The vehicles were taken from the Iona Road area of the town.
A black Insignia, registration number 11-DL-3300 valued at about 10,000 euro and a Type R Honda Civic, registration number 07-DL-11632 were both stolen from the same house.
It's believed the individuals involved entered the premises, took the keys of both cars and nothing else.
Gardai are currently at the scene and an investigation is underway.
Owner, Martie McBrearty has been outlining what happened to Highland Radio News: