Wayzata Homes & Real Estate

WAYZATA REAL ESTATE

Wayzata 

Wayzata is a suburb in Minnesota that is characterized by its lakeside village earning for it the moniker “jewel of Lake Minnetonka”. True to form, Wayzata is the best location for anyone who wants to get a good view of the famous Twin Cities Lake. Despite a thriving business community, Wayzata has managed to maintain its small town ambiance along with plenty of parks and open spaces. 

This city is an interesting place not only during summertime when you get to watch the passing cruisers and sailboats but also during wintertime when ice racers and skaters abound. Life’s modern amenities are also present in Wayzata including a wide-range of restaurants, fashion stores and home accessories making it an ideal place not only for short visits but also for relocation. 

Population Profile 

With a small population of only 4,113 people divided into 1,929 households, Wayzata is considered a small to medium-size city with a population density of 1,292.6 persons for every square mile of land. Majority or 96.11% of the population are Whites followed by Asians (1.34%) and a mixture of African Americans, Native Americans, Pacific Islanders and other races. 

The average family income in Wayzata is $96,859 while the city’s per capita income is $63,859. Residents have a fairly comfortable life with only 2.3% of the entire population living below the poverty line. This is understandable as Wayzata is surrounded by the growing economies of Plymouth and Minnetonka, not to mention Wayzata’s growing reputation as a financial center. 

History 

The name Wayzata, which is sourced from the Sioux word Wayzata, evokes memories of the Indian settlement along Lake Minnetonka. The lake, which the settlers called “Big Water”, was an ideal site both for fishing and hunting. However, the settlers were forced out of the area after France claimed the land and sold it to the United States. 

The pioneering family of Oscar E. Garrison settled in the area in 1852 and filed a claim for the land in 1854. A year after, Wayzata saw the construction of its first sawmill along with the first hotel and blacksmith shop. The growing economy of the Wayzata settlers (which relied on corn and wheat) was threatened by a grasshopper plague. Ultimately, it became a center for ginseng roots which were collected in the surrounding forests and sold to the Orient as an aphrodisiac. 

One important part of Wayzata’s history is its development as a resort town area which was brought about by the influx of commercial steamboats operating within Lake Minnetonka. Tourists started to flock in the area after the Civil War. The extension of the tracks of the St. Paul and Pacific Railroad to Wayzata made the area more accessible and was responsible for the construction of hotels and other commercial establishments in Wayzata. The start of the Gilded Age of Wayzata also saw the construction of an 800-room hotel in Minnetonka beach named Lafayette Hotel. 

Wayzata is a living proof of the common economic boom and bust. And after the tourists moved on, Wayzata was established as a separate government entity with its own council. Ironically, the first act of the village council was to force the removal of the railroad track which was responsible for the economic boom in the area. The removal of the track took away Wayzata from the map resulting to an economic slump. A change of heart of the council led to the construction of the finest track in Wayzata. 

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New Listings

Featured picture for the property 5280785
$999,999
Medina, MN
5
beds
4
baths
Listing courtesy of Engel & Volkers Lake Minnetonka
Featured picture for the property 5278166
$750,000
Minnetonka, MN
5
beds
4
baths
Listing courtesy of CENTURY 21 MarketLink Realty
Featured picture for the property 5280341
$1,600,000
Minnetonka, MN
3
beds
3
baths
Listing courtesy of Prime Real Estate Services Ltd
Featured picture for the property 5279703
$929,000
Wayzata, MN
3
beds
3
baths
Listing courtesy of Edina Realty, Inc.
Featured picture for the property 5279437
$899,900
Minnetonka, MN
5
beds
5
baths
Listing courtesy of Coldwell Banker Burnet
Minnesota
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than the owner of this site are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. Information deemed reliable but not guaranteed.
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Today's Market Trends for Wayzata Homes & Real Estate *

$1,412,770

-0.02%

$1675

4.35%

160

-0.11%

July

June

 

179

176

 

 

0.02%

0.22%

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* All data pertains to single-family homes