In a market where most homes around Lake Minnetonka are multi-level designs built on large lots, true one-level living is hard to find. That scarcity is exactly what makes Daniel Gustafson’s new Coldwell Banker listing at 6040 Oakview Court in Shorewood notable.
The home offers the convenience of a main-floor primary suite, open living spaces, and a finished walkout lower level—all set within the Minnetonka School District. Vaulted ceilings, Brazilian cherry floors, and a stone fireplace with built-ins anchor the main level, while a spacious kitchen and deck overlooking a wooded backdrop highlight the property’s sense of comfort and connection.
Downstairs, two additional bedrooms, a full bath, a den, and a family room with a second fireplace expand the living options. A front porch, patio, and deck provide multiple ways to enjoy the outdoors. Recent updates—including a new roof, driveway, and mechanicals—make the home move-in ready.
For Gustafson, a Realtor specializing in the 14 communities and 4 school districts surrounding Lake Minnetonka, the home underscores how rare one-level layouts are in this area. “Most of the land around the lake was developed decades ago, which means we don’t see many new one-level homes being built here,” Gustafson said. “If you go to places like Chanhassen, Chaska, St. Michael, or Albertville, single-level layouts are much easier to come by. Around Lake Minnetonka, it’s rare—and that makes this Shorewood property stand out.”
Location adds to the home’s appeal. From Oakview Court, downtown Excelsior is just minutes away. The Commons park and beach, Maynards on the water, the historic Dock Theater, and community favorites like Dunn Brothers Coffee and Haskell’s are all within a short drive or bike ride. Lake access, boutique shopping, and dining are at your fingertips—while Wayzata’s lakefront and Panoway are only a few miles in the other direction.
Shorewood itself has a distinctive history. Incorporated in 1956, the community evolved from farmland and summer cottages into a wooded residential city, retaining a quiet character while offering quick access to Excelsior, Wayzata, and regional trails. The Oakview Court home reflects that balance—peaceful, practical, and deeply connected to the Lake Minnetonka lifestyle.
For Gustafson, the listing illustrates what continues to draw people to the lake. “It’s about quality of life,” he said. “One-level living here isn’t just convenience—it’s about staying connected to the communities and history that make Lake Minnetonka one of the most desirable places to live.”
For a private showing, reach out to Daniel Gustafson at 952-473-1000.
Editor’s note: Daniel Gustafson is the publisher of Wayzata.com and is affiliated with Coldwell Banker in Wayzata.
Tucked under a canopy of trees along one of Wayzata’s most storied corridors, a hidden gem awaits at 250 Bushaway Road #C—a Prairie School-style carriage house available now as a rare month-to-month rental. Listed at $2,999/month, this architectural stunner brings history, serenity, and modern comfort together in one unforgettable home.
Originally designed in 1912 by famed architects William Gray Purcell and George Grant Elmslie, the home is a masterclass in Prairie-style design. Think clean horizontal lines, richly crafted millwork, and a natural connection between indoor and outdoor spaces. The structure—once part of a grand estate—has been lovingly converted into a private residence, offering 1,051 square feet of bright, open living.
Inside, the two-bedroom, one-bath layout is both practical and elegant. Hardwood and tiled floors run throughout the upper level, where sunlight pours through generous windows into a warm, inviting living room. The kitchen features stainless steel appliances and clever cabinetry that flows seamlessly into the shared living/dining space—ideal for quiet nights in or entertaining guests.
While the home itself is historic, the amenities are current: central air, in-unit laundry, and plenty of storage. There’s even assigned off-street parking, a must-have for those living so close to downtown Wayzata.
Outside, the location truly shines. Nestled in a private, wooded two-acre setting, the home is just minutes from Lake Minnetonka, Wayzata Beach and Marina, and the area’s vibrant shopping and dining scene. Grab your morning coffee from Starbucks, stroll the lakefront, or pop into grocers and boutiques—all less than five minutes away.
Pets are welcome too—with two cats or one small dog (under 10 pounds) permitted per rental terms.
Whether you’re testing the waters of Wayzata living, remodeling nearby, or seeking an artist’s hideaway, this home offers a flexible lease and an unbeatable setting in one of Minnesota’s most coveted ZIP codes.
Available now. Showings by appointment. Gimme shelter? This one’s the real deal.
