2021 proved to be the best year in history for Minnesota luxury home sales, as the pandemic disrupted and transformed yet another economic market. Pent up demand chased a record low supply of luxury homes, causing prices to jump significantly.
In Minnesota, we had 1,600+ sales of homes over $1 million, 200+ sales of homes over $2 million, and 50+ sales of homes over $3 million, with primary growth taking place in the Edina and Lake Minnetonka markets. Here are the top 5 sales from the luxury markets:
#1: ORONO
1200 OLD CRYSTAL BAY RD
5 BR, 8 BA, 4 GAR, 9,888 FSF
SOLD PRICE: $3,600,000
When you think of a true European “estate” property, this majestic home is exactly what comes to mind! A sprawling mansion on 2.6 acres of manicured grounds, including a private lake and heated swimming pool. Timeless architectural details with modern amenities, and over 9,500 above grade square footage. Listed by Lakes Sotheby’s International Realty, Wayzata, Minnesota.
View Full Listing#2: ORONO
2665 MAPLE RIDGE LN
4 BR, 6 BA, 7 GAR, 7,520 FSF
SOLD PRICE: $3,595,000
This magnificent 4 BR renovation sits on prestigious Lafayette Bay, and offers high-end finishes and curated spaces for the most discriminating buyers, including 4 season porch, executive office suite, wine cellar, and full size theater room. And if that wasn’t enough, who can’t use a 7 car garage! Listed by Lakes Sotheby’s International Realty, Edina, Minnesota.
View Full Listing#3: EDINA
14812 BYWOOD ST
6 BR, 8 BA, 4 GAR, 7,671 FSF
SOLD PRICE: $3,295,000
Prestigious luxury home with spectacular frontage on Interlachen Golf Course in the desirable Rolling Green Neighborhood of Edina. Massive ceilings and two story spaces with golf views from every room. And to add a cherry on the sundae, it’s even rumored that Arnold Palmer himself stayed in the upper level guest suite! Lakes Sotheby’s International Realty, Edina, Minnesota.
View Full Listing#4: ORONO
1040 TONKAWA RD
5 BR, 8 BA, 3 GAR, 10,856 FSF
SOLD PRICE: $3,150,000
Spectacular home on coveted Maxwell Bay with over 10,000 square feet and many spaces, including boxed beam ceiling living room, spacious Master Suite with bay views, and exercise room with sauna and (nearby) wet bar – everything you would need to weather a pandemic or two! Exceptional craftsmanship on an unbeatable lake setting. Listed by Lakes Sotheby’s International Realty, Edina, Minnesota.
View Full Listing#5: EDINA
5012 OAK BEND LN
5 BR, 7 BA, 3 GAR, 9,149 FSF
SOLD PRICE: $3,130,000
Custom built home in the sought-after Fox Meadow Neighborhood of Edina, in a quiet cul de sac subdivision just off Mirror Lake. Rich millwork, luxurious main floor Master Suite, and home gym on the inside, and massive backyard oasis and pool on the outside. Listed by Lakes Sotheby’s International Realty, Edina, Minnesota.
View Full ListingOf course, these are just the top of the iceberg when it comes to luxury home sales over $3 million this year. We expect another record-breaking year in 2022, as luxury buyers continue to upgrade their homes and living spaces and prepare for the “new normal.”
