Explore Excelsior Real Estate and Homes for Sale

Welcome to Excelsior, MN

Excelsior is a one-square-mile lakeside village on the south shore of Lake Minnetonka, roughly 20 miles west of downtown Minneapolis. It is the kind of place that feels much larger than its footprint, packing a walkable historic downtown, two distinct bays of shoreline, an elite school district, and a calendar of festivals into a community of fewer than 3,000 residents. What sets Excelsior apart from the broader western suburbs is its compactness: because the town is nearly built out and bounded by water, daily life is dense, social, and oriented almost entirely toward the lake. For buyers, that scarcity is the whole story. There is no room to sprawl, so demand concentrates on a fixed and limited supply of homes, which is exactly why values here have held a premium for decades. The sections below walk through the history, geography, lifestyle, market, and practical considerations of living in Excelsior, drawn from years of working in this market.

A Brief History of Excelsior

Excelsior is one of the oldest established communities on Lake Minnetonka, and that lineage is visible on nearly every block. Long before European settlement, the area was home to the Dakota people. The village itself was founded in 1853 by George Bertram and a group of New York pioneers who belonged to the "Excelsior Pioneer Association." They borrowed the name from the Latin word meaning ever upward, which is also the state motto of New York.

By the late 1800s and early 1900s, Excelsior had transformed into a premier summer resort for wealthy families from Minneapolis and beyond. Grand steamboats, most famously the Minnehaha, ferried thousands of passengers across the lake to hotels, picnic grounds, and lakeside attractions. From 1925 until it closed in 1974, the town was also home to the Excelsior Amusement Park, complete with a wooden roller coaster called the Cyclone, a historic carousel, and a ballroom that hosted major musical acts. Local lore even holds that a young Mick Jagger drew inspiration for a famous Rolling Stones song after an encounter with a resident here in 1964.

That resort-era history is not just trivia for a buyer. It explains why Water Street still looks the way it does, why the housing stock includes so many turn-of-the-century homes, and why the town's identity remains so tightly bound to the water.

Where Is Excelsior? Location & Access

Excelsior sits in Hennepin County, tucked against the south bay of Lake Minnetonka in the western suburbs of the Minneapolis–St. Paul metro. It is small and highly walkable, covering only about one square mile, and it sits roughly 20 miles west of downtown Minneapolis.

Getting in and out is straightforward, which is part of why the town works equally well for full-time residents, commuters, and weekend visitors. By car, Minnesota State Highway 7 runs east–west through town and connects to Interstate 494; from downtown Minneapolis, the typical route is I-394 West to Highway 7 West, a drive of about 25 to 35 minutes depending on traffic. For cyclists and pedestrians, Excelsior is a major hub on the Lake Minnetonka LRT Regional Trail, a 15-mile crushed-limestone path built on a former railroad bed that feeds foot and bike traffic straight downtown from neighboring suburbs like Minnetonka and Hopkins. And true to its resort roots, the town is fully accessible by water: public docks at Excelsior Commons let boaters tie up and walk directly into the shopping district.

Life on Lake Minnetonka

In Excelsior, the lake sets the rhythm of daily life. Because the town is packed into just under a square mile, you are never more than a few blocks from the shoreline, and the seasons dictate how the community uses the water.

From Memorial Day through Labor Day, the town hums. The 13-acre Excelsior Commons functions as the community's shared backyard, with crowded public docks, swimming beaches, and the historic Steamboat Minnehaha cruising the bay. On a summer weekend the water fills with pontoons, wakeboarders, and kayakers. When the lake freezes, life simply shifts gears rather than slowing down. Villages of ice-fishing houses appear on South Bay alongside skating loops, snowmobiling, and events like the North American Pond Hockey Championship.

The defining cultural feature is "dock and dine." Residents from across Lake Minnetonka's 100-plus miles of shoreline boat into Excelsior's public docks to grab ice cream, browse Water Street, or eat lakeside at spots like Maynards or Lago Tacos. The result is a coastal vacation-town energy in the middle of Minnesota, and it is one of the biggest reasons buyers fall in love with the place.

The Excelsior Real Estate Market

This is the section buyers and sellers care about most, and the dynamics here are unusual enough to warrant a clear explanation. Excelsior real estate carries a significant premium, driven by three forces working together: a premium lakeside location, well-preserved historic charm, and access to the award-winning Minnetonka School District.

The market is defined by high demand and low inventory. Because the city limits are physically small and almost completely built out, there is virtually no room for new large-scale development. Homes rarely linger on the market, and multi-generational ownership is common, which keeps even fewer properties in circulation. This scarcity also fuels the well-known "teardown" trend: buyers value the location so highly that older mid-century cottages and ramblers are frequently purchased for their lot value alone, then replaced with large custom craftsman or coastal-style homes.

