Tuesday’s Case Shiller reporting November 2010 was of no surprise: down from the previous month. The Index for Portland is 139.92 which puts the Portland real estate market back where it was in March 2005.
The 139.92 is actually an average of the three price tiers in Portland. For November:
- Low (under $207,443): 144.00
- Middle ($207443 – $300,273): 141.37
- Upper (over $300,273): 137.04
The low tier peaked at 199.87, middle at 186.71 and the high at 180.83- all around July 2007.
The high tier was nearly 10% below the low tier at the peak and is now 5% below. The middle tier has almost mirrored the average since the Index was reset to 100 in 2000.