08/27/2026
July 2026 Lake Minnetonka Housing Market Update
• 14 Lake Minnetonka homes sold
• Average List Price: $3,468,136
• Average Sale Price: $3,374,929
• Average Buyer Discount: approximately 2.7%
• Average Sold Price per Sq. Ft.: $761.47
• Average Days on Market: 59 days
• Highest Sale: $7,200,000
Market Perspective
July was another active month on Lake Minnetonka, with 14 lakefront homes sold, compared to 13 sales in July 2025. More importantly, the average sale price increased substantially, rising from $1,915,750 last July to $3,374,929 this year.
The mix of homes selling in July was noticeably stronger at the upper end of the market. The highest sale reached $7,200,000, compared to $3,500,000 in July 2025, while the median sale price increased from $1,487,750 to $2,900,000. That tells us a meaningful part of the year-over-year increase in average price came from more expensive properties changing hands this July.
Sellers also saw stronger results relative to asking price. July 2026 sales averaged approximately 98% of list price, compared to 96% last July. Average marketing time increased from 37 days in July 2025 to 59 days this year, showing that buyers remain willing to pay for the right property but are still taking their time when evaluating their options.
Inventory remains an important part of the story. As of August 27, 2026, there are 71 active lakefront homes for sale on Lake Minnetonka, with an average asking price of $5,995,408 and an average of 77 days on market.
Overall, July's sales show that there is still meaningful demand for Lake Minnetonka real estate, particularly for high-quality properties. At the same time, the amount of inventory available means buyers have choices. For sellers, pricing appropriately and presenting a property well from the beginning remain increasingly important as supply continues to compete for a more selective buyer pool.
For detailed sales data, upcoming opportunities, or a confidential evaluation of your Lake Minnetonka property, visit hollerman.com or reach out anytime.
