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Q3 2024 Market Update

Washington

Welcome to autumn!

Reflecting on the last quarter, one highlight stands out to me more than others: inventory. We continue to see inventory levels growing. It wasn’t that long ago when we had less than a month of inventory. Today, we’re looking at more than 2.5 months — a significant increase. Additionally, closed sales are staying relatively even, compared to last year.

Now, the big dark is officially at our doorstep and, with it, the seasonal slowdown to the market is taking shape. Over the next few months you have an ideal opportunity to hammer out any process and system changes you want to make to your business.

These changes can range from identifying or dialing in your niche, exploring new and inventive ways to prospect, or simply taking a step back and evaluating your goals. Your time is your most valuable resource — use it with intention and focus before the spring market arrives.

Also, be sure to take time for yourself and your family during the slower season. When you’re working tirelessly all year, it’s easy to get distracted from what’s most important.

Central Puget Sound

 

Actionable Advice for Washington Agents

  1. Touch base with your database.
    The holiday season can set you up for success in the spring and summer of ’25. Now is not the time to slack off!
  2. Identify your ideal client profile.
    The change of seasons affords us an opportunity to reflect. Take the time to understand which clients give you energy, and which take away your energy. Use this information to create your client avatar and focus your energy on attracting those clients.
  3. Audit your time.
    Consider your processes and what you spend time on that you could outsource to a virtual assistant (VA). We offer amazing resources for our community, including VAs trained on our systems and best practices, so you can focus more on high-impact, production-boosting activities.

As I hope you already know, I’m here to support you in all things real estate. If you’d like to discuss your 2025 business goals, please feel free to schedule time with me.

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