City Manager Jeff Dahl and Mayor Andrew Mullin at the first ever Wayzata Business Council.
Wayzata has long been a destination city, attracting visitors with its thriving restaurant scene, lakeside charm, and business-friendly environment. But as the community grows, so do the demands on public services, infrastructure, and public safety.
At the first-ever Wayzata Business Council meeting on March 20, 2025, City Manager Jeff Dahl and Mayor Andrew Mullin addressed local business leaders, outlining the city’s economic trajectory, current development projects, and the financial challenges that come with success. The event was hosted by the Wayzata West Metro Chamber of Commerce, although membership was not required for attendance.
Development and the Evolving Landscape of Wayzata
City Manager Jeff Dahl provided an overview of key developments shaping Wayzata’s business district. From long-anticipated projects breaking ground to pending proposals, he underscored the impact of ongoing growth.
In discussing the Promenade commercial space, Dahl stated, “We expect some of those vacancies to fill up,” highlighting the progress on long-vacant spaces.
Dahl also briefly summarized key developments underway in Wayzata:
Wells Fargo Redevelopment – A transformative project adding 70 residential units, including townhomes and apartments along Superior Boulevard.
201 Lake Street – A 30-unit condo development replacing the old Coldwell Banker Burnet building, led by developer Lowell Zitzloff.
Moments of Wayzata – A modern senior living facility set to replace Meridian Manor, addressing the need for updated housing options for older residents.
Lamborghini Dealership – A major proposal at Wayzata Boulevard and Central Avenue, replacing a long-abandoned gas station with a high-end showroom.
Dahl emphasized that while new developments enhance Wayzata’s vibrancy, they also place increased demand on public works, police presence, and infrastructure maintenance.
“We’ve got Panoway, we’ve got successful business development happneing, a lot of new restaurants, and a lot of people with the pandemic and unrest in the central cities. We have seen a shift of activity from Minneapolis to other area like Wayzata. We are popular, and people want to be here,” he explained.
“It’s not without a cost, because of the activity, our public works crews are out more often cleaning.” To manage these growing demands, city leaders have been forced to examine new revenue streams—one of which may be a local food and beverage sales tax.
The Financial Reality: Rising Costs & Tax Pressures
Mayor Andrew Mullin took the stage to provide historical context on Wayzata’s financial challenges that began in 2008.
Mullin reflected on his 17 years in and out of local politics, recalling how the city deliberately sought to attract independent restaurants and create a welcoming environment for visitors.
Mullin stated, “…the two things we focused on to revitalize downtown were the Panoway project, which started as a small initiative, and attracting independently owned restaurants by making it easy for them to set up here, open their doors, and create inviting spaces with beautiful patios and great food.”
That strategy has undeniably succeeded, but it has also led to rising costs in maintaining public safety and infrastructure.
With property tax levies up 40% over the past four years, commercial property owners—who pass these costs on to tenants—are feeling the squeeze.
Mullin addressed how the increasing need for public safety funding has grown, “…the current trend in generating revenue to fund police services is not sustainable.”
Why a Sales Tax?
To help alleviate this financial strain, Wayzata is considering a food and beverage sales tax, which would capture revenue from visitors rather than solely taxing property owners and businesses.
Mullin acknowledged concerns but pointed to Excelsior’s existing local area sales tax as an example, noting that it has not deterred customers or hurt businesses there.
The mayor used his own property assessment to highlight the issue, noting that under the proposed food and beverage tax, he would need to spend $30,000 in downtown Wayzata to match his annual and recurring $144 property tax increase.
“For context, at a half percent, $100 is fifty cents… and for a $10,000 wedding bill, it’s fifty dollars,” he said. “So we don’t think it’s significant pass-through to the person visiting or buying food and beverage in Wayzata.”
Mullin also clarified that the city cannot impose this tax at this time, “We currently have no ability to implement it. The legislature will not allow any city to impose a sales tax on its own at this time, and we don’t yet know how it will unfold.”
While the plan is not yet approved, Wayzata leaders are actively engaging businesses to gather input before moving forward.
Next Steps & Business Input
Mullin made it clear that city leadership wants to hear from business owners before taking any further action.
“We owe it to you to hear your concerns,” he told the crowd. “If 6Smith and the Hotel Landing and Red Cow and CoV and who else is here in the food and beverage [industry]… if I don’t hear from you, I’m going to be disappointed.” He also indicated he has reached out personally to each restaurant in town.
