Police said a man gained entrance to a property on Greythorn Road in Balwyn North at about 1.30am on August 15.
Inside the home, the man stole four sets of car keys, a wallet, and some wireless headphones.
During the next three hours, while a family slept inside the home, the man stole four cars from its garage and carport.
The cars include a red 2019 Ferrari 488 Pista Couple with a black and white stripe and the registration plate AYV 298.
It is worth about $1 million.
The man also stole a green or teal 2024 BMW M3 Wagon with the licence plate DFR 369, a black 2009 Mercedes CLS63 with plates reading XLE 930, and a black 2011 BMW 135I with the registration XTB 851.
None of the cars have been recovered.
Police have released an image of a man they believe may be able to help the investigation.
