Update and more questions:
I've now been on the market for two months, without selling, and I'm starting to get worried. At around the one-month mark (just after the initial offer was cancelled), my realtor pulled the listing and put it back on the market for $3,000 less. Last week, we dropped it another $2,000. (Current price is $145k.)
The competition for condos in the neighborhood is limited:
-Slightly larger, basement unit, $144,500, 65 days on market
-Slightly larger, $165,000, 65 days on market
-50% larger, much newer building, $225,000, 5 days on market
After this, everything else is 2+ miles away, much closer to downtown and much more expensive. Like, $250k for a 2 bed, 1 bath.
I feel OK about my pricing in a vacuum. I'm well priced to comps, cheaper than anything else nearby, and a neighbor's unit sold for $145k just last fall. But when I think about how many showings we've had (30+) and the three times that someone has provided feedback of "Very interested, loved it, may write offer" and then nothing happens, I feel like I must be doing something wrong.
So, experienced RE professionals and/or general advice givers, what should I do?