In practice, the market splits into two distinct tiers, and the gap between them is dramatic:

The premium factor is worth underscoring: properties sitting directly on Lake Minnetonka can command double or triple the price per square foot of a home just two blocks inland. Buyers are paying for direct water access and sunset views, not square footage, and understanding that distinction is essential to setting realistic expectations on either side of a transaction.

Neighborhoods & Areas to Know

Because Excelsior is roughly one square mile, it does not have sprawling, traditional suburban neighborhoods. Instead it breaks into small geographic pockets defined by their relationship to the commercial center and the water. Three areas are worth knowing.

The Historic Core (In-Town) is classic tree-lined small-town Americana, occupying the blocks immediately east and west of Water Street. Its grid streets are lined with 19th-century Victorians, craftsman bungalows, and cottages, and the appeal here is total walkability: residents can reach the grocery store, library, pharmacy, and restaurants on foot without ever needing a car.

The Commons & South Bay Front is the energetic, premium heart of the lakeside scene, anchored by the 13-acre Excelsior Commons along the city's northern edge. This zone holds the most coveted properties facing South Bay, a mix of sprawling luxury estates and high-end lakeside condominiums, with direct beach access, park proximity, and panoramic water views. It is the most expensive real estate in the municipality.

Gideon Bay & The West Side is the quiet, secluded, heavily wooded counterpoint, curving around the calmer waters of Gideon Bay on the town's western edge. The historic grid gives way to winding lanes and private, tree-dense lots, with a mix of mid-century ramblers and modern custom builds. It offers a more private lifestyle while staying under a five-minute bike ride from downtown.

Downtown Excelsior & Water Street

Water Street is the cultural and economic heartbeat of Excelsior, and its layout dates to the 19th century, which is why it remains so compact, walkable, and visually cohesive. The street runs just a few blocks from Highway 7 straight down to the lake, lined with preserved brick Victorians, wide sidewalks, and hanging flower baskets.

What you will not find here is a corporate big-box store; the district is intentionally built around independent retail and dining. Long-standing staples include Licks Sweet Treats for ice cream, the Excelsior Brewing Company, and Maynards, which anchors the spot where the street meets the water. On summer weekends the street fills with beachgoers, boaters who have docked at the public piers, and cyclists rolling in off the regional trail. It is, in short, the gathering place that makes the whole town function as a community rather than a collection of houses.

Dining, Cafés & Local Favorites

For a town of fewer than 3,000 residents, the food scene punches well above its weight, blending casual lakefront dining with genuinely upscale cooking and cozy coffee stops.

On the waterfront, Maynards is the undisputed landmark. Established in 1998 on the historic wharf, its sprawling outdoor patio is the premier place on Lake Minnetonka for a burger, waffle fries, and a cold beer after a day on the water. Yumi Japanese Restaurant draws Twin Cities diners for high-end sushi and sashimi in an intimate downtown setting, while Lago Tacos serves fresh, creative street tacos and margaritas on a lively patio that stays busy all summer.

For something lighter, Tommy's Tonka Trolley is a walk-up retro stand in the Commons near the beach, serving ice cream, hot dogs, and snacks to beachgoers, and Licks Sweet Treats is the beloved Water Street ice cream parlor for grabbing a cone on the way to the docks. The Excelsior Brewing Company, while not a café, functions as the town's living room, brewing lake-inspired beers like its Big Island Blond Ale and hosting live music, trivia, and community fundraisers.

Shopping & Boutiques

Shopping in Excelsior is the opposite of a generic mall run. The city has carefully protected its independent retail landscape, making it a destination for upscale apparel, home decor, and unique gifts.

The Golden Rule is a beautifully curated collective of wares, jewelry, art, and home goods from independent makers, functioning as much like a gallery as a store. Oonagh's and Bright Goods are high-end women's clothing boutiques offering personalized styling and contemporary brands you won't find in department stores, while Primp keeps locals stocked with trendy, more affordable seasonal looks. Reflecting the town's history, multi-dealer antique shops scattered through the core are treasure troves for vintage lake maps, nautical decor, mid-century furniture, and Minnesota memorabilia. Interspersed among the storefronts are fine home design studios and artisan shops, which makes the district especially rewarding for anyone chasing a coastal lakehouse aesthetic.

Parks, Recreation & Outdoor Activities

Despite its small footprint, Excelsior delivers outsized recreation, almost all of it organized around the lake and the trail network.

The crown jewel is the Excelsior Commons, 13 pristine acres along the shoreline that have served as the city's primary public park since 1854. It functions as a giant lakeside backyard with a heavily programmed calendar. The park includes two sandy public swimming areas, among them Playground Beach next to a large multi-age playground, along with tennis courts, a basketball court, baseball fields, picnic areas, and fire features. Its recently updated band shell and concessions plaza, built with sustainable architecture, host the Summer Concert Series, community yoga, and the town's Fourth of July fireworks.