With additional town halls and business forums planned, Wayzata officials aim to ensure that any revenue solution benefits both the city and its business community—without placing an undue burden on the very entrepreneurs who have made Wayzata a success.
Located along prestigious Bushaway Road, a rare 2-acre lot has become available, offering a remarkable opportunity for discerning buyers to craft a custom home in one of Wayzata’s most storied neighborhoods. This exclusive property, surrounded by elegant estates, combines privacy, natural beauty, and unparalleled access to the vibrant Wayzata lifestyle.
Located just minutes from the shores of iconic Lake Minnetonka, this lot provides a tranquil retreat while remaining conveniently close to downtown Wayzata. Known for its exceptional dining, boutique shopping, and the scenic Panoway Plaza, Wayzata offers residents a lifestyle that seamlessly blends sophistication with small-town charm.
“This is more than a piece of land—it’s an invitation to design and build a home that reflects your vision, in a setting that embodies luxury and community,” said Daniel Gustafson, a top realtor specializing in Wayzata and Lake Minnetonka area properties.
Students will appreciate access to the highly ranked Wayzata Public Schools, consistently recognized among Minnesota’s best, as well as an abundance of private school options nearby. The community itself is a hub of activity, with year-round events such as James J. Hill Days and a wide array of clubs and organizations that foster connection and camaraderie.
Open to any builder, the property offers the flexibility to choose your own team or tap into a network of the finest builders and architects in the state. “We’re proud to offer access to the very best in the industry,” Gustafson added. “Our exclusive referrals include renowned professionals who are experts at turning dreams into reality.”
Bushaway Road, steeped in history and lined with mature trees, has long been one of Wayzata’s most distinguished addresses. With downtown Minneapolis just 11 miles away, the property provides the ideal balance of seclusion and accessibility, appealing to those seeking both convenience and an elevated lifestyle.
For more information on this one-of-a-kind property or to arrange a private showing, contact Daniel Gustafson at Coldwell Banker Realty by calling (952) 473-1000. This is an opportunity that discerning buyers won’t want to miss.
Editor’s Note: Daniel Gustafson, a top realtor in the Lake Minnetonka and Wayzata area, is also the publisher of Wayzata.com.
Market Snapshot, Wayzata Schools: Volume (September): $832,194,423 Median Sales Price: $685,000 Median Price per Square Foot: $228 New Listings (September): 1,680 Months of Supply: 2.6 months Median Days on Market: 22 days
The district remains a top destination thanks to its renowned schools and high quality of life. Buyers are eager to secure homes here, pushing the average property to sell within just 22 days. With only 2.6 months of supply on the market, inventory remains tight, especially in high-demand areas like Wayzata, Plymouth, and Orono.
I’ve helped countless families navigate this fast-moving market, and the key is preparation. Whether you’re a buyer or seller, understanding the pace of the market is essential to making informed decisions.
Luxury Properties and High-End Demand
Lake Minnetonka and the surrounding areas continue to attract buyers interested in luxury homes, ranging from $1.5 million to over $10 million. These exclusive properties offer prime lakefront views, sprawling estates, and modern amenities. Despite higher price points, these homes are moving quickly due to strong demand from out-of-state buyers and local professionals alike.
Having worked with numerous high-net-worth clients in the luxury market, I understand what it takes to stand out in this competitive space. Whether you’re looking to buy or sell a premier property, you need a partner who can expertly navigate these high-stakes transactions.
Seller’s Market: Maximum Value for Sellers
With 1,680 new listings in September and dollar volume topping $832 million, it’s a great time to be a seller in the Wayzata School District. The combination of limited supply and eager buyers is driving up prices and leading to multiple-offer situations.
If you’ve been on the fence about selling, now is the time to act. I’ve helped sellers in this market achieve exceptional results by accurately pricing homes and crafting strong marketing strategies. In a market like this, the right approach can make all the difference.
Investment Opportunities and Strong Rental Market
With such strong demand, there are excellent opportunities for investors, particularly in the rental market. Families looking to rent in the district for access to its top-tier schools are driving up rental demand. Well-positioned properties can yield solid returns, both in terms of rental income and long-term appreciation.
