M.O. may stand for Modus Operandi, but it also represents "Multiple Offers," the resurgent mode of operation in many Peninsula neighborhoods. My 1017 Walnut Street listing (list $1,099,000; pictured) in the San Carlos Howard Park neighborhood near downtown received 3 offers on Friday with just 7 days on market. Other listings that come to mind with robust multiple offers within about a week are 1813 Ashton (list $1,050,000) in Burlingame's Mills Estates and 311 Avila (list $1,495,000) in San Mateo's Aragon, and 576 Craig Road in Hillsborough's Carolands neighborhood (list $1,995,000 see previous blog) And the list could go on... A simple supply/demand business model fuels the pace, as it always does in prime Peninsula neighborhoods when the momentum of the market kicks in. While I refrain from declaring this a new 2006-2007, this spring/summer certainly has trumped the most multiple offers and overbids since the market nadir of 2009. For sellers, it is time to start taking this market very seriously, as the best sales climate in over 2 years. For buyers, it means ratcheting up speed on the pavement, keeping ears open, relying on your agent's inside network, and acting decisively in the face of competition...the new M.O.

View Virtual Tour Gallery of 1017 Walnut, San Carlos