Top home sales redefine luxury
Most Twin Cities real estate agents would consider $ 20 million in sales a good year.
Jeffrey Dewing, a partner in Dehaven Dewing Real Estate at Coldwell Banker Realty of Wayzata, raised $ 20.875 million in just two of his deals. They were enough to get him the top two spots in the top home sales list in 2021.
Businessman Tom Pohlad sold his 8,374-square-foot home at 2209 Huntington Point Road E., Wayzata for $ 10.375 million after buying it for $ 7.25 million in 2017.
Pohlad held the lead until December 3, when Rep. Dean Phillips sold his home at 3650 Northome Road in Deephaven for $ 10.5 million. That’s more than three times what he paid 10 years ago for a previous house on the same site on Lake Minnetonka that he demolished to build the new one.
John Wanninger, of Lakes Sotheby’s International Realty’s local offices, who track sales in the luxury market, says the two properties represent a serious shift in local culture, reflected in the growth of luxury car houses and high-end restaurants.
“I think this is the emergence of the eight figure market,” he said.
Minnetonka has been the only lake in its own world when it comes to real estate for years. The top 10 lists long had millions of dollars worth of demolitions, and now these new homes are coming on the market. We’re not yet the Hamptons, but we attract athletes, leaders, and others who can live anywhere and often choose multiple locations.
Dewing is humble about its success and is very protective of its customers.
“Probably the best word is grateful,” he said of his work in luxury sales. He’s also open about what it takes to win big deals.
“They are complicated and take a lot of work,” he said.
And while many businesses are focusing on online convenience, he and partner Ellen DeHaven have opened a boutique office in downtown Wayzata.
DeHaven, a regular on the annual top 10 list, sees many customers buying luxury vacation home here and spending even more on primary residences in the States to entice them with low or no property taxes.
No matter how you calculate, changes in the market are leading to a new definition of luxury.
“The land of hot dishes is growing up,” said Wanninger.
Top real estate sales in 2021
The sale was closed or is due to close in the 16 County Metro Zone in 2021, based on information from the Minneapolis Area Realtors, Minnesota Department of Revenue, Realtor.com, individual agents and brokers.
1. $ 10.5 million, 3650 Northome Road, Deephaven: 8,374 square foot four bedroom, six bath home built in 2013 on 2.59 acres on Lake Minnetonka.
Closed: 11-10-21
Listed by: Jeffrey Dewing, DeHaven Dewing Real Estate, Coldwell Banker Realty, Wayzata
Sold by: Meredith Howell, Coldwell Banker Realty, Wayzata.
2. $ 10.375 million 2209 Huntington Point Road E., Wayzata: Five bedroom, seven bath home, 8,374 square feet, built in 2012 on 1.35 acre lot with 160 feet of shoreline along Lake Minnetonka.
Closed: 8-2-21
Listed by: Jeffrey Dewing, DeHaven Dewing Real Estate, Coldwell Banker Realty, Wayzata
Sold by: John F. Adams, Compass Realty, Wayzata
3. $ 5.595 million, 1280 Bracketts Point Road, Wayzata: 4 bedroom, 6 bath home, 6,703 square feet, built in 1987 on 1.84 acres, with 100 yards of shoreline along Lake Minnetonka.
Closed: 5-14-21
Listed by: Ellen DeHaven, DeHaven Dewing Real Estate, Coldwell Banker Realty, Wayzata
Sold by: Erik Myhran, Coldwell Banker Realty, Wayzata
4th $ 5.385 million, 1640 Bohns Point Road, Orono: 7,000 square foot five bedroom, six bath home built in 2004 on 0.94 acres with 60 yards of Lake Minnetonka shoreline.
Closed: 7-16-21
Listed by: Ellen Phelps, Coldwell Banker Realty, Wayzata
Sold by: Susan Hewitson, Fazendin Realtors, Wayzata
5. $ 5,327,074, 2501 Crosby Road, Wayzata: 6,663 square foot five bedroom, eight bath home built in 2020 on 2.43 acres.
Closed: 6-28-21
Listed by: Jeffrey Dewing, DeHaven Dewing Real Estate, Coldwell Banker Realty, Wayzata
Sold by: Carla Lopez, Coldwell Banker Realty, Minneapolis Lakes
6th $ 5.3 million, 10675 Cavallo Ridge, Eden Prairie: 5 bedroom, 8 bathroom, 12,558 square foot home built on 4.97 acres in 2013.
Closed: 2-26-21
Listed by: Ryan Platzke, Coldwell Banker Realty, Eden Prairie
Sold by: Gwendolyn Marty, The Snyder Team, EXP Realty, Oakdale
7th $ 4.85 million, 2315 Huntington Point Road E. Minnetonka Beach: 5,258 square foot four bedroom, five bath home built in 2016 by Denali Custom Homes Inc. on 0.54 acres.
Closed: 5-27-21
Listed by: Jeffrey Dewing, DeHaven Dewing Real Estate, Coldwell Banker Realty, Wayzata
Sold by: Ellen DeHaven, DeHaven Dewing Real Estate, Coldwell Banker Realty, Wayzata
8th. $ 4.35 million, 4595 Merrywood Lane, Minnetrista: 5 bedroom, 5 bath, 6,162 square feet home built in 2002 on 2.8 acres, with 270 feet of Lake Minnetonka shoreline.
Closed: 11-19-21
Listed by: Helen Gunther, RE / MAX Results, Wayzata
Sold by: Sarah Polovitz, Compass, Savage
9. $ 4.2 million, 2665 Maple Ridge Lane, Excelsior: 4 bedroom, 6 bath, 7,520 square feet home built in 2002 on 1.62 acres with 152 feet of shoreline on Lake Minnetonka.
Closed: 10-8-21
Listed by: Julie Regan, Lakes Sotheby’s International Realty, Edina
Sold by: Chris Rich, ReMax Results, Wayzata
10. $ 4.175 million, 2560 Cedar Ridge Road: 8 bedroom, 6 bathroom, 6,458 square foot home built in 1935 on 1.89 acres with 210 feet of shoreline on Minnetonka.
Closed: 5-27-21
Listed / Sold by: Ellen DeHaven, DeHaven Dewing Real Estate, Coldwell Banker Realty, Wayzata
CONNECTED:
Pohlad-Haus hits annual high of 10.37 million US dollars
Dean Phillips’ home in Deephaven is being sold for $ 10.5 million
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