I’ve worked with numerous investors in identifying key properties that offer high potential for growth. Whether you’re looking for a single-family rental or an investment property in a prime neighborhood, I can guide you to the best opportunities.
Looking Ahead: The Future of the Market
With only 2.6 months of supply, rising prices, and ongoing demand, property values are expected to continue increasing in the Wayzata School District. Whether you’re buying, selling, or investing, it’s crucial to work with someone who truly understands this dynamic market and can help you maximize your investment.
Time to move? Let’s talk
Considering a move in the Wayzata School District? Let’s connect and explore your options in this thriving market. Call or text Daniel & Elisha Gustafson at (952) 473-1000 to start a discussion today!
Daniel & Elisha Gustafson are Realtors affiliated with Coldwell Banker in Wayzata. Info deemed reliable, but not guaranteed. All real estate services and marketing materials comply with the Federal Fair Housing Act, which prohibits discrimination based on race, color, national origin, religion, sex, familial status, or disability. We are committed to promoting equal housing opportunities for all individuals. If you have any questions or concerns regarding fair housing practices, please contact us for more information.
A stylish townhome in Minnetonka just saw a notable price reduction, making it an even more attractive option for prospective buyers. Originally listed at $499,000, the 2-bedroom, 4-bath property is now priced at $474,900. The townhouse, offering 2,051 square feet of modern living space, features upscale finishes and an inviting atmosphere.
The home, located at 17785 Valley Cove Court, Minnetonka, MN 55345 boasts a bright and airy interior, with a sleek white kitchen equipped with granite countertops and stainless steel appliances. A spacious deck overlooks peaceful, wooded views, providing the perfect spot for a morning cup of coffee. A recently finished lower level offers additional living space, adding to the home’s versatility and charm.
Located in a prime location, the property is across from Bennett Park and just minutes from popular spots like Deephaven Beach, Grays Bay Boat Ramp, and LifeTime Fitness. Nearby favorites like Caribou Coffee, Lakewinds Co-op, and Snuffy’s Malt Shop make this an ideal location for homeowners looking for convenience and community amenities. Families will also appreciate the townhome’s location within the highly regarded Minnetonka School District, with Groveland Elementary and Minnetonka Middle School East close by.
An open house will be held this weekend, with showings available Saturday from 10 a.m. to noon and Sunday from noon to 2 p.m. For football fans, the Minnesota versus Green Bay football game will be on in the background during Sunday’s open house.
Interested buyers are encouraged to stop by to experience this standout home in a prime Minnetonka neighborhood. Stop out and meet Daniel & Elisha Gustafson of Coldwell Banker Realty in Wayzata, who have the listing.
An update from Coldwell Banker agents Daniel & Elisha Gustafson
As we enter fall, the real estate markets for Wayzata and the broader Wayzata School District are showcasing some interesting differences. Whether you’re considering buying or selling, understanding these nuances can help you navigate the current landscape.
Fall Market Opportunities for Buyers in Wayzata
If you’re looking to buy in Wayzata, fall brings a more balanced market with unique opportunities. In August, new listings in Wayzata dropped by 20%, while closed sales were down by 10%. Fewer listings can mean less competition, giving you more room to explore potential properties at a measured pace. Sellers, particularly those eager to close before the winter, may be more open to negotiations.
For buyers interested in family-friendly neighborhoods within the Wayzata School District, homes remain a strong investment. Compared to Wayzata proper, the school district as a whole has seen a more robust market, with new listings up by a remarkable 53.5% this year. Closed sales have increased by 17.1%, signaling steady demand. Whether you’re searching for lakefront properties or homes closer to top-rated schools, fall is still a prime time to find your dream home in this desirable district.
Sellers: How to Make Your Property Stand Out
Despite a slight dip in closed sales, Wayzata remains an attractive market, particularly for luxury homes. This fall, sellers in Wayzata may face longer listing periods, with the average days on market up to 102—an increase of 155%. However, the high demand within the Wayzata School District offsets some of these trends, with homes generally moving faster in surrounding areas.
For sellers, this means fall is the perfect time to focus on curb appeal and staging. Highlighting the cozy, fall-ready aspects of your home—whether it’s a fireplace, outdoor entertaining spaces, or scenic lake views—can help attract buyers who want to settle in before the holidays. Additionally, homes in the Wayzata School District continue to receive strong offers, with 97.3% of original list price being received on average.
