The Question is; "Why is the price so HIGH"?

I walk away from overpriced listings or should I say unrealistic sellers. I really don't fault the seller, they are not aware of the macro economics that are in play. For that fact, most agents I deal with are clueless. C.L., when an agent takes an over priced listing, I call this the "house that will never sell". It will set on the market until the listing expires. The same seller will list with another agent because their snake oil smells sweeter. This pattern will repeat 2-3 times until the fire sale.

You have hit on a topic that requires further forensic examination. OK, let's for sake of examination agree that all RE Markets are hyper local. So, where is the Mean Price ? Or does the agent use the average price? Where does the agent get their data? Their local MLS only ? I really question any MLS data because of nar. I hate to tell folks and you know this C.L.; Economics is not an exact science. in my opinion, you can't prove a negative when it comes to economic data like you can say in Physics. So, what I'm trying to say is, an offer to purchase at 50% of the list price is "low ball"? Show me the empirical evidence to the negative using macro economics. After all, isn't macro the business model of choice for capitalism???

Good evening C Lloyd, thank you for the 're-post', it is very much appericated!