Property prices in Carrick nearly back to pre-crash highs

It “only” took 15 years, but finally it appears that the property market in Carrick- on-Shannon and South Leitrim are nearly back at price levels that prevailed in 2007.

REA Brady note two recent sales of houses in Dun Ri that are right around the levels they sold the same houses for in 2007. (Same location, same house type, same size, same bed count).

They note the sale of a four Bed Semi which closed in October with a sale price of €275,000.

The highest price paid for a four Bed Semi in Dun Ri prior to that was in late 2007 of €271,000.

Just last week REA Brady agreed the sale of a very well presented three Bed Semi in Dun Ri at €250,000. The highest price recorded for a three bed there in Dun Ri prior to that was €255,000 in late 2007.

This is a good indication of the depth and solidity of the current market.

Joe Brady says “we still have a short way to go, these two sales are somewhat exceptional in that these are among the first properties to get back to their pre-crash price levels.”

Joe notes that “For the greater part we are still below the 2007 levels” and that “there is head room in this market to go higher because our house prices are below the cost of construction”.

The cheapest new three Bed Semi’s in Ireland are selling for €275,000, so we are not there yet.

This however is a milestone and worthy of noting.

REA Brady stated that “we have a record level of buyer enquires this month including many underbidders from recent sales.” People thinking of selling can call Joe, Ronnie or Celia on 071 9622444.