Homes on Peavey Lake
Lake Minnetonka
Intimate & Peaceful — Scenic Satellite Lake
Peavey Lake (also known as Peavey Pond) is a small, tranquil body of water in Wayzata, located just north of Ferndale Road West. Spanning approximately eight acres and characterized by its shallow depths, it sits north of Browns Bay and west of Lookout Point. …
Median Price
$1.2M
Price Range
$600K+
Avg Days on Market
48 days
Water Depth
6–14 ft
Water Quality
Good
Boat Activity
Very Calm
Peavey Lake from Above
Drone aerial — The PRO Team
Waterfront Shoreline
Prime frontage — 6–14 ft depth
Life on the Lake
Very Calm boat traffic
Overview — Peavey Lake
Peavey Lake (also known as Peavey Pond) is a small, tranquil body of water in Wayzata, located just north of Ferndale Road West. Spanning approximately eight acres and characterized by its shallow depths, it sits north of Browns Bay and west of Lookout Point. This intimate lake offers peaceful lakeside living and proximity to Wayzata's amenities.
Living on Peavey Lake
Peavey Lake is a hidden gem — a quiet, private body of water just minutes from downtown Wayzata. Ideal for kayaking, paddleboarding, and nature observation, it attracts buyers seeking calm and privacy without sacrificing access to the full Wayzata lifestyle.
Summer on the Water
Morning paddles, afternoon regattas, and sunset cruises define lake life from June through September.
Fall Color & Quiet
September and October bring the most dramatic light on the lake — and the most peaceful mornings for year-round residents.
Four-Season Living
Ice fishing, cross-country skiing, and winter stargazing make Lake Minnetonka a genuine year-round community.
Community & Culture
Village walkability, farmers markets, yacht clubs, and local dining create a social fabric unlike any other lake community.
Real Estate Market Insights
Homes on Peavey Lake offer the Wayzata address at a meaningful value relative to full Lake Minnetonka frontage. The small number of lakefront parcels makes properties here rare and sought-after by those who want genuine waterfront privacy.
| Metric | Value | Context |
|---|---|---|
| Median Home Price | $1.2M | Full price range: $600K – $3M |
| Active Listings | ~4 homes | Highly limited inventory — acts fast |
| Avg Days on Market | 48 days | Well-priced homes often see multiple offers |
| Water Depth at Dock | 6–14 ft | Deep water = higher dock permit value |
| Water Quality | Good | Hennepin County monitoring rating |
| Boat Activity Level | Very Calm | Lower activity = quieter lake life |
Common Home Styles on Peavey Lake
Boating & Navigation — Peavey Lake
Peavey Lake is best suited for non-motorized watercraft — kayaks, canoes, and paddleboards. Its shallow depth and intimate size make it a peaceful retreat.
Marinas & Docking
- Access to full lake via Browns Bay / Wayzata Bay (short drive)
Public Boat Launches
- No public launch — private access only
Navigation Conditions at a Glance
Traffic Level
Very Calm
Water Depth
6–14 ft
Water Clarity
Good
Parks & Amenities Near Peavey Lake
Parks & Nature
- Wayzata Bay Regional Park (nearby)
- Lookout Point Trail Access
Waterfront Dining
- Wayzata dining (5-10 min)
Schools & Nearby Communities
Luxury Buyer Benefits — Peavey Lake
Peavey Lake delivers a premium investment profile matched by few addresses in the Midwest. Here's what distinguishes luxury buying on this bay from the broader Lake Minnetonka market — and from competing lake communities nationwide.
Supply-Constrained Appreciation
With only ~4 active listings at any time, Peavey Lake properties appreciate reliably. Fixed shoreline supply and growing demand create a structurally sound investment profile.
Private Dock & LMCD Permit Value
Grandfathered deep-water dock permits on this bay carry intrinsic value of $50K–$200K+. Buyers gain private water access and boat storage that cannot be replicated by new applicants.
Top-Ranked Schools
Proximity to Wayzata School District (9/10) and neighboring districts means access to Minnesota's elite academic ecosystem — consistently ranked among the nation's top suburban school systems.
Lake-Wide Market Outperformance
Homes on Peavey Lake average 48 days on market — a reflection of sustained buyer demand and limited inventory. Historically, well-maintained properties here sell at or above asking price.
Proximity to Minneapolis
20–30 minutes from downtown Minneapolis and major Fortune 500 employers (Target, UHG, Medtronic, General Mills). Lake luxury without the isolation of more remote Wisconsin or Northern Minnesota lakes.
Four-Season Quality of Life
Lakefront living on Lake Minnetonka is not seasonal — it's a full-time lifestyle with summer boating, fall color, winter ice fishing, and spring fishing all within steps of your private dock.
Seller Strategy — Peavey Lake
Selling a lakefront home on Peavey Lake requires expertise that goes beyond standard residential real estate. Dock permit knowledge, lake-specific pricing methodology, and a targeted buyer marketing system are the difference between a quick sale at full value — and a property that lingers on the market.
Precision Lakefront Valuation
We analyze Peavey Lake-specific comparables — not just general lake data. Frontage price per linear foot, dock configuration value ($50K–$200K+), sun orientation, and view quality all factor into our pricing model.
Lake-Specific Marketing
Professional drone photography from above and at water level, targeted digital campaigns reaching high-net-worth buyers in Minneapolis, Chicago, and nationally, and direct outreach to our pre-qualified lake buyer database.
Strategic Market Timing
The strongest lake demand materializes March–July. Buyers seeking summer possession begin searching in January. We advise on pre-listing preparation timelines and bay-specific seasonal inventory cycles.
Dock & Disclosure Audit
Pre-listing LMCD permit audit, riparian rights documentation review, and seller disclosure coaching protect your transaction from buyer-side inspection surprises that derail closings.
Emphasize the Wayzata address and school district as the primary draws
Market to buyers seeking private, quiet lake living near a premier walkable city
The rarity of listings here is a selling point — limited competition
FAQs about Peavey Lake
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Peavey Lake Specialist
Free consultation with a lake agent who knows Peavey Lake's dock regulations, off-market inventory, and exact market timing.
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Explore the Full Lake
All Bays on Lake Minnetonka
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Peavey Lake
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