Minnesota’s real estate scene offers a serene mix of lakefront luxury and modern Midwestern elegance, framed by four distinct seasons. From the wooded estates along Lake Minnetonka to sleek condos in the heart of Minneapolis, the state’s high-end properties reflect both rustic charm and urban sophistication.
Here’s a look at five of the most expensive homes that capture the pinnacle of real estate in the Land of 10,000 Lakes.
5. Victoria, MN – $5,995,000
Located on just under two acres along Lake Minnetonka, this 6,105 square feet single-family home was built in 1990 and is listed at $5,995,000. The residence features 4 bedrooms and 6 bathrooms, along with a separate guest house and a curved driveway leading to the main home. Designed with rare materials and expansive lake views, the property includes both indoor and outdoor spaces intended for entertaining.
Where is Victoria?
Victoria, Minnesota, is a growing city located in Carver County, about 25 miles southwest of Minneapolis. It is known for its access to lakes, parks, and the nearby Carver Park Reserve. The city has a walkable downtown with restaurants, shops, and a regional trail connection. Victoria is served by the Eastern Carver County School District.
Living Room
Under an exposed vaulted structure with arched wooden trusses, the living room centers on a glass-top coffee table surrounded by gray seating. The entryway, located to the side, blends with the space through shared finishes and open layout flow. Hardwood floors and high ceilings amplify the sense of openness and light.
Kitchen
Wood beams run overhead in this kitchen where paneled cabinetry surrounds a marble island with seating for four. A backsplash with a geometric pattern fills the space beneath a decorative hood over the range. Twin pendant lights hang above the island, and built-in appliances are framed seamlessly into the cabinetry.
Dining Room
By the windows overlooking the lake, the formal dining room includes a long rectangular table with ten white-upholstered chairs. A tiered chandelier anchors the ceiling, while floor-length curtains and soft wallpaper patterns complete the look. Artwork and trim detailing provide symmetry and visual balance to the space.
Bedroom
Coffered ceilings and a ceiling fan hover over the primary bedroom, which features dark wood furniture and a carpeted floor. A large window faces the bed, offering views of the lake through partially visible trees. Along one wall, a full-height built-in unit includes dressers and shelving.
Bathroom
Inside the primary bathroom, a freestanding tub sits below an arched window with plantation shutters. Beige and cream tiles cover the floor and walls, bordered by ornate trim work. A walk-in shower is tucked into the corner beside built-in cabinetry and a decorative wall shelf.
Source: Ellen DeHaven @ Coldwell Banker Realty
4. Minneapolis, MN – $7,500,000
Overlooking Lake of the Isles in Minneapolis, this newly built 9,139 square feet home is listed for $7,500,000 and was designed by TEA2 architects with construction by Anderson Reda. The property includes 5 bedrooms and 6 bathrooms, with features such as a lake-view balcony, private study, home gym, theater, and a custom dog-run.
Thoughtfully crafted with high-end finishes, the residence also includes a dream garage and open living areas throughout.
Where is Minneapolis?
Minneapolis, Minnesota, is the largest city in the state and forms one half of the Twin Cities with neighboring Saint Paul. It features a network of lakes, parks, and the Mississippi River running through its center. The city is a hub for finance, healthcare, arts, and education, with institutions like the University of Minnesota. Minneapolis also has a diverse population and a transit system that includes light rail and bus lines.
Living Room
Geometric chandeliers hang from wood-paneled ceiling beams above a central seating area with white and charcoal-toned furniture. Along one wall, a long gas fireplace runs beneath a bold red forest painting, while a wide set of black-framed glass doors opens to the outside. A side console and mounted television complete the arrangement facing the seating.
Dining Room
Centered under a crystal chandelier, the round dining table seats eight with a mix of white and charcoal chairs. Flanked by wood cabinetry and colorful landscape prints, the space blends dining with a gallery-like atmosphere. A corner window nook brings in daylight from the side yard.
