Cork city homes selling two weeks faster in last quarter

Prices in Cork county rose by 1.6% this quarter to €178,750, and time to sell fell by six weeks across the county to nine weeks.

The time taken to sell an average house in Cork city has fallen by two weeks in the past quarter, a national property survey has found.

The REA Average House Price Survey found that the average time taken to sell in the city fell over the past three months from 12 weeks to 10.

It was a similar situation in Cork county where the average time to sell fell from 15 weeks to nine.

The price of the average three-bed semi-detached house is remained static over the past quarter at €320,000 in the city.

Prices in the county rose by 1.6% this quarter to €178,750, and time to sell fell by six weeks across the county to nine weeks.

“We have found no evidence so far to suggest that the market has been severely affected by Covid-19, and demand continues to be relatively strong with a mixture of both mortgage approved and cash purchasers,” said Michael O’Donoghue of REA O’Donoghue and Clarke, Cork City.

In our opinion, the market is stable at this point with steady demand overall for various property types 

The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi.

The average three-bed semi nationally is now reaching sale agreed after seven weeks across the country — a significant fall from the ten-week average in June.

Despite fears of a downturn in the market during the Covid-19 crisis, the price of a three-bedroomed semi-detached house across the country rose by 0.6% over the past three months to €236,046, an annual increase of 0.4%.

Reflecting the beginnings of a flight to rural locations, prices in the rest of the country’s towns rose by almost 1% in 12 weeks to €163,345.