Days on market (DOM) in Melbourne’s eastern suburbs, Mornington Peninsula, and Bellarine Peninsula are currently lengthening compared to the rapid sales of late 2025, reflecting a cooling in buyer urgency following the February and March 2026 RBA rate hikes (Domain). While still within reasonable ranges, a rising DOM suggests vendors need to be realistic about pricing expectations. Gentrifying suburbs are demonstrating resilience, but even there, DOM is increasing. Understanding your suburb’s specific trend is crucial.
Days on market is a useful indicator of buyer demand, but it’s not a simple measure of ‘good’ or ‘bad’. Currently, we’re seeing DOM figures creep up across Melbourne, a direct response to the recent interest rate increases which have introduced caution into the market (Domain). Vendors who were considering listing and held back during the peak of 2025 are now entering the market, increasing supply and naturally extending the time it takes to secure a sale.
What’s considered a ‘good’ days on market in April 2026?
Historically, a DOM under 30 days has indicated a strong market. However, in the current climate, that benchmark is shifting. Across Melbourne, we’re seeing the median DOM extend beyond this, particularly for properties that aren’t perfectly presented or priced to meet current buyer expectations. In gentrifying areas like Preston, Reservoir, and Frankston, where price appreciation of 8–15% has been observed over the past 2–3 years, properties are still moving relatively quickly, but even there, DOM is increasing.
How do current days on market figures compare to 2025?
Late 2025 saw exceptionally low DOM figures, driven by pent-up demand and vendor confidence (Woodards Real Estate). Listings were scarce, and buyers were competing fiercely. Now, listings are up nearly 40% since December 2025, and appraisals have surged over 75% month-on-month into early 2026 (Raine & Horne). This increased supply is naturally leading to longer selling times. Open for inspection attendances are still up 3% year-on-year (Raine & Horne), but the urgency has diminished.
Are days on market different in Melbourne compared to other capitals?
Melbourne’s market is currently behaving differently to other capitals. The median house price gap between Melbourne and Sydney is historically wide – exceeding $600,000. Perth’s growth is forecast at just 1.6% for 2026 (KPMG) as affordability constraints bite, and Brisbane, Perth, and Adelaide are all expected to slow sharply. Melbourne corrected more than most other capitals in 2022-2023, and while it recovered strongly in 2025, the recent rate hikes are impacting momentum.
The timing risk
The biggest uncertainty right now is the potential for further interest rate movements. The RBA’s February and March 2026 rate hikes have already dampened buyer enthusiasm (Domain’s Dr Nicola Powell), and further increases could lead to a more significant slowdown. Vendors need to factor this risk into their pricing strategy and be prepared to adjust if necessary. A property sitting on the market for an extended period can become ‘stale’ and ultimately achieve a lower price.
Frequently asked questions
What does a high days on market actually *cost* me?
Beyond the obvious holding costs (rates, mortgage interest), a prolonged sales campaign can lead to price fatigue. Buyers may perceive an issue with the property if it’s been on the market for a long time, even if none exists. This can result in lower offers and a longer negotiation process.
Should I reduce my price if my property’s days on market exceeds 30 days?
It depends. Review recent comparable sales with your agent. If similar properties are selling within a reasonable timeframe, a price adjustment may be necessary to attract attention. Don’t be afraid to reassess your expectations based on current market conditions.
Are open inspection numbers still important if days on market are rising?
Absolutely. High open inspection attendance indicates interest, even if it’s not translating into immediate offers. It provides valuable feedback and allows your agent to gauge buyer sentiment. Low attendance is a clear signal that your marketing strategy or pricing needs to be revisited.
How do I interpret days on market data for gentrifying suburbs?
Gentrifying suburbs like Preston and Frankston are generally more resilient, but they aren’t immune to broader market trends. While price appreciation has been strong, DOM is still increasing. Focus on properties with unique features or recent renovations – these are likely to attract more attention.
Questions to ask your agent
- Can you provide a detailed analysis of days on market for comparable properties in my area over the last 3 months?
- What’s your strategy for keeping my property ‘front of mind’ for buyers as days on market increase?
- Based on current market conditions, what’s a realistic price range for my property, and how might that change if interest rates rise further?
This article contains general market information based on data current
as at April 2026. It does not constitute financial, legal, or real estate
advice specific to your property or circumstances. For an appraisal and
tailored advice, speak with a Fletchers agent in your area.