Media Lounge
Beneath exposed beams and steel supports, the lower-level lounge integrates a sectional sofa and media screen with open access to a game table. Bowling lanes with a full set of colorful balls stretch toward the far wall, placed beside a built-in viewing bench. A staircase leads up from the rear corner next to a motorcycle display.
Bowling Alley
Positioned behind the lounge space, the private bowling alley features two full lanes with wood flooring and digital scoring monitors above. Shelving and cabinetry at the back wall include bowling pins and a granite countertop for refreshments. Color-coded balls and a ball return anchor the center of the room.
Bedroom
Tucked into an upper level, the primary bedroom features a paneled alcove framing a king-sized bed between two windows. Built-in cabinetry, shelving, and a cushioned window bench line the perimeter, while circular light fixtures hang from the wood-paneled ceiling. Neutral furniture and rugs create a cohesive, relaxed layout.
Source: Julie R Regan, Jeffrey D Hornig @ Lakes Sotheby’S International Realty via Coldwell Banker Realty
3. Orono, MN – $7,650,000
Set along 121 feet of Lake Minnetonka shoreline with sweeping southwest views, this 8,288 square feet residence blends new construction with high-end design and functionality. Priced at $7,650,000, it includes 6 bedrooms and 7 bathrooms, a chef’s kitchen, wellness center, golf simulator, media room, and a separate nanny’s apartment.
Designed by Alexander Design Group and built by NIH Homes, the property also features a 4-car garage, optional pool plans, and over 1,100 square feet of unfinished lower-level space.
Where is Orono?
Orono, Minnesota, is a suburban city west of Minneapolis, located along the northern shores of Lake Minnetonka. It is known for large residential lots, wooded areas, and access to the lake. The city is served by the Orono School District and includes several parks and nature areas. Orono maintains a rural character while being part of the Twin Cities metro region.
Living Room
Just off the main stairwell, this formal living room centers on a fireplace framed by white paneling and a built-in shelving display. Deep blue armchairs and cream-toned sofas encircle a modern coffee table under a brass pendant light. Large windows flood the space with daylight, looking out onto a green landscape.
Kitchen
Inside the spacious kitchen, a large marble-topped island anchors the room and provides seating for six. Light wood cabinetry wraps around the space, accented by gold hardware and vertical tile backsplashes. Natural light enters through a trio of windows above the farmhouse-style sink.
Sunroom
Vaulted ceilings frame this sunroom, where exposed wooden beams stretch above a sectional sofa facing a stone fireplace. Positioned between sliding glass doors and a kitchen island, the room blends relaxation and casual dining functions. A ring chandelier and abstract art create symmetry across the central axis of the space.
Home Office
In front of a lake-facing wall of windows, the home office places a curved wooden desk between built-in shelves and graphic-patterned chairs. The view outside dominates the space, framed by charcoal-colored trim and cabinetry. Decorative sculptures and books line the open shelving, adding a curated backdrop to the workspace.
Entertainment Room
Downstairs, the media and lounge room features a wall-mounted TV surrounded by custom cabinetry and shelving. A U-shaped sectional and a modern coffee table occupy the center, while a bar with three stools lines the back wall beneath black-framed windows. Wood beams and dark paneling on the ceiling add a cozy contrast to the bright neutral tones.
Source: Brian K Benson @ Compass via Coldwell Banker Realty
2. Deephaven, MN – $7,995,000
Set on two acres in Cottagewood, this 10,692 square feet single-family estate was built in 1999 and is listed at $7,995,000. The home includes 5 bedrooms and 7 bathrooms, and it sits on 134 feet of level, sandy shoreline along Lake Minnetonka. Renovated by architect Mike Sharratt, the property features a sport court, guest suite, wet bar, lakeside patio, and access to community amenities like trails, tennis courts, and a historic general store.
Where is Deephaven?
Deephaven, Minnesota, is a residential city situated on the eastern shore of Lake Minnetonka. It features quiet neighborhoods, marinas, and several public beaches. The city is served by the Minnetonka School District and is known for its tree-lined streets and lakefront access. Deephaven is located about 15 miles west of Minneapolis.
