I noticed a townhouse come on the market last Friday that was in...

I noticed a townhouse come on the market last Friday that was in Unley (a nice part of Adelaide). I was quite interested in purchasing but left it a few days after I viewed it. When I rang to have a second look, the agent told me she already had two offers and I had to put in an offer tonight as she was presenting these to the vendor. I put in an offer between the two figures adversited & was disapointed to find out the next morning that someone put in an offer after me, over the top asking price!
This property was on the market for 4 days and was inspection by appointment only - 4 offers! It was also just under 500k. Doesn't appear to be any slow down here!