Typical transaction price 3.7% above asking price in early 2022

Over this 12-year period, the typical property sells for a price that is 0.3 per cent above its listing price - but that gap has changed a lot over time.
Typical transaction price 3.7% above asking price in early 2022

Kenneth Fox

For over 165,000 properties since the start of 2010, and on average 20,000 properties in recent years, it has been possible to connect up the transaction with the original listing.

Over this 12-year period, the typical property sells for a price that is 0.3 per cent above its listing price - but that gap has changed a lot over time.

During the period 2010-2012, properties sold on average for 10 per cent less than their initial listed price - but by early 2014, Dublin properties were selling for 5 per cent above, even as Munster homes were still selling for 3 per cent below.

Across the country, the typical transaction price in early 2022 was 3.7 per cent above the listed price, according to a daft.ie report.

A year ago, the gap nationally had been just 0.4 per cent while two years ago, in early 2020, the typical transaction price was 0.5 per cent below, rather than above, the listed price.

The last three quarters have seen greater market heat - as measured by the premium paid by buyers above the listed price - than at any other time since the start of 2010.

Market heat is greatest in Dublin, where the transaction price is typically 4.8 per cent above the list price, and in Munster (3.9 per cent). In the rest of Leinster, the gap is 2.9 per cent.

In Connacht-Ulster, the gap is smallest, at 2.6 per cent, although this represents a significant change in market conditions compared to two years ago, when the typical property sold for 1.6 per cent less than the listed price.

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