This sounds all very 2006 to me. Specifically, I put my property in Dublin 9 on the market in September 2006 at a price of €650,000, a few months after what is recognised by many as the peak of the boom. The pricing was relatively prudent in that a better located and nicer house, albeit of the same size, in the same estate had sold two months previously for €760,000. Despite my relatively lower price, I ended having to drop my asking on a number of occasions and went sale agreed on the property in March 2007 for €575,000. A similar house in the same estate sold for €295,000 at the beginning of 2012.
I still believe that I was somewhat unlucky in that a small number of other houses of the same size elsewhere in Dublin 9, and in particular newly built ones, sold in Q4 2006/Q12007 and were unaffected by the price falls to the same extent that I was. I am convinced that the same thing is happening now in that some houses are still commanding strong prices and bucking the trend but that broadly speaking there is a general decline particularly for the more expensive properties, which are priced at over €500,000.