On June 19, 2008 the Marin Independent Journal newspaper reported that in May of 2008 home sales were up from the previous month , but that the volume of sales are down in comparison to this time last year.  287 homes sold in May of 2007 where this year in May only 178 homes sold.   As home sales continue to plunge across the Bay Area Marin remains an anomaly as the only county where the median price increased from $925,000 this time last year to $1,102,000.
     Corrina Rollins, senior real estate instructor at College of Marin for more than 20 years was not surprised by the price jump.  Corrina says, "Marin had only the lowest end of the market involved in sub-prime mortgage sales, and most of the homes that were selling were outside of that range." Corrina also says,"the typical seller in Marin, they can wait." Suggesting that  some sellers might wait out this marketplace before offering their home for sale.
     None the less, Novato has been hit harder than the rest of the county to the point where some companies have closed or curbed their operations.  In fact, Coldwell Banker has closed it's Novato office as has Avalar Real Estate.  Coldwell Banker's response was, "that with the sophistication of electronic communications, agents do not need much office support as they once did." 
      At this time Pacific Union has moved into a smaller office space in Novato.  Levi Swift of Pacific Union and current President of the Marin Association of Realtors says,"the real estate market is going through a cycle that has been exacerbated by the national economy."
      Larry Brackett, CEO for Frank Howard Allen, acknowledges that the Novato market has hit the city harder than elsewhere but thinks it has a bright future - especially when work on Highway 101 is finished and commuting becomes easier.  "Trader Joe's and Whole Foods think Novato is upwardly mobile," Brackett said of the two retail chains that are opening outlets downtown. "There are a number of very positive signs regarding the Novato market."
     In fact, Brackett said,"I've been recruiting  agents from Coldwell Banker offices in Greenbrae, San Rafael, and Novato.  I do not understand Coldwell Banker's business decision, but then I'm not running a national company."

And, if you have a moment, check out my Marin History web site at:
Marin Independent Journal's Marin History Web Site