When a new listing hits the market, there is usually a flurry of showing activity with buyers eager to see if this house might be "THE ONE" they have been searching for. This might continue for several weeks, but at some point if the house has not sold, that showing activity begins dwindling.
Then you notice that two weeks have passed and NOBODY has come to see the house, or even called to schedule a showing. Uh oh, what does this MEAN?
Well, it means it is time for the sellers and their real estate agent to evaluate what the market has been doing during this period of time. Are other similar homes selling? Is there more competition than there initially was? Where is this house positioned price wise compared to the other available homes for sale? What kind of feedback was there from the showings that did happen early on?
Pretty certainly it means that since none of those initial buyers made an offer on the house, it is not being perceived as a great value compared to other choices. So.....unless the analysis of the market shows that NOTHING similar is selling, then the hard reality is the price is just not where it needs to be to attract buyers - and more importantly, an offer!
And a sad truth is that this is a situation where patience may NOT be a virtue. If the price is wrong, adjusting quickly will keep your house from becoming that stale listing that has been on the market so long that buyers assume there must be something wrong with it.