The average asking price for a property in Leitrim is now €210,000 which means prices have risen by €15,000 compared with this time last year. The figures were revealed as part of a report for Q3 2023, in association with Davy Real Estate and MyHome.ie.
Asking prices for a 3-bed semi-detached house in the county rose marginally by €50 over the quarter to €200,000. This means that prices in the segment have risen by €10,000 compared to this time last year.
Meanwhile, the asking price for a 4-bed semi-detached house in Leitrim fell by €2,000 over the quarter to €235,000. This price is up by €20,000 compared to this time last year.
There were 186 properties for sale in Leitrim at the end of Q3 2023 – a decrease of 3% over the quarter.
The average time for a property to go sale agreed in the county after being placed up for sale now stands at just over three months.
The author of the report, Conall MacCoille, Chief Economist at Davy, said: “The period of falling house prices we saw earlier in the year has come to an end, with the underlying imbalance between demand and supply providing fresh impetus to the market.”
He said that housing demand had remained resilient, despite interest rate hikes. “That competition for homes is heating up is evident in the 3% premium over the asking price that buyers were prepared to pay in September, up from 1% at the beginning of the year. Furthermore, in July the average mortgage approval was €298,800, up 4% on the year, lending volumes up 18% on 2022.”
He said Ireland had avoided the house price declines seen in the UK and other countries for two reasons. “First off, the Irish economy has performed far better with employment already 12%