Are you looking at new construction or a resale property?
You ask: " What's the deal?"
Answer: There is no deal because you're not making an offer that the listing agent can work with.
You represent the market so it's incumbent on you to make an offer of what the property is worth to you. The seller can accept, reject or negotiate your offer. Any competent realtor can help you do that.
I've been following your queries and it seems that you are focused on a particular house or neighborhood-- and the sellers know it. They're waiting for you to step up and make an offer.
Because you ask questions that a competent realtor would not let arise, it also seems you're not being represented by a realtor. Are you aware that the services of a realtor are FREE to you as the buyer? Are you aware that the seller is already under contract to pay the listing agent the full commission regardless of whether or not you have a buyer's agent?
It would help all of us realtors to do a better job if we understood why you choose to go at it alone instead of working through a realtor that can help you get the home you want at a price you're comfortable with. Please let us know. Reciprocity in the exchange of information helps everyone involved.
Each seller is different.
Typically sellers are reluctant to lower their asking price after renovation and cost. It is not uncommon for a seller to believe that they have the best product on the market after a costly renovation and some large sums money spent. They may be looking ROI too high.
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Next question then is who is the seller? Someone still emotionally connected to the property and not really willing to sell, an investor who knows his bottom line and knows there is a buyer for what he has, an institution (bank, court, etc.) also protecting a bottom line, or "motivated" seller (transfer, estate sale, tired of owning)?
Real estate is a combination of straight line financial transaction with an emotional chaser, done right, but sometimes the reverse. There is no formula for when or how much a seller needs to reduce his/her property. You can't tell from days on market how many offers have come in and been refused or fallen out. Or, if it's a couple or business partners, how much agreement there is on a strategy. Heirs can take a long time deciding or be quick.
Are you comparing apples to apples? Condition is a huge part of pricing, it's not just square feet.
Another reason might be that the property was purchased by an investor, renovated and then put back on the market. The investor might have a number in mind they would like to take away from the property, is hoping to get that amount and is willing to wait.
A third reason might be that the property is a short sale or owned by the bank and the price is dictated by what the bank wants.
Another reason could be the seller is not very motivated to sell or has unreasonable expectations.