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Tonka Bay, MN Homes for Sale

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  • /64

    $3,985,000

    • 5 Beds
    • 4.5 Baths
    • 5,088 Sq Ft

    165 Mound Ave, Excelsior, MN 55331

    Like brand new but better!! Luxury lakeside living on A-rated Gideon Bay with panoramic views. Situated on an extra-deep lot, this custom 2021 build has 51' of sandy lake shore and a private beach. There is a chef's kitchen with a 10ft island, an 8-burner Thermador gas induction range and a dedicated back prep area. The stunning primary suite offers lake views, a spacious walk-in closet, and a

    Angela Richter RE/MAX Results

    165 Mound Ave, Excelsior, MN 55331
  • /61

    $1,399,000

    • 1 Bed
    • 2 Baths
    • 1,520 Sq Ft

    475 Lakeview Ave, Excelsior, MN 55331

    Opportunity knocks. Offered for the first time in over 50 years. Nestled on a secluded no-outlet road, this unique lake home offers the perfect blend of tranquility, charm, and untapped potential. Just steps away from the water’s edge with 40 feet of South facing lakeshore on Gideon's Bay, boasting breathtaking panoramic lake views. Enjoy the spacious screened-in deck, designed to soak in the

    Kerby Skurat RE/MAX Results

    475 Lakeview Ave, Excelsior, MN 55331
  • /33

    $1,650,000

    • 3 Beds
    • 2 Baths
    • 2,011 Sq Ft

    10 Woodlane St, Excelsior, MN 55331

    51 feet of sandy beach lakefront on the exceptional Gideon Bay. A quiet, stunning corner of Lake Minnetonka (rated Grade A water quality). Elevated panoramic views. Available now to enjoy all Summer long. Home is poised for a teardown or remodel – though very livable while you plan.  3 bedrooms, 2 baths. Updated kitchen, separate dining room and oversized living room – with amazing lake views.

    Steve Smillie Edina Realty, Inc.

    10 Woodlane St, Excelsior, MN 55331
  • /54

    $1,199,000

    • 3 Beds
    • 2.5 Baths
    • 2,615 Sq Ft

    30 Interlachen Ln, Excelsior, MN 55331

    This is a rare opportunity to enjoy lake life in a newly renovated walk-out with owned out-lot and dock/lift on Lake Minnetonka. Every room in this home has been updated: new Windows, Doors, Furnace, and Roof (with 50 year transferable warranty)! This 3 bedroom, 3 bath home is a Must-See; situated only 3 miles from downtown Excelsior and 1 mile from groceries, restaurants, hardware store, and gas

    Paul Larson Coldwell Banker Realty

    30 Interlachen Ln, Excelsior, MN 55331
  • /4

    $2,995,000

    • Land
    • 0.41 Acre
    • $7,304,878 per Acre

    4330 Manitou Rd, Excelsior, MN 55331

    Breathtaking setting offering unparalleled west-facing sunset views overlooking 100'+ of level rip-rap shoreline. “A” grade water quality. Adjacent fire lane creates an additional buffer. Ideally located between Wayzata and Excelsior. Bring the builder of your choice!

    Jeffrey Dewing Coldwell Banker Realty

    4330 Manitou Rd, Excelsior, MN 55331
  • /48

    $1,310,000 Open Wed 12PM - 2PM

    • 3 Beds
    • 2.5 Baths
    • 2,988 Sq Ft

    5651 Buffington Ln, Shorewood, MN 55331

    Introducing Lake Park Villas, an exclusive community of 11 luxury main-level living twin homes. These new construction residences are a design-build collaboration between Architect, Jeff Ziebarth, and Builder, ADOR Bespoke Homes. Crafted with exceptional attention to detail, each thoughtfully designed three bedroom, three bathroom villa offers 2,988 finished square feet. Inside, white oak wood

    Sarah Polovitz Compass

    5651 Buffington Ln, Shorewood, MN 55331
  • /48

    $1,299,000 New Construction

    • 3 Beds
    • 2.5 Baths
    • 2,988 Sq Ft

    5655 Buffington Ln, Shorewood, MN 55331

    Introducing Lake Park Villas, an exclusive community of 11 luxury main-level living twin homes. These new construction residences are a design-build collaboration between Architect, Jeff Ziebarth, and Builder, ADOR Bespoke Homes. Crafted with exceptional attention to detail, each thoughtfully designed three bedroom, three bathroom villa offers 2,988 finished square feet. Inside, white oak wood

