiasts with its diverse array of recreational activities such as kayaking, swimming, paddle boarding, and water skiing. Don’t worry about missing out on the action if you don’t have your own boat or equipment – you’ll find many establishments along the lake offering rentals.
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Three Rivers Park District – Encompassing over 27,000 acres of parks and trails, the sprawling Three Rivers Park District offers a vast array of recreational options for all seasons, from cross-country skiing to horseback riding, boating to mountain biking, archery to camping, and many more. Some of its most notable parks and trails include the Hyland Lake Park Reserve, Lake Minnetonka Regional Park, Carver Park Reserve, the Bassett Creek Regional Trail, and Crystal Lake Regional Trail.
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Noerenberg Gardens – Nestled along the shores of Lake Minnetonka’s Crystal Bay, Noerenberg Gardens is a scenic slice of paradise filled with a vast assortment of annuals, perennials, shade trees, vines, and shrubs. It is one of Minnesota’s finest and most beautiful formal gardens and is a popular venue for tours, nature walks, and weddings.
4. A Prime Year-Round Fishing Destination
Lake Minnetonka is well-stocked with a wide variety of fish, making it a year-round paradise for avid fishing enthusiasts.
Covering more than 14,500 acres and wrapped by over 120 miles of shoreline, Lake Minnetonka is the tenth largest lake in Minnesota. The lake’s structure allows for outstanding fishing opportunities for beginners and seasoned anglers alike.
A few examples of species you can reel in from the lake include:
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Black bullhead
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Black crappie
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Bluegill
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Bowfin
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Carp
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Sunfish
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Largemouth bass
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Smallmouth bass
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Muskellunge
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Northern pike
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Pumpkinseed
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Rock bass
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Walleye
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White sucker
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Yellow bullhead
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Yellow perch
5. Close Proximity to Downtown Minneapolis
Lake Minnetonka’s convenient access to downtown Minneapolis has made it one of the top vacation and resort destinations for city residents. This is what makes the lakeshore communities such desirable locations, as they serve as bedroom neighborhoods to the greater metro area.
Getting easy access to a combination of modern city amenities and over 125 miles of picturesque shorelines and bays and all of the fun recreational destinations puts residents in a prime location, where each day can be extraordinary.
6. Top-Rated Schools
The Lake Minnetonka area is a superb place to raise a family, thanks to its highly rated public schools. The area is served by three outstanding school districts: Hopkins Public Schools, Minnetonka Public Schools, and Wayzata Public Schools, all of which boast top-ranking education statistics.
7. Robust Employment Market
The communities throughout Lake Minnetonka are very business-friendly, providing plenty of opportunities for job seekers in the area.
The economy is bolstered by several major industries in retail, finance, healthcare, manufacturing, and insurance. Some of the largest employers in the area include successful companies such as
- Best Buy
- Cargill
- Carlson Companies
- Digi International
- Digital River
- G&K Services
- Opus Group
- UnitedHealth
Most lakeside towns offer easy access to several transit options including Park and Ride venues and Metro Transit routes to Minneapolis, which makes commuting easy and hassle-free. Metro Mobility services are available for residents with disabilities to help them get around.
8. Exciting Year-Round Events
Investing in Lake Minnetonka luxury real estate means you can look forward to a stellar lineup of fun community-wide events each year, from summer festivals to swimming competitions, cook-offs to Fourth of July fireworks celebrations, and many more.
Here are some of the signature events you can enjoy in the Lake Minnetonka area:
- Lake Minnetonka Half Marathon – The annual Lake Minnetonka Half Marathon takes runners on a challenging yet scenic journey that celebrates the beauty of Lake Minnetonka. Local cross-country running teams are invited to participate, giving high school athletes a great opportunity to compete as well.
- Minnetonka Summer Festival – Typically held at the civic center campus on the fourth Saturday of June, the Minnetonka Summer Festival delights locals and visitors of all ages with an antique bazaar, arts and crafts vendors, pony rides, friendly races, performances from local bands, and more.