Market Trends: Pricing and Inventory
Overall, median sales prices have remained steady in Wayzata, holding at $1.425 million in August. However, the average sales price has seen a 21.5% drop, falling to $1.3 million from $1.65 million, driven by lower-priced sales. For the broader Wayzata School District, the average price per square foot has increased by 8.7%, reflecting the strong demand for homes in this area.
Inventory is another key factor this fall. In Wayzata, the inventory of homes for sale has jumped by 75%, with six months of supply now available. For buyers, this means more options, while sellers need to be strategic in pricing and marketing their homes to stand out.
Why Wayzata and Wayzata Schools Are Always in Demand
Wayzata continues to be one of the most desirable places to live in Minnesota, thanks to its lakeside charm, vibrant community, and access to top-rated schools. Even as the market shifts, the appeal of the Wayzata School District remains strong. Families are drawn to the exceptional educational opportunities, while professionals and retirees appreciate the proximity to Lake Minnetonka and downtown amenities.
If you’re looking to make a move this fall, whether to buy or sell, I’m here to provide expert guidance and help you navigate the unique dynamics of the Wayzata real estate market. With deep local expertise, I can help you make the most of this exciting time to invest in one of Minnesota’s most desirable communities.
Reach out today to learn more about how we can achieve your real estate goals this season.
Daniel Gustafson & Elisha Gustafson Realtors
Daniel & Elisha Gustafson Coldwell Banker Realty Wayzata (952) 473-1000
Coldwell Banker Realty has announced the appointment of Lisa Norton as the new Assistant Branch Manager of its Wayzata office. Norton, a highly respected real estate professional with nearly two decades of experience, is recognized for her industry knowledge, passion for helping others, and dedication to client service.
Throughout her career, Norton has built a reputation for delivering exceptional results for her clients. She is known for her boundless energy, creativity, and commitment to enhancing the Wayzata office’s operations. Her leadership is expected to play a key role in the continued success of the Coldwell Banker team.
“Lisa brings extensive industry knowledge, unrivaled energy, and an unmistakable dedication to the enhancement of our Wayzata office. We are beyond excited to have her as a partner and are eager to see the great things to come,” the company said in a statement.
A client testimonial highlights Norton’s impact: “Lisa is not only very professional, knowledgeable, and savvy… she is a delight to work with! Lisa clearly cared about me and made sure I had everything I needed. You will love your experience with her.”
Norton’s appointment marks a new chapter for Coldwell Banker Realty in Wayzata, as she is expected to foster growth and innovation within the branch, continuing to deliver high-quality service to clients throughout the Lake Minnetonka area.
The Wayzata real estate market showed a variety of trends in July 2024, with notable fluctuations across key metrics. In this article, we’ll take a deep dive into the latest numbers, highlight notable sales, and explore the most recent data from the Minneapolis Area Realtors, providing an in-depth look at what’s happening in this small but active market.
New Listings
New listings in Wayzata surged by 40%, from 10 in July 2023 to 14 this year, reflecting renewed seller confidence. Year-to-date, new listings have increased by an impressive 63.5%, signaling a healthy influx of available homes.
Closed Sales
However, closed sales showed a contrasting trend, dropping 23.1% from 13 last year to just 10 in July 2024. Despite this decline in monthly closings, the year-to-date figures tell a more encouraging story, with a 13.9% increase in closed sales for the year so far, from 72 in 2023 to 82 in 2024.
Price movements showed even more variability. The median sales price fell sharply in July, down 42.6% from $2,825,000 in 2023 to $1,622,500 in 2024, largely due to a higher number of lower-priced homes entering the market. Nonetheless, the median price for the year has risen by 8.1%, reaching $1,067,500. The average sales price for July also dipped slightly by 7.4% to $2,197,682, while the year-to-date average of $1,572,992 reflects only a modest 1.5% decrease from the previous year.
Price Per Square Foot
The price per square foot climbed by 5.9% for the month and 16.6% year-to-date, indicating continued strength in the value of Wayzata properties. However, homes are spending more time on the market, with the average days on market increasing by 104.3%—from 69 days last July to 141 days this year. This longer selling period may be tied to the significant rise in inventory, which grew by 76%, giving buyers more options and leading to a more balanced market.
