A shortage of inventory and a 9% price increase wouldn’t be considered all that dramatic, except everywhere else sales and prices are dropping. I was mocked way back in the spring when I said that our low inventory would result in price increases. Things have transpired exactly as I predicted.
Bob's real estate blog 
Over the past four days, 13% of SFH sales were for list price or higher. An original bungalow in Brentwood sold in four days for $455,700, which was $20,800 over list price. It was purchased in 1985 for $86,000.