We saw almost a 30% increase in sales prices this year! For a good 5 month period or so regular home buyers were finding it very difficult to purchase because deep pocketed investors were flooding the market with cash offers. Market conditions have started to calm down recently though and the influx has died down quite a bit.
Multiple offers if the property is priced accordingly, yes! My personal observations here in Miami Florida is that there is really not a shortage of inventory but a chunk of over-priced inventory including distressed properties.
As a whole, the Charlotte NC area has around 5-6 months inventory and depending on the location (closer to town) or distressed status (short sale priced well or REO inventory) is receiving multiple offers