A Lake Minnetonka estate in Deephaven, Minnesota, sold for $18.25 million in October 2023, setting a new state record for residential sales. The property, which includes 350 feet of shoreline and spans about 2.39 acres, was originally listed at $22 million but sold for approximately 17% less than the asking price. This sale highlights the surge in luxury real estate transactions around Lake Minnetonka, with other recent high-value sales including a $13.5 million home in Orono and a $10 million property in Wayzata from 2023.
Written locally by qwen2.5:14b on 2026-10-08,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
A Lake Minnetonka estate in Deephaven, Minnesota, has been sold for $18.25 million, surpassing the previous state residential-sale record of $17.5 million set by another property in 2006. The contemporary residence, located at 20670 Linwood Road, spans about 2.39 acres and includes 350 feet of shoreline, featuring five bedrooms, nine bathrooms, and a heated six-car garage. Designed by Charles Stinson and completed in 2015 by Streeter Custom Builder, the property originally entered the market at $22 million but sold for a discount of roughly 17%. This sale highlights the surge in Minnesota's luxury real estate market.
Written for “Minnesota Real Estate Boom” on 2026-10-08,
grounded in this article and the 0 other(s) covering the same event.
A Lake Minnetonka estate in Deephaven has sold for $18.25 million, becoming Minnesota’s most expensive residential sale on record.
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estate → sell → record
The sale was reported by the Minnesota Star Tribune and Minneapolis/St. Paul Business Journal, while property records and the listing history independently confirm the October 1 closing.
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records → report → closing
Located at 20670 Linwood Road, the lakefront property spans about 2.39 acres and includes 350 feet of shoreline.
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property → locate → shoreline
The contemporary residence measures 10,440 square feet, with five bedrooms, nine bathrooms and a heated six-car garage.
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residence → measure → bedrooms
It was designed by Charles Stinson and completed in 2015 by Streeter Custom Builder.
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It → design → Builder
The land changed hands in 2013 for $3.45 million.
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land → change → million
At the time, the site carried an older 5,145-square-foot house dating to 1956.
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site → carry → 1956
The existing custom-built residence was subsequently constructed on the property and completed in 2015.
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residence → exist → 2015
The estate had initially entered the market at $22 million in August 2025.
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estate → enter → August
It eventually sold for $18.25 million, representing a discount of roughly 17% from the original asking price.
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It → sell → price
The closing took place on October 1, according to the property’s MLS history.
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closing → take → history
Inside, the home is designed around expansive views of Lake Minnetonka.
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home → design → Minnetonka
A large wall of sliding glass doors connects the main living areas with an outdoor terrace, screened porch and infinity pool.
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wall → slide → terrace
The property also includes a chef’s kitchen, separate support kitchen, two offices and glass-enclosed wine storage.
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property → include → kitchen
The lower level adds another layer of luxury, with four junior suites, a bunk room, exercise room, wine cellar, billiards area, bar and recreation space.
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level → add → suites
Outside, the estate has a private sandy beach and a separate lakeside boathouse equipped with a rooftop deck, kitchenette, half-bath, laundry facilities and outdoor shower.
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estate → have → deck
The landscaping was also extensively reworked after the property was acquired.
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property → rework → ?
Earlier reporting on the home said more than 240 mature trees were removed and more than 350 new trees were planted as part of the site’s redesign, helping create a more private setting around the modern residence.
The $18.25 million transaction surpasses the previous Minnesota residential-sale record of $17.5 million, set by another Lake Minnetonka property in 2006.
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transaction → say → 2006
That record had remained in place for roughly two decades.
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record → remain → decades
The new record also highlights the strength of the luxury market around Lake Minnetonka.
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record → highlight → Minnetonka
Recent high-value transactions include a $13.5 million Orono sale in 2023 and a $10 million Wayzata sale that same year.
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transactions → include → 2023
More recently, a Deephaven estate sold for $9.125 million, illustrating the growing number of multimillion-dollar transactions around the lake.
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estate → sell → lake
Yet the $18.25 million property is not the most expensive Lake Minnetonka home currently being offered for sale.
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property → offer → sale
An estate in the Woodland area remains listed at $50 million, while another property was recently placed on the market for $26.5 million.
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property → list → million
Those are asking prices, however, rather than completed transactions, meaning the Linwood Road sale remains the benchmark for an actual residential closing.
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sale → complete → closing
The buyer of the Deephaven estate has not been publicly identified.
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buyer → identify → estate
As the transaction settles into the public record, the sale stands as a striking example of how far the upper end of Minnesota’s residential market has moved since the property last changed hands for $3.45 million in 2013.
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property → settle → 2013
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