Portland Maine Home inventory levels

As the summer moves along and markets continue to remain sluggish here in Maine, inventory levels continue to rise.   Current levels in Portland having risen by about 10% over the past 2 months and as of August 1st forw at 494 residential properties on the market broken down into 259 single family and 231 condos with average asking prices of 318K for a condo and 380K for a home.  The cheapest property on the market is a studio condo for 80K and the highest price property tops out at 2.5 million.   How much does it take to buy an average home in Portland Maine? In 2006 the average residental home sold for 263K and with prices conitinuing to come down and based on my own real estate knowledge, a great home in a solid neighborhood can realistically be purchased for 250K.