More Properties Are Sitting Unsold, But Why Now?

Suddenly, there’s been a quiet shift in the market. Across Australia, more properties are sitting unsold for six months or longer. And it’s not just a seasonal dip, it’s a sign of something deeper instead.  

More listings and fewer sales. And a growing pile of homes that just won’t move. Why?

Because many sellers are holding out for a price that no longer makes sense. They’re holding on to expectations shaped by a much hotter market. 

But the property buyers’ approach has changed. They’re now more selective, more cautious, and more strategic.

What’s Happening? 

Our latest property analysis shows a sharp rise in “old listings.” That means properties sitting on the market for 180 days or more. And it’s not a small bump.

• 82,786 properties are now in this unsold category, a jump of 8.8% in just one month.
• That’s also a 13.5% increase compared to this time last year. 

City by city, here’s what we have seen.. 

• Sydney, up 29.5% year-on-year
• Melbourne, up 15.8%
• Canberra, the standout, with a 58.8% spike
• Hobart, up 33.7%
• Brisbane saw a 9.6% monthly increase, though still down over the year
• Perth and Adelaide also reported steady climbs

And that’s thousands of homes just sitting, week after week, not moving, not attracting offers, and not adjusting fast enough.

Pricing Pressure Is Holding Sellers Back

A big part of the problem is pricing. Many sellers are still anchored to the idea of what their home should be worth, based on past market trends. They remember the boom and expect similar offers, even though conditions have clearly shifted. 

But the market isn’t acting the same anymore. It is paying based on current value, demand, and buyer confidence. On top of that, there’s fear. Some sellers are trying to avoid a loss, especially those who bought in the last few years.

Between transaction costs and market softening, they’re holding off on price drops, hoping the right buyer will show up. But in reality, property buyers have changed their ways.

And every extra week a property sits on the market? It tells property buyers one thing,  there’s no urgency to act.

It’s Not Just About the Price 

Price is not the only reason, there are others too. Many of these properties come with other issues, such as.. 

• High body corporate or owners’ corp fees
• Off-the-plan builds that haven’t aged well
• Poor layouts or locations are losing demand
• Low rental yield or long vacancy history

These are the kinds of things property buyers notice straightaway.

And unless sellers adjust their expectations or their price, that listing just continues to gather digital dust.

What This Means for Property Buyers and Investors

This shift isn’t a major problem; it’s a signal instead. A market is slowing down, but that doesn’t mean no opportunity.  It means more room to negotiate, less competition, and better deals for those who know where to look.

That’s because when homes are held longer in the market, sellers become more open to conversations. Some are willing to drop prices. Others just need help seeing what their property is really worth.

But not every unsold home is a deal waiting to happen. Some are sitting for good reason, and that’s where experience matters. Knowing the difference between a hidden gem and a long-term headache can save you thousands. 

What Savvy Investors Are Doing Right Now

They’re not rushing. Instead, they’re using this window to assess the market without pressure. They’re reviewing long-stalled listings with a sharper lens while negotiating from a position of confidence. And that’s where they’re stepping in, where others hesitate, with a clear plan, not guesswork. Because in a market like this, strategy is everything.

Wrapping It Up

Thus, we can say that the market is shifting quietly but clearly. More homes are sitting unsold, not because property buyers have vanished, but because sellers haven’t adapted. Pricing expectations are stuck in the past. And many properties aren’t matching what today’s property buyers are really looking for in value, layout, or long-term potential.

But underneath the noise, the pattern is simple. The gap between listing price and property buyer logic is widening. And that’s where opportunity lives for those who know how to spot it. Stalled listings don’t mean a stalled market.  They mean a smarter one. And in markets like these, strategy isn’t optional, it’s the advantage. 

Work with a trusted buyer agent team to spot value, avoid traps, and make smarter moves in this shifting market.