Moville House Prices

We recently published figures which showed that Moville house prices had fallen by 30% in 2014 compared to house prices in 2013.

We also published figures showing that Greencastle house prices had soared by 43% in 2014.

So, how could there be such a massive difference of 73% in a town and a village just 3 miles apart?

Average Price

In 2013 the average house price of houses sold in Moville was €94,20. In Greencastle it was €101,000. That’s not such a big difference.

However, in 2014 the average property price in Moville was €65,800 compared to Greencastle’s €144,400.

What happened in that time?

Not Much Data

Of course, we are not going on very much data here with 8 houses sold in Moville in 2013 and 13 last year. In Greencastle it was 15 and 19.

However, there is such a big difference there must be some reason for it.

Perhaps the Greencastle recovery is much better than that of Moville.

Added Together

I’ve added the figures together for the two places to see if we can get more normal data.

This shows that in 2013 in Moville & Greencastle 23 properties sold for an average of €98,500.

In 2014, 32 properties were sold in Moville & Greencastle for an average of £112,500.

That seems more normal data. That means that prices in the whole area rose an average of around 15% last year. The number of properties sold rose by almost 40%.

Better Explanation

Does that explain things better? It could be why Leo is looking a bit more chipper recently.

Or are we adding together two stats which should not be added together? Are they separate places with separate circumstances?

Maybe Moville is still slumping while Greencastle is recovering nicely.

What do you think? Put your comments below.