Wayzata's real estate market is experiencing a price correction, with values down 40.9% from last year. Home prices have increased 4.7% in the past month alone. With 2.8 months of supply, Wayzata's inventory levels remain relatively tight. Transaction volume is up 80% compared to what's typically expected this time of year. Only 8.0% of listings saw price reductions, suggesting sellers are confident in their pricing. Only 11.1% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Wayzata market with the affordability index at 792.2. Looking ahead, the Wayzata market is expected to maintain its current trajectory with relatively stable conditions.