The answer to that question largely depends on the circumstances surrounding the sale. It is quite possible that the sellers must sell it for a certain price in order to meet their own, personal financial obligations. Perhaps they are indebted to the bank for the asking price, less listing fees and taxes and simply cannot walk away with anything lower than they are asking.
In this market, the real estate game is a tricky one. If this is a property you are personally interested in, then my advise is to make a reasonable offer for what you would like to pay for the property and see what happens...you don't know until you try!