- Minnetonka Challenge – For over 25 years, countless swimmers have put their endurance and skills to the test by joining the Minnetonka Challenge, a 5-mile swim across Lake Minnetonka, starting from Excelsior Beach to Wayzata Beach. While only a handful of swimmers have managed to successfully cross the lake twice, a single trip is already an impressive feat for most.
- Excelsior Apple Days – Excelsior Apple Days is a fun lakeside festival that celebrates community, art, delicious food, and street dance. Held in downtown Excelsior every September, the festival includes local food and craft vendors, baking and pie-eating competitions, spectacular performances, a 5k race, and more.
These are just some of the many unforgettable events you can enjoy when you’re living in Lake Minnetonka!
9. Health Benefits of Lakeside Living
Those looking for the finest Lake Minnetonka luxury real estate options will be able to choose from a terrific selection of beautiful lakefront homes offering an unparalleled lifestyle by the water.
One of the most understated benefits of living right next to the lake is the positive impact it has on your overall physical and mental well-being. Living in a lakefront home provides health benefits such as:
- Tightknit community – A lakefront lifestyle provides more opportunities to build deeper connections with your neighbors, especially those who immerse themselves in nature. According to studies, more socialization offers tremendous benefits for your mental health.
- The soothing effect – Living right next to the water calms your senses, allowing you to relax and unwind together with the soothing sounds of flowing water.
- Access to lake activities – The vast array of water activities in Lake Minnetonka provides numerous opportunities to stay active and spend more quality time with loved ones.
- Peace and quiet – Lakeside living allows you to enjoy serenity and solitude, giving you higher quality rest each day. While you do have neighbors, the shores of Lake Minnetonka aren’t as dense compared to the cities or suburbs.
- The breathtaking views – Living on the shores of Lake Minnetonka allows you to soak in panoramic views of the lake from your home. There’s nothing quite like waking up to spectacular views of the sunrise over the water and capping your day off with a magnificent sunset. You can soak in the vitamin D from the morning sun while reading a compelling novel, or host gatherings on the patio underneath a canopy of stars – all of these allow you to savor simple, quiet moments with your loved ones, which gives you more satisfaction in life.
10. Exceptional Luxury Homes That Provide an Unparalleled Lifestyle
A selection of impressive high-end homes is available for those planning to invest in Lake Minnetonka luxury real estate.
Luxury homes for sale in Lake Minnetonka come in a wide variety of elegant architectural styles such as Colonial Revival, Tudor, Mediterranean, and Ranch. Lake Minnetonka luxury real estate options offer a perfect blend of privacy, comfort, and sophistication, and are equipped with a wide range of first-class features designed to provide an unparalleled lifestyle.
The finest luxury homes are located right on the shores of the lake, offering picture-perfect water views and easy access to the wealth of recreational opportunities available. Many high-end homes boast features that take full advantage of the breathtaking surroundings such as:
- Floor-to-ceiling windows
- Expansive patios and terraces
- Multiple lake-facing indoor or outdoor living areas
- Private docks and boat slips
For the best Lake Minnetonka luxury real estate options, take a look at our featured properties.
Work With the Finest Lake Minnetonka Luxury Real Estate Expert Today!
Ready to begin your search for the best Lake Minnetonka luxury real estate options?
Tim Ornell and The Ornell Group are here to help you navigate this exciting real estate market. As an experienced real estate agent with Realty One Group and the founder of The Ornell Group, Tim has established a stellar reputation throughout his career for his track record of success, unmatched skills, and bone-deep knowledge of the high-end real estate market throughout Lake Minnetonka’s communities.
Tim has successfully sold millions of residential real estate and prides himself in delivering unparalleled service for clients looking to fulfill their real estate goals in the area.
Get in touch with Tim Ornell and his team today at (651) 263-9480 or send him an email at [email protected] to get started!
