Even if it's priced competitively, it may be over-priced (if all the other homes are also over-priced). The only way to know if it is priced correctly, is to have a Realtor do a Comparative Market Analysis (CMA) on the property using Sold comps within a 1 mile radius (the closer, the better) of the property that have Sold within the last 3 months. If market value is what it is priced at, then it may be due to other factors. Is it a short sale? If it is, it has to be approved by the lender(s)/investor(s) and this could be an issue. If there have been offers and inspections done and something was 'discovered', that could also be an issue. There are several other possibilities but without more details, it is hard to speculate.
So the property may be a total dog, but it could be a top dog too - it's just harder to sell houses that have been on the market for a while.
-Priced high at first and have now lowered the price
-Seller decided to make repairs to improve property showings
-The house had a contract on it that fell through after many months
-Or the seller decided to temporarily take it off the market ( vacation or death in the family) and re listed. Some sites count those days in between as â€œon the marketâ€
You can learn more about this and other home buying topics on my blog below