Also look at other factors like days on market, available inventory, ETC.2.

As I evaluated the inventory, I started to notice the lack of "deals".

Houses sold for 99.1% of list price, and inventory remained low at 1.1 months.

So all of the farm land is being eaten up and there's a ton of new development in the area, the old bones of the area are still here but there is seemingly NO inventory!

Everyone thought the market would crash like 2008, but what actually happens is that we have a corona induced shortage of inventory, while buyers came back quickly after a few weeks.

It has gotten even more competitive due to the low interest rates as well as a low home inventory due to Covid.

I am presuming they are auctioning off pre-covid inventory. 

The limited inventory available of duplex/MF falls in 1 of 2 categories 1) old, poor quality and potentially rife with problems that may persist over time 2) structures that were not originally intended to be multifamily but have been modified/rigged in a feeble attempt to be MF. 

Helps offset fixed expenses like permits and regulations. certainly gets the job done and we do need more housing inventory on the upper end as well, but the real challenge is the insane demand for houses under median.

Inventory is pretty low but I know of a couple deals that are not on market.