The story of this market
The typical home in ZIP 55331 sells for about $841,000, or $486 per square foot.
Prices are down 52.6% from a year ago, which gives buyers more room to negotiate. Homes take about 22 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,217 a month.
ZIP 55331 — Shorewood
The 55331 housing market is currently balanced, with supply and demand reaching equilibrium. While median listing prices remain high due to the area's luxury lakefront inventory, recent sales data shows significant volatility in median sale prices. The market is driven by affluent buyers seeking high-quality suburban living and proximity to Lake Minnetonka.
This ZIP is ideal for affluent families and professionals seeking luxury lakefront living, high-quality schools, and a suburban lifestyle with convenient access to the Twin Cities.
Median prices moved down 52.6% year over year.
Homes spend a median of 22 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 100% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.3% · poverty 4.0% — a stable, low-distress profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 55331
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is served by highly-rated public school districts, including Minnetonka Public Schools, which are recognized for strong academic performance.
The area is situated around Lake Minnetonka, presenting localized flood risks near shoreline properties; standard regional insurance coverage applies.
Economic momentum is driven by proximity to the Minneapolis-St. Paul metro area, with significant high-end residential development and lakefront redevelopment projects.
Property taxes are assessed at the county level in Hennepin and Carver counties, with rates determined by local school district and municipal levies.
Residents typically commute by car to the Minneapolis employment core, with a mean travel time of approximately 25.5 minutes.
The area features extensive access to Lake Minnetonka for boating and recreation, numerous regional parks, trails, and a historic downtown Excelsior shopping and dining district.
The rental market is characterized by high-end single-family and luxury condo offerings with limited inventory and premium pricing.
The local economy is anchored by proximity to the Minneapolis-St. Paul metro area, with a mix of professional services, retail, and tourism-related industries.
Transportation is primarily car-dependent, with major highway corridors providing access to the broader Twin Cities metropolitan area.
Ongoing development focuses on luxury residential infill and the revitalization of lakefront properties.
Parcels are subject to municipal, county, and school district levies, with specific assessments for local utility and infrastructure services.
Property insurance premiums are influenced by regional weather patterns and proximity to water, with standard coverage available.
Data retrieved from Census Reporter and ACS 5-year profiles.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Mall of America®4.618.3 mi
- Valleyfair4.210.5 mi
- Great Wolf Lodge | Minnesota3.917.8 mi
- Nickelodeon Universe4.518.3 mi
- Slick City Action Park4.516.5 mi
- U.S. Bank Stadium4.618.1 mi
- Minneapolis Convention Center4.517.3 mi
- Canterbury Park4.59.6 mi
- Topgolf Brooklyn Center4.319.9 mi
- The Armory4.717.9 mi
- Valleyfair4.210.5 mi
- Canterbury Park4.59.6 mi
- University of Minnesota Landscape Arboretum4.82.4 mi
- Emagine Willow Creek4.611.6 mi
- Paisley Park4.83.5 mi
- Minneapolis Institute of Art4.817.1 mi
- University of Minnesota Landscape Arboretum4.82.4 mi
- Walker Art Center4.516.6 mi
- Historic Stone Arch Bridge4.818.5 mi
- Paisley Park4.83.5 mi
- University of Minnesota Landscape Arboretum4.82.4 mi
- Clifton E. French Regional Park4.712.2 mi
- Westwood Hills Nature Center4.812 mi
- Hyland Lake Park Reserve4.712.5 mi
- Baker Park Reserve4.78.5 mi
- Wayzata Yacht Club4.87.2 mi
- Howard's Point Marina4.61 mi
- Knotty Oar Marina4.715 mi
- Metro Lakes Marina & Rentals LLC.4.53.4 mi
- Wayzata Bay Charter Cruises on Lake Minnetonka4.72.4 mi
- Braemar Golf Course4.411.3 mi
- Brookview Golf Course and Lawn Bowling4.212.3 mi
- Baker National Golf Course4.49.3 mi
- Stonebrooke Golf Club4.311 mi
- Hazeltine National Golf Club4.74.4 mi
- Ridgedale Center4.49.9 mi
- Asia Mall4.39 mi
- Eden Prairie Center4.49.7 mi
- T.J. Maxx & HomeGoods4.311.5 mi
- Hy-Vee Grocery Store4.48.9 mi
- Minneapolis-Saint Paul International Airport4.419.5 mi
- Shoyu3.719.6 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major regional lake providing extensive boating, fishing, and recreational opportunities.
A historic district featuring boutique shops, restaurants, and access to the Commons park.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.