What about this listing says "come lowball me"?

Trying to sell a townhouse in the PA suburbs and having a rough go of things, looking for encouragement or advice. Here's the listing.

We've received three offers so far, all of them cash buyers - the first two were 6% and 12% below asking price during the very first week on the market, so we countered and didn't budge on the price so those folks walked away. After a couple more weeks of slow activity (one showing a week