The price of the average three-bed semi in Kerry rose by 0.5% to €217,500 between June and September, according to a national survey carried out by Real Estate Alliance.
Prices in Tralee rose 1.3% this quarter to €160,000, while the average price of a three-bed semi in Killarney is stable at €275,000.
Eddie Barrett of REA North’s in Tralee says the lack of supply is driving up prices.
The survey by Real Estate Alliance also shows the average price of a second hand semi-detached home nationally is beginning to flat-line.
Mr Barrett believes current mortgage rules are to blame.