The incident happened at the property in the Millbank road area was reported shortly after 9.30pm on Thursday night.
Three masked men, one of whom was armed with a suspected firearm and another armed with a large hunting knife, forced their way into the property.
They tied up the family and demanded money.
The men remained in the house for sometime while they searched rooms before making off with jewellery in the family's silver Mercedes.
The car was found a short time later on the Roughfort road by police. An attempt had been made to burn the car.
The family are said to have been left badly shaken by the ordeal but were not injured.
One of the suspects is described as being in his 20s, 5 foot 9 inches tall, wearing dark clothing and green-coloured wellington boots.
Another, also thought to be in his 20s, is described as around 5 foot 7 inches tall and was wearing dark clothing.
Police have appealed for information on the incident.