Leitrim's property prices remain unchanged despite Covid-19 pandemic

Leitrim Observer Reporter

Reporter:

Leitrim Observer Reporter

The latest figures entered with the Property Price Register show that 98 properties in Limerick sold in February

Properties are up for sale in Ballinamuck and Granard at next month's Leinster Property Auction

Property prices in Leitrim have remained relatively unchanged despite the impact of the Covid-19 pandemic.
The price of the average three-bed semi in Leitrim rose by 1.2% to €124,000 in the past year according to a national survey carried out by Real Es but despite fears of a downturn in the market during the Covid-19 crisis, the price of these houses across the county has remained unchanged over the past three months.

“As of our reopening on June 8 it has been incredibly busy with pent up demand from purchasers, and we have very good expectations for the rest of the year,” said James Spring, REA Peter Donohoe, Carrigallen.
The average price for a three-bed semi in Carrigallen remained unchanged over the last 12 months at €90,000, and the average time taken to sell also remained static during this period at eight weeks.
In Carrick-on-Shannon the prices of an average three-bed semi rose during the last year by 1.9% to €158,000.
“There is a very limited supply on the market, although there has been a good take up from first-time and local buyers, and we are seeing more trade on properties priced below €200,000,” said Joe Brady of REA Brady, Carrick-on-Shannon.
“There has been limited change for us with prices steady at pre-Covid levels and lots of interest.”
Prices in the area remained unchanged this quarter, and the average time taken to sell fell by a fortnight to five weeks.
It was acknowledged that while the current outlook is positive, and there seems to be a lot of pent-up demand, it may be Q3 before we see the effect of Covid-19 on the market and on the outcome of mortgage approvals granted before the lockdown.
MyHome.ie's Property Report in association with Davy showed similar results for Leitrim.
The report for Q2 2020 shows that the median asking price for a property in the county has stayed steady at €119,950. This price is also unchanged compared to this time last year.
Continuing this trend, asking prices for a 3-bed semi-detached house in the county stayed steady, at €110,000 according to this report. Prices for this house type are also unchanged compared to this time last year.
Meanwhile, the asking price for a 4-bed semi-detached house in Leitrim fell by €7,500 during the quarter to €125,000. This means prices in the segment were unchanged compared to this time last year.
The number of properties for sale in Leitrim on MyHome.ie fell by 3% in the last quarter and was down 6% on this time last year.
The average time for a property to go sale agreed in Co Leitrim after being placed up for sale now stands at just over four and a half months according to the report.