Local Realtor’s confidence in the state of the market hit an all-time high last month, breaking a previous record set in February, according to a new report from the Massachusetts Association of Realtors (MAR). MAR’s  Realtor Market Confidence Index (RMCI) and the Realtor Price Confidence Index (RPCI) both hit all-time highs in March. Shrinking inventory is also causing an increase in multiple bids on the same listing, Realtors reported.

"Right now multiple-bid offers are about as common as single-bid offers, but that could change as inventory continues to go down," said 2013 MAR President Kimberly Allard-Moccia, broker-owner of Century21 Professionals in Braintree.

In March 2013, the RMCI was 75.52, which was up 52 percent from the March 2012 score of 49.54. This is the second straight all-time high for the RMCI and the 20th straight month of year-over-year increases. On a month-to-month basis, the March RMCI was up five percent from the 71.82 score in February 2013.

The RPCI was 78.74 in March, which was up 36 percent from the March 2012 RPCI of 57.73. This is the 14th straight month of year-over-year increases and another all-time high. On a month-to-month basis, the RPCI was up 13 percent percent from the February 2013 RPCI of 69.55.

Of the Realtors who responded to the survey, 37 percent said all or most of their transactions were multiple-bid offers. Twenty-eight percent answered that an equal number of their transactions were multiple-bid and single-bid offers, while 35 percent said all or most of their transactions were single-bid offers.