In most cases, it is market decline right now. But, the question is, are you getting lookers?
If not... If your home has an accurate and solid listing in the MLS, then it is reaching buyers who are looking in that price range. So, look for yourself online in that price range, which homes (honestly) would you want to look at? Does yours make the cut? If not, then look in a lower price range and see if your home makes the cut then. If it makes the cut for YOU, why? Be objective here - it can cost you 10s of thousands of dollars to lie to yourself.
Once you know what price range you have to be in to get "lookers".. you'll get them. If you are having lots of showings and no offers - feedback helps. Find out what the buyers actually buy. Look at your home, do you need professional help staging it. Remember, selling has nothing to do with reality. The family photos, the plethora of your favorite knick knacks from all over the world - they are not telling anyone about your home, they are telling people about you - and YOU are not for sale. So, get rid of them. furniture placement, hiding toasters, increasing the wattage on the light bulbs, cleaning the windows inside and out, it all makes a difference and you like it the way you like it, you need someone else to come in - your agent or a professional stager. New photo shoot once you're done.
So, if you're getting lookers and the place shows like a model (remember, models don't have screens or blinds in the windows like normal people, we're not talking about reality, we're talking about sales)...then I hate to say it, but something is still off. If you've done what you can do about the house to make it show perfectly, it could be something you can't change - the neighbors, the highway behind the house, the buried basement, the odd shape of the lot, etc. If you can't change it, then it can be overcome by reducing your price.... and there we go again. The good news is that adjusting your price after you've got people coming in the door usually means less of a price adjustment. It can be $10K or $15K.... Where, when you are making adjustments just to get people in the door, it is much higher (think $25K+).
Hope this helps....