Living Room
Massive arched windows rise above the lakefront, forming the backdrop for a seating area grounded by a stone fireplace and mounted TV. Soft-toned furniture gathers around a glass coffee table, creating a calm space that mirrors the view outside. The room blends into surrounding areas with open thresholds and continuous wood flooring.
Kitchen
Cooking and gathering converge at a long white island under pendant lights, surrounded by rich cabinetry and wood floors. Bronze venting above the range adds contrast to the clean backsplash and built-in display shelving. A breakfast nook tucks beside wide windows and doors that open onto the lake-facing patio.
Entertainment Room
Two game tables take center stage in the entertainment hub, where air hockey and billiards offer side-by-side action beneath bold pendant lighting. Nearby, a curved bar with iron-accented stools anchors the corner, facing a cozy lounge framed by landscape artwork. Seamless transitions lead into a second bar area and a small dining alcove tucked beneath warm wood columns.
Bedroom
Lake views flood through black-trimmed windows and doors in this private suite, where neutral seating and a tufted bed form a peaceful retreat. A pair of chairs face outward to take in the scenery, while a small sitting zone near the fireplace adds another layer of relaxation. French doors lead to a personal balcony perched above the shore.
Outdoor Dining Area
Slate tiles stretch out across a terrace where a long wood table and wicker chairs welcome lakeside meals. Iron railing lines the edge, offering open views of docks, watercraft, and a manicured lawn leading to the shore. Lighting from the adjacent house glows warmly against stone siding as evening settles in.
Source: Sarah E Polovitz, John C Adams @ Compass via Coldwell Banker Realty
1. Excelsior, MN – $10,000,000
Located in the Baycliffe gated community on Lake Minnetonka, this 8,297 square feet estate sits on 1.22 acres with 210 feet of lakefront shoreline and is priced at $10,000,000. The residence includes 6 bedrooms and 7 bathrooms across three levels, with highlights such as a Savant smart home system, gourmet kitchen, elevator, pool house, and a 10+ car garage.
Built on the site of the original Van Dusen summer cottage, the property also features a heated pool, hot tub, and access to shared amenities including courts for tennis, pickleball, basketball, and shuffleboard.
Where is Excelsior?
Excelsior, Minnesota, is a small city located on the southern shore of Lake Minnetonka. It has a historic downtown with shops, restaurants, and a vintage streetcar line. The city offers lake access, parks, and community events throughout the year. Excelsior is part of the Twin Cities metro area and is about 20 miles southwest of Minneapolis.
Kitchen
Combines high-end appliances with detailed millwork, including a massive island with seating and a marble countertop. Two crystal chandeliers hang over the workspace, while the backsplash and metallic range hood reflect light across the room. A wall of cabinetry and a built-in refrigerator add texture and symmetry to the space.
Dining Room
Connects to the outdoor area through sliding glass doors and is anchored by a rectangular table under a crystal bar pendant light. Upholstered chairs in mixed patterns surround the setting, and a built-in wine bar with fridge completes the corner. A minimal stone fireplace and sculptural wall decor tie the elements together.
Bedroom
Faces a wall of tall windows and doors that open onto a balcony overlooking a winter landscape. A textured fireplace wall holds a flat-screen television, while the tufted headboard spans the width of the room. A chandelier and soft carpet complete the serene atmosphere.
Bathroom
Leads directly from the bedroom and features a glass-enclosed shower with bench seating opposite a long vanity. A central soaking tub sits below a chandelier and against a feature wall with fireplace access shared with the bedroom. Wide plank floors run throughout, unifying the layout.
Pool Area
Sits across from a rectangular pool, centered around a shaded outdoor lounge with fireplace and television. Lounge chairs and a fire bowl create a symmetrical foreground arrangement. Framed by manicured lawn and trees, the setting balances openness and privacy.
Source: Andrew J Wolf, Bruce & Sue Wolf @ Edina Realty, Inc. via Coldwell Banker Realty
