Property prices steady in Galway

Galway’s property prices are bucking the national trend by staying flat during the quarter of 2023.

That’s according to the latest MyHome.ie Property Price Report, which shows that the median asking price for a property across the city and county as a whole is still €285,000 – which is still a rise of €25,000 over this time last year.

Asking prices for a 3-bed semi-detached house in the county actually fell by €6,000 over the quarter to €256,250 – but that’s still a hike of €16,250 year-on-year.

At the same time, the asking price for a 4-bed semi-detached house in Galway fell by €7,500 over the quarter to €295,000. This price is up by €17,000 compared to this time last year.

There were 795 properties for sale in Galway at the end of March – a decrease of 13% over the quarter.

The average time for a property to go sale agreed in Galway after being placed up for sale now stands at just over three and a half months.

The author of the report, Conall MacCoille, Chief Economist at Davy, said that, nationally, the data suggested that frothy pandemic-era valuations were now cooling off.

“This quarter’s MyHome report shows another 0.3 per cent fall in asking prices in Q1 2023. Prices fell especially sharply – by 0.8 per cent – in Dublin but rose marginally by