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Inventory drops, home sales pick up in Portland

Home sales are increasing as the number of homes for sale continues to drop. Data released Friday by the Regional Multiple Listing Service shows 1,694 Portland-area homes sold in March, a near 5 percent increase from the same month last year.

The average Portland-area home sold for $252,600 in March, a 3 percent decrease from March 2011. The median home price remained relatively unchanged. Read more…

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