House requires updating
If a perfect condition vintage home is on the market for longer than others around it, it is possible the home could be overpriced.
Not every seller is eager to part with a home of such caliber.
These homes often show deferred maintenance because the sellers were unable or unwilling to properly care for the home.
Maybe there has been a death in the house or it passed through probate to heirs who don't want it.
Maybe the area was overbuilt and supply exceeded demand. Or, another tract of homes opened up a few miles away for less money.
Think about Folk Victorians or Italianates or Queen Annes or Craftsman bungalows.
Perceptions vary widely when buying a house that needs work, just ask any home buyer.
Better yet, ask a real estate agent, because many agents believe a house needs work if the house is not updated.
If the home has been on the market for a while with longer days on market than the average sale time of other homes, it could be the work that is needed exceeds the seller's expectations or it could be that the home appeals to a smaller pool of buyers.
Don't make the mistake of automatically assuming longer days on market means the home is overpriced, because that's not always a true assumption.