    Sarah Polovitz Compass

    5655 Buffington Ln, Shorewood, MN 55331
  • /8

    $4,895,000 New Construction

    • 3 Beds
    • 3.5 Baths
    • 3,713 Sq Ft

    4330 Manitou Rd, Excelsior, MN 55331

    Gorgeous to-be-built home by James McNeal Architecture and Design, and built by Water Street Homes! Enjoy this stunning condo-alternative offering one-level living and an open floorplan showcasing beautiful water views at every turn! Tranquil lakeside Primary Suite with spa-like bath; junior suite; office; and 3rd bedroom/flex room. 3-car heated garage with epoxy floor. Breathtaking west facing

    Jeffrey Dewing Coldwell Banker Realty

    4330 Manitou Rd, Excelsior, MN 55331
  • /29

    $2,395,000 New Construction

    • 3 Beds
    • 2 Baths
    • 2,616 Sq Ft

    4650 Manitou Rd, Excelsior, MN 55331

    Bayview, an exciting new, warm contemporary design that may be modified to meet buyers satisfaction. The lot provides westerly views of Lake Minnetonka and northeasterly views of a wetland in the distance. Stunning, Architectural work provided by Alexander Design Group. All Main Level Living. Property is assigned to the award winning, Minnetonka School district. Outdoor Pool is optional. Contact

    Cindy Redmond Coldwell Banker Realty

    4650 Manitou Rd, Excelsior, MN 55331
  • /32

    $1,450,000 New Construction

    • 3 Beds
    • 2.5 Baths
    • 2,988 Sq Ft

    5615 Buffington Ln, Shorewood, MN 55331

    Executive main level living with a convenient location to downtown Excelsior. Luxury and thoughtful design featuring an open and airy floor plan with light pouring in. Gourmet kitchen boasts custom cabinetry, Signature Series appliances, and quartz countertops. Spacious main level primary room with private bathroom and upgraded walk in closet. Primary bathroom includes walk in tile shower,

    Alexander Trapp Keller Williams Premier Realty Lake Minnetonka

    5615 Buffington Ln, Shorewood, MN 55331

Why Live in Tonka Bay

Tonka Bay, MN, is a small lakeside community on Lake Minnetonka, just under one square mile in size and located 20 miles west of downtown Minneapolis. Known for its luxurious lake life and active lifestyle, Tonka Bay offers a picturesque setting that feels like a vacation year-round. The city has a rich history, including the propagation of the Wealthy apple by horticulturist Peter Gideon in 1864 and the establishment of the Tonka Bay Marina on Echo Bay. The real estate market is highly competitive, with lakefront homes driving up prices, and limited inventory under $1 million. Families are served by the Minnetonka Public School District, which is highly rated and offers programs such as Spanish language immersion at Minnewashta Elementary School. Tonka Bay has limited commercial development, but residents can enjoy local dining at Caribou Coffee and Hazelwood Food and Drink, or recreational activities at Country Club Lanes. The community features expansive green spaces, public parks, and water access, with wildlife sightings common in residential areas. Manitou Park is undergoing renovations to include new baseball fields, a playground, and a hockey rink. Tonka Bay is investing in infrastructure improvements, including water main replacements and road resurfacing, enhancing the quality of life for its residents.

Frequently Asked Questions

What is the average home price in Tonka Bay, MN?
Homes for sale in Tonka Bay, MN have an average home price of $1,756,392.
Are home prices dropping in Tonka Bay?
Yes, home prices in Tonka Bay are down 9% in the last 12 months.
How many homes have sold over the last 12 months in Tonka Bay, MN?
10 homes have sold in Tonka Bay, MN over the last 12 months.
What are the most popular zip codes in Tonka Bay, MN?
The most popular zip codes in Tonka Bay, MN include 55331, 55391, 55384, 55317 and 55364.
How much do you need to make to afford a house in Tonka Bay?
The median home price in Tonka Bay is $1,650,000. If you put a 20% down payment of $330,000 and had a 30-year fixed mortgage with an interest rate of 6.72%, your estimated principal and interest payment would be $8,540 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $366K a year to afford the median home price in Tonka Bay.
How are the schools in Tonka Bay, MN?
Tonka Bay, MN has highly rated public and private schools. Some of the best schools in Tonka Bay based on Niche Grades are Minnetonka Senior High School, Grandview Middle School and Minnewashta Elementary School. Browse all the schools in Tonka Bay, MN to learn more.

Home Trends in Tonka Bay, MN

Housing Trends

Median Sale Price
$1,932,500
Median Single Family Sale Price
$1,697,500
Median Townhouse Sale Price
$895,000
Average Price Per Sq Ft
$561
Number of Homes for Sale
5
Last 12 months Home Sales
10
Months of Supply
6.00
Median List Price
$1,650,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
24%
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