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Actor Josh Hartnett's Minneapolis house sells for $2.3M

Star Tribune photo by Kelly Smith

Star Tribune photo by Kelly Smith

An unnamed buyer paid $2.3 million for Josh Hartnett's south Minneapolis house, which closed on June 10, according to a certificate of real estate value recently made public. After hitting the market in January for $2.395 the deal went pending in early February - an enviable market time for an upper-bracket house, which can linger on the market for years.

The buyer is listed as LakeView Properties, a LLC with an Avenue of the Americas addresss in New York City. Public docs show the buyer made a $575,000 down payment.

In 2002 Hartnett paid $2.395 million for the house, which had a 2014 estimated market value of $2,266,500. The fully restored, 5,000 square-foot, Victorian-style house was built in 1887 and has four bedrooms, 3.5 bathrooms and a finished third floor.

The Smith + Roffers team at Lakes Sotheby's International Realty had the listing.

Case-Shiller: Home prices rising in the Twin Cities, but still far from peak

The Case-Shiller house price index going back to January 1989.

The Case-Shiller house price index going back to January 1989.

After one of the strongest spring housing markets in several years in the Twin Cities and beyond, all eyes are on house prices, which by some measures have returned to, or exceeded, pre-crash levels in some parts of the metro. The S&P/Case-Shiller Home Price Indices released Tuesday morning shows that prices across the 13-county metro are posting healthy, moderate gains, but are still far from peak.

During April, the index rose increased 3.19 percent to 142.78. That year-over-year gain is slightly below the national average, but consistent with previous increases for the Twin Cities. What's more telling is that the index is still nearly 28 points below the September 2006 peak, but 34 points higher than post-crash low of 109.

The Case-Shiller report, which tracks repeat sales of the same house using public records, suggests that house prices in the metro have much farther to go than a monthly report from the Minneapolis Area Association of Realtors (MAA), which tracks the median price of all sales that are listed with a Realtor through the Regional Multiple Listing Service. The MAAR report shows that during May the median sale price was $224,000 compared with a previous high of $238,000 in June 2006. Statistically speaking, the median price in the metro is getting a lift becuase of change in the mix of what's selling. Deeply discounted foreclosures now represent only a fraction of all sales, with more expensive move-up houses taking their place.

We'll have the June sales data from MAAR on July 13. Though it's still a seller's market with buyers outpacing sellers in some parts of the metro, I don't expect the median price for June to exceed the 2006 high.