Excelsior, Minnesota, continues to be a focal point for real estate activity, with recent data highlighting notable trends in home prices, rental markets, and new developments.
Current Market Trends
As of April 2026, the median listing price for homes in Excelsior stands at $1,685,000, reflecting a 12.34% increase over the past year. The median sold price is $650,000, indicating a 22.62% decrease year-over-year. The median price per square foot is $432, down 7.89% from the previous year. Homes are spending a median of 46 days on the market, a 76.92% increase compared to last year, suggesting a shift towards a more balanced market.
Rental Market Insights
The rental market in Excelsior is also experiencing changes. The median rent is $3,650 per month, with 16 rental properties currently available. This represents a 100% increase in rental listings compared to the previous year, providing more options for prospective tenants.
New Developments
Excelsior is witnessing significant development projects aimed at enhancing the community’s residential offerings. One notable project is One West Drive, the first new residential community in downtown Excelsior in over 50 years. This development comprises seven buildings with 38 apartments and 11 rowhomes, each featuring private, two-stall heated parking garages. Amenities include a spa pool, fitness and yoga studios, a resident garden area, a dog run, and a pet spa. The units boast high-end finishes such as 7-foot solid core doors, minimum ceiling heights of 9 feet 8 inches, designer-inspired kitchens, roller shades, and generous walk-in closets.
Additionally, new construction homes are emerging in the area. For instance, a luxury new construction opportunity in Shorewood features the Cape Cod model with an indoor sport court by Eternity Homes. Set on a 0.45-acre lot within the Minnetonka School District, this 5-bedroom, 5-bathroom home offers a 4-car garage and an exceptional layout, with completion planned for December 2026.
Conclusion
Excelsior’s real estate market is characterized by rising listing prices, a growing rental inventory, and new developments that cater to diverse housing needs. Prospective buyers and renters are encouraged to stay informed about these trends to make well-informed decisions in this evolving market.