The latest report from Daft.ie shows prices fell by 0.3% nationally in the first three months of this year.
That's despite a continued shortage in the number of homes going on the market.
Only 13,000 residential properties were for sale on March 1st, a 30% drop on last year, and down from an average of just over 24 thousand in 2019.
Pat Davitt, CEO of the Institute of Professional Auctioneers and Valuers, says estate agents have been seeing changing market conditions.
'There's a lot of properties that are still making the reserved price and in some cases more, but I think it's a sign to see that the market is changing slightly certainly levelling to a certain degree, but prices probably are looking at the down side instead of the upside, but having said that property prices have been very resilient even with the interest rates increases.'
