August 2024 Real Estate Market Update – The Cyr Team
From The Cyr Team
Welcome to August! What is normally a quiet month heading into fall is different this year for real estate. As we’ve been noting, changes from the NAR (National Association of Realtors®) settlement take effect this month. In a nutshell:
- A decoupling of how selling and buying agents are compensated
- Additional disclosure on how compensation works
- Buyer representation agreements required prior to showings
- No offers of buyer agent compensation in the MLS
How these changes affect buyers and sellers will become clearer as practices adapt. Associations, brokerages, and agents are updating forms, systems, and processes. While change can be frustrating, The Cyr Team can help clients navigate the updates with clarity and confidence.
Note: Agents and brokerages, along with their MLS, must follow these new rules. Avoid any “workarounds” that could jeopardize licensure.
Learn more from NAR:
- Homebuyers: Here’s What the NAR Settlement Means for You
- Home Sellers: Here’s What the NAR Settlement Means for You
Market implications may include some slowing as buyers reassess budgets amid prices and rates. Sellers may need to align price and condition to avoid longer days on market. Add an election cycle, and uncertainty can lead to caution—but also opportunity.
Real Estate Stats for March
Needs & Wants
We have properties coming to market soon. If you know someone looking, have them reach out:
- Oxford Borough
- Valleybrook (Garnet Valley)
Active buyer needs:
- Single-family in Garnet Valley, Rose Tree Media SD – up to $850K
- Single-family in Garnet Valley, Unionville–Chadds Ford SD – up to $1.1M
- Single-family w/ 2+ car garage in Kennett Square or Unionville–Chadds Ford – up to $600K
- Single-family in Brandywine 100, DE – up to $450K
- Unionville Schools – 5 bed, 3+ bath – up to $1.4M
- Townhome in West Chester area – up to $450K
Community
Yoga in the Street is running through September 28 — every 2nd & 4th Saturday in Downtown West Chester. Bring a mat, $5, and positive energy. No registration needed.
The Cyr Team Blog
Planning a Move with Your Family
Moving can be complex — especially when buying and selling overlap and kids or relatives are involved. From timing your transactions to managing the logistics, there are many moving parts to coordinate. In our latest blog post, we share strategies to help you stay organized, reduce stress, and keep your family’s priorities front and center throughout the process.
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About The Cyr Team
The Cyr Team is a husband-and-wife real estate partnership based in Kennett Square, PA, proudly serving the Philadelphia suburbs, Chester County, Delaware County, and Northern Delaware — including Downingtown, Exton, and Greenville.
With 20+ years of full-time experience, 300+ transactions, and 76+ five-star Google reviews, The Cyr Team is trusted by clients and professionals for expertise, integrity, and results. Jane leads with empathy and people-first service; Vincent brings disciplined systems and market strategy.
Whether you’re relocating to Downingtown, moving within Exton, or selling in Greenville, The Cyr Team provides the trusted partnership and proven performance to help you move forward with confidence.
Brokered by REAL Broker, LLC. Serving Pennsylvania and Northern Delaware.