The time taken to sell the average house in Roscommon has fallen by a week in the past quarter, a national property survey has found.
The REA Average House Price Survey found that the average time taken to sell across the county fell over the past three months from 11 weeks to 10.
As people move away from urban hubs and incorporate new working from home lifestyles, the price of the average three-bed semi-detached house in the county have remained at €145,000 over the past 12 months.
“There is an exceptional appetite for quality detached family homes in the Roscommon area now. It really is unbelievable, with quality homes selling in days with multiple bidders,” said Seamus Carthy of REA Seamus Carthy Castlerea and Roscommon Town.
“Over the last number of weeks, we have agreed a number of good quality family homes ranging in price from €350,000 - €500,000. We have 43 people on our books presently looking for similar type properties in the ranges outlined.
“All interest is from the same type of buyer - families moving home or simply moving out of the bigger urban areas.”
The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.
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.
“Houses are taking an average three weeks less to sell across the country, driven by a combination of low supply and highly-motivated buyers,” said REA spokesperson, Barry McDonald.
“This is a huge shift in market behaviour, and one that we have not experienced in the last decade with almost every agent reporting a substantial drop in the time to reach sale agreed.
“Buyers are more focused, with a higher percentage of bids being made, and in many cases are looking to secure homes before their current mortgage approval runs out.”