Number 12 Moule Avenue has been listed with JP Dixon Real Estate at a price that would blow the Brighton sales record of $15.5 million out of the water, according to Damian Taylor from buyers’ advocates Morrell and Koren.

However, affluent suburbs such as Brighton, Brighton East, Toorak, Armadale and Malvern have recorded a drop in median prices, the number of homes available for sale and buyers seeking property.

Mr Taylor said the market was ‘‘pretty soft’’ compared with a year ago.

‘‘People have money but they’re being careful at the moment,’’ he said.

Mr Taylor said 12 Moule Avenue was one of Melbourne’s best properties, but was unlikely to sell for $25 million. ‘‘It’s a very good house and it’s one of four on the market with a high price tag. It’s the pick of the bunch,’’ he said. ‘‘It’s on an enormous piece of dirt.’’

However, the agent selling 12 Moule Avenue is optimistic. JP Dixon Real Estate managing director Jonathan Dixon said the property had been on the market for about two weeks and there had already been an offer.

Mr Dixon said there had been a lot of interest in the property and several international buyers had seen the house. Mr Dixon said the 3900-square-metre property was ‘‘the best in bayside’’.

The Real Estate Institute of Victoria has recorded a median price drop of about 5 per cent for the Toorak and Brighton areas in the past year. Spokesman Robert Larocca said the $1 million-plus section of the market had suffered the most in the past 12 months.

Mr Larocca said that price bracket was the most volatile and tended to fluctuate more often than more affordable properties.

‘‘We don’t expect to see any more growth this year,’’ he said.