The real estate market in Wayzata, MN is notably active, with some properties receiving multiple offers, a testament to the high level of interest among buyers.
Offer and Sale Dynamics in Wayzata
On average, homes in Wayzata sell for roughly 1% less than the listed price and transition to pending status within approximately 19 days. However, certain homes have managed to command prices about 3% above their listed prices and become pending in a shorter span of around 9 days.
Time on Market in Wayzata
A characteristic feature of the Wayzata market is the speed at which homes sell. The average time from listing to pending is just 19 days, with faster-moving properties going pending in as few as 9 days.
Wayzata Market Type
The Wayzata real estate market distinctly favors sellers, which implies that prices generally trend higher and homes sell more rapidly compared to other markets.
Year-over-Year Trends in Wayzata
Wayzata has seen significant appreciation in property values over the last year, with homes selling for a robust 14% more than they did a year prior, signaling a strong growth trend.
Advice for Wayzata Home Buyers
For those considering purchasing a home in Wayzata, it's important to note that prices typically hover close to the asking price. In fact, last month, 36.7% of homes sold were near their original listed price, suggesting buyers should be prepared to offer close to asking.
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Compass
401 Lake Street East, Unit 200
Wayzata, MN 55391
Ulrich Real Estate Group
