This adverb is used to describe something in a great demand, something that sells well. Нарасхват comes from the verb хватать 'to grab', so, literally, people 'grab' it very quickly.

Hарасхват - yes , it means to sell like hot cakes , to buy or sell something very quick. В магазин завезли яблоки , и их тут же разобрали нарасхват. In the store appeared apples, and they were bought in one moment . But it can refer not only to trade. Common meaning of this idiom -people need something or somebody very much , people pay much attention to it. Именинница сегодня нарасхват. people want to see and speak today the girl , who celebrate birthday/ If to day about trade there is several idioms like this . С руками оторвут. It means the people ready to buy not only thing , but even the hand of seller ( as a joke) . вынес вчера огурцы на базар по 50, думал с руками оторвут. ( I sold yesterday cucumbers per 50 rubles on a market , they were bought the best. and like to sell as hot cakes - разойдуться как горячие пирожки.( here разойдуться means will sold )

Another phrase is to fly off the shelf. The etymology stems from the idea 'grab it before it's gone' (хватать means to grab)

everybody want it and try to get asap

Like hot cakes?