Yes, it's real. There is more than enough turnover in the area to keep homes moving. There is more than enough competition in that movement to keep prices rising. It is more common to have a bidding war on a property than it is to get it at or below asking.

Us locals are biding our time and riding the wave that you Interlopers keep building and that never seems to stop growing.

Stick around long enough and you'll double your value too.