Beyond the Commons, the Lake Minnetonka LRT Regional Trail cuts directly through the heart of town. This 15-mile hard-packed limestone path follows a former railroad line, connecting cyclists, runners, and cross-country skiers eastward toward Hopkins and westward around the lake. For those without a boat, the Port of Excelsior offers transient slips for day-trippers and charter docks where historic excursion boats run scenic tours of Lake Minnetonka.

Schools & Education

For families, school access is one of Excelsior's strongest selling points. The city is served entirely by the Minnetonka Public School District (ISD 276), widely regarded as one of the elite public systems in the state and the country.

The district is consistently ranked the #2 best school district in Minnesota and holds a place among the top 50 nationally. Its flagship, Minnetonka High School, posts a nearly 90% Advanced Placement exam pass rate and offers robust International Baccalaureate diploma tracks. The district is also a pioneer in early language acquisition, with full Spanish and Chinese immersion paths available beginning in kindergarten. Closer to home, Excelsior Elementary School sits right in town, highly rated and close enough that many neighborhood children walk or bike to class, which reinforces the close-knit, small-town feel that defines the community.

Community Events & Seasonal Traditions

Excelsior's identity is anchored by deeply rooted seasonal rituals that fill its downtown and lakeside parks year-round, many drawing visitors from across the metro.

The year opens with Arctic Fever in January, a mid-winter celebration built around snow sculpting, ice skating, fat-tire bike racing, and bonfires across frozen South Bay. In March, the Luck o' the Lake 5K sends a festive St. Patrick's Day fun run through downtown and along the lake, ending in a celebration on Water Street. June brings Art on the Lake, an elite two-day festival featuring more than 130 regional and national artists displaying pottery, painting, jewelry, and sculpture against the harbor backdrop, with live music and food trucks.

The Lake Minnetonka 4th of July is the year's biggest event, centered on the Commons with the Firecracker Run, sandcastle contests, a parade, band-shell performances, and fireworks over the water. September's Apple Days, celebrated annually since 1935, is the town's oldest continuous festival, filling Water Street with craft booths, pie contests, cider tastings, and an old-fashioned evening street dance. The year closes with Christmas in Excelsior, a month-long celebration kicking off on Small Business Saturday, complete with European-style holiday markets, carolers, horse-drawn carriage rides, and reindeer visits.

Is Excelsior Right for You?

Choosing Excelsior comes down to matching your budget and lifestyle to what this square-mile enclave actually offers, and an honest assessment cuts both ways.

The case for it is strong. You can live a genuinely walkable life, with coffee, groceries, shopping, the beach, and dinner all reachable on foot or by bike. The town's small size and dense event calendar foster a tight-knit community where you constantly run into neighbors, a feel that is hard to find inside a major metro. Lake Minnetonka is woven directly into the town fabric, so boating, paddleboarding, and ice fishing are part of everyday life, and families gain access to the top-tier Minnetonka ISD 276 schools.

The drawbacks are real and worth weighing. The barrier to entry is high; single-family homes routinely start above $600,000, and lakefront living requires multi-million-dollar capital. Summer weekends bring an influx of day-trippers and beachgoers, so downtown parking gets competitive and the quiet lakeside haven turns lively. And if you value absolute privacy or anonymous suburban sprawl, the town's connected, grid-pocked layout can feel a little close. For the right buyer, none of these are dealbreakers; they are simply the trade-offs that come with one of the most distinctive small towns in the Midwest.

Talk to an Excelsior Real Estate Expert

If you're weighing a move to Excelsior or thinking about selling here, it pays to work with someone who knows this market from the inside. The Ulrich Real Estate Group, led by Beth Ulrich of Compass, has built its reputation on exactly the kind of west-suburban and Lake Minnetonka expertise this guide describes. Beth began her real estate career in 1993 and quickly became one of the top agents in the Twin Cities, later serving as the exclusive salesperson for two luxury condominium developments in downtown Wayzata, where she sold more than $100 million in real estate over four years and ranked 5th in the state in 2017. She brings a rare combination of personal attention and professional drive, along with specific experience guiding first-time buyers, luxury and new-construction clients, relocations, and anyone navigating a transitional phase of life. Her team is deeply tied to the communities they serve, and that local knowledge is precisely what makes the difference in a low-inventory market like this one.

When you're ready to talk through neighborhoods, pricing, or strategy, Beth Ulrich can be reached at (612) 964-7184 or [email protected], with offices at 401 Lake Street East, Unit 200, Wayzata, MN 55391. Whether you're just starting to explore Excelsior or are ready to make a move, the Ulrich Real Estate Group is glad to be a resource.