Is Minnetonka, MN 55345 a buyer’s or seller’s market?

The Minnetonka housing market right now

In the three months ending August 31, 2026, 46% of homes in Minnetonka, MN 55345 sold above their list price, the typical home went under contract in 15 days and there were 1.8 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 110 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 50%, homes sold more slowly (13 days then) and the median sale price held steady to $534,769. Overall, Minnetonka is less competitive than a year ago, which gives buyers more room.

Within Hennepin County, homes here sell faster than in 87% of the county’s ZIP codes, and sell more often over asking than in 76%. On our competition score, Minnetonka ranks #32 of 296 MN ZIP codes with enough sales (score 85 out of 100).

Nearby, buyers who want less competition could look at Minneapolis 55454 (0% sold over asking) or Minneapolis 55403 (6% sold over asking), while Minneapolis 55406 (59% sold over asking) and Minneapolis 55441 (58% sold over asking) are even more competitive.