By: Anne Bretts, Finance & Commerce
Posted: December 23, 2019 at 2:08 pm
A $9 million deal for a classic four-bedroom, six-bath, 9,600-square-foot home built 20 years ago at 310 Ferndale Road in Wayzata was the biggest sale of the year when it closed in March.
Nothing else has come close to it since.
The records of closed and pending single-family home sales for 2019 are falling into place. Barring a major last-minute surprise, the results will fall far short of 2018, when the top sale was the $23-plus million demolition and redevelopment of Southways, the iconic Pillsbury estate .
As usual, the top sales largely are clustered around Lake Minnetonka. And for the second year in a row, at least some of the top sales are teardowns.
This year the second-place spot went to the $5.75 million sale of a four-bedroom, four-bath, 5,842-square-foot home on 1.78 acres at 578 Harrington Road in Wayzata. The new owners of the 1975 home, once listed $11 million, have applied to the city to tear down and rebuild on the site. It’s a trend that reflects the ever-increasing demand for new homes on the lake’s finite shoreline.
Outstate Minnesota made a splash when a 17,359-square-foot lodge sold for $5.1 million, making the largest residential sale outside the Twin Cities and earning it the No. 5 spot on the overall list.
Last year’s big ticket sales and big impact teardowns weren’t a fluke, said John Wanninger of Lake’s Sotheby’ International Realty.
“I viewed it as foreshadowing the future of the luxury market in the Twin Cities,” he said.
“This market, which is pretty wealthy, is feeling more comfortable with these high-end homes.” Wanninger knows of at least three homes now under construction that are expected to be 30,000 square feet or more.
And this year, a home designed by Frank Lloyd Wright Jr. was torn down to make way for construction of up to 13 new homes.
Meredith Howell of Coldwell Banker Burnet Burnet’s Wayzata office, who was involved in more than one top home sale, said that 2019 wasn’t as dramatic as last year, but sales were strong and steady.
“It was a great year,” she said.
Top 10 home sales
The top 10 home sales in Minnesota in 2019, based on data from Realtor.com, Northstar MLS and certificates of real estate value filed with the Minnesota Department of Revenue.
1.$9 million, 310 Ferndale Road, Wayzata: four-bedroom, six-bath, 9,600-square-foot house, built in 1999, with 550 feet of Lake Minnetonka shoreline.
Closed: 3-18-19
Listed: Patti Jo Hermann, Edina Realty, Wayzata
Sold: Mimi Morrison Bendickson, Coldwell Banker Burnet, Wayzata
2.$5.75 million, 578 Harrington Road, Wayzata: four-bedroom, five-bath, 5,842-square-foot house, built in 1975, with 300 feet of Lake Minnetonka shoreline, expected to be a teardown.
Closed: 4-4-19
Listed: Patti Jo Hermann, Edina Realty, Bob Carlson, Coldwell Banker Burnet
Sold: Debbie McNally, Lakes Sotheby’s International Realty
3.$5.6 million, 1220 Bracketts Point Road, Orono: four-bedroom, five-bath, 4,477-square-foot house, built in 2016, with 240 feet of Lake Minnetonka shoreline.
Closed: 3-20-19
Listed: N/A
Sold: Meredith Howell, Coldwell Banker Burnet
4.$5.5 million, 640 Locust Hills Drive, Wayzata: six-bedroom, seven-bath, 8,577-square-foot house, built 2011, with 175 feet of Lake Minnetonka shoreline.
Closed: 5-17-19
Listed: N/A
Sold: Meredith Howell, Coldwell Banker Burnet
5.$5.1 million, 13095 Pelican Circle N., Breezy Point: nine-bedroom, 11-bath, 17,359-square foot house, built 2007, with 23 acres and 875 feet of shoreline on Pelican Lake. Largest outstate sale in 2019.
Closed: 12-2-19
Listed/Sold: Michael Lynch, Lakes Sotheby’s International Realty
6.$4.9 million, 1520 Bohns Point Road, Orono: five-bedroom, eight-bath, 9,765-square-foot house, built 2002.
Closed: 12-2-19
Listed/Sold: John F. Adams, Coldwell Banker Burnet
7.$4.37 million, 18320 Breezy Point Road, Woodland: five-bedroom, five-plus baths, 5704-square-foot house, built in 2019.
Closed: 7-8-19
Listed: Jeff Dewing, Coldwell Banker Burnet
Sold: Ross Melby, Lakes Sotheby’s International
8.$4.2 million, 38779 Pine Haven Trail, Pine River: five-bedroom, seven-bath, 7,837-square-foot home, built in 2006
Closed: 9-12-19
Listed: N/A
Sold: Pat & Nick Heinen, Edina Realty Inc.
9.$3.875 million, 2410 Oakland Road, Minnetonka: five-bedroom, five bath, 5,578-square-foot house, built in 1966 on 11.5 acres; designed by Frank Lloyd Wright Jr., being redeveloped as 13 building lots.
Closed: 6-3-19
Listed: Meredith Howell
Sold: Eric Zehnder, RE/MAX
10.$3.85 million, 495 Oxford Road, Orono: five-bedroom, five bath, 6,101-square-foot house, built in 2013
Closed: 9-5-19
Listed: N/A
Sold: George Stickney, Coldwell Banker Burnet