Portland home sales rise

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Friday, March 16, 2012

Portland-area home sales rose in February, and continue to climb.

The average sales price was $255,100, a 4.3 percent increase compared with a year earlier and 2.4 percent higher than January. 
The jump in average prices can be attributed at least in part to a number of sales at the top of the market. In February, 15 homes sold for more than $1 million, compared with six a year ago. 
"Possibly the upper end buyers are starting believe that real estate isn't a bad place to invest their money any longer," said Peggy Hoag, a broker with Prudential Northwest Properties in Portland. "I think it's a pretty solid indicator. It's what people do with their money that shows what they believe in."

Read more at OregonLive.com.

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