Domain chief executive Jason Pellegrino says the real-estate market may have slowed down a touch but isn’t close to topping out, despite signs of buyers taking a breather in Sydney and Melbourne.

“I don’t see [the market topping out]. It’s just a reversion from extraordinary conditions down to good conditions,” Mr Pellegrino said on Friday, as the company revealed plans to buy property technology platform Realbase.

New data published by Corelogic on Friday revealed home values had fallen in Sydney and Melbourne, with sales down by a third in those cities after strong growth over the past year. Listings are higher in Melbourne and Sydney, according to Corelogic, but there is less stock on the market in Brisbane, Adelaide and regional Australia suggesting selling conditions remain strong across large parts of Australia.

However, Mr Pellegrino said the overall pipeline of listing on the real-estate listing portal remains healthy.

“What we are seeing is also strong demand, but the gap between supply and demand has moderated,” he said.

“You’re not seeing the acceleration of prices that we saw over the last 12 months because of a gap between supply and demand - it’s a much more healthy property marketplace. ”

Domain, majority owned by Nine Entertainment Co - which also owns this masthead, is paying $180 million for Realbase - a company that helps agents co-ordinate marketing activity for off-market and on-market listings.

The transaction includes a consideration of up to $50 million dependent on financial performance targets and Mr Pellegrino said the acquisition expands Domain’s offering for real-estate agents looking to list houses.

Realbase has a 40 per cent penetration of property transactions in Australia and New Zealand. It is used to construct, price, order and track the campaign marketing products through two brands, Realhub and Campaigntrack.