Percent of Original Sale Price
Sellers are also benefiting from improved sale conditions, receiving 102.9% of their original list price on average, up 3.4% from last year. This suggests that buyers remain willing to meet or exceed asking prices, despite some of the market’s price fluctuations.
Notable Sales
161 Ferndale Road South closed for $6,738,417 on July 31, 2024, Edina Realty was the listing broker.
1030 Lake Street East closed for $5,394,400 on July 31, 2024 as well, Coldwell Banker was the listing broker.
Because Wayzata is a smaller and more specialized market, these swings can sometimes seem dramatic compared to larger, neighboring cities like Plymouth or Minneapolis. Overall, the market remains active, with new listings and year-to-date closed sales trending positively.
Ready to Buy or Sell?
For more information about the local market or to explore buying and selling opportunities, call Daniel & Elisha Gustafson today, or visit their website specializing in Wayzata Real Estate & Wayzata Homes for Sale.
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Information deemed reliable but not guaranteed. Source: Minneapolis Area Realtors. Daniel Gustafson is the publisher of Wayzata.com, and a licensed Realtor affiliated with Coldwell Banker in Wayzata, MN.
The Wayzata Real Estate market experienced a dramatic surge in activity and prices in April compared to the same period of time in 2023.
As we move further into 2024, the latest market data reveals significant trends and shifts that are shaping the local housing landscape.
View the latest listings in Wayzata by clicking here:
Surge in New Listings and Closed Sales
One of the most notable changes is the sharp increase in new listings.
In April 2024, Wayzata saw 25 new properties come onto the market, a staggering 316.7% increase from the mere six new listings in April 2023.
This influx of new listings provides a broader selection for potential buyers and reflects growing confidence among sellers in the current market conditions.
Closed sales also doubled, rising from 3 in April 2023 to 6 in April 2024, representing a 100% increase.
This uptick in closed transactions indicates strong buyer demand and a competitive market where homes are being snapped up more quickly.
Significant Price Appreciation
Home prices in Wayzata have seen remarkable growth over the past year.
The median sales price soared by 71.4%, climbing from $525,000 in April 2023 to $900,000 in April 2024.
The average sales price also experienced a dramatic rise, increasing by 147.0% to reach $1,327,500 from last year’s $537,534.
This price surge underscores Wayzata’s desirability and the high value placed on properties in our community.
Price per square foot rose by 11.3%, indicating that buyers are willing to pay more per unit of space, a trend that aligns with the overall price increases.
Market Efficiency and Inventory
The speed of sales has notably improved, with the average days on market dropping by 62.2%, from 45 days in April 2023 to just 17 days in April 2024.
This rapid turnaround reflects a hot market where buyers need to act quickly to secure their desired properties.
The inventory of Wayzata homes for sale nearly doubled, increasing by 95.2% from 21 homes in April 2023 to 41 homes in April 2024.
Despite this increase, the months’ supply of inventory is still tight at 5.5 months, up 44.7% from the previous year’s 3.8 months.
A balanced market typically has around six months of inventory, so Wayzata is edging towards equilibrium but remains a seller’s market.
For sellers, this is an opportune time to list your property, as high demand and rising prices can lead to lucrative deals.
Preparing your home to meet buyers’ expectations and pricing it appropriately is crucial to capitalizing on current market conditions.
Buyers should be prepared for a competitive market. Acting swiftly and being ready with financing can make a significant difference.
Despite rising prices, the increase in inventory provides more choices, potentially easing some of the competitive pressures.
Conclusion
The Wayzata Real Estate market in April 2024 demonstrates robust growth and dynamic activity.
With significant increases in listings, sales, and prices, both buyers and sellers are positioned to benefit from the current trends.
As always, working with a knowledgeable and experienced realtor can help navigate this evolving market landscape to make informed and strategic decisions.
For more detailed insights and personalized advice, feel free to reach out. Together, we can make the most of Wayzata’s vibrant real estate opportunities.
Daniel Gustafson is a luxury realtor in Wayzata, Minnesota, known for his expertise and exceptional service in the local real estate market. Gustafson is affiliated with Coldwell Banker Realty.
Data provided by Minneapolis Association of Realtors. Information deemed reliable but not guaranteed. Activity for one month can sometimes look extreme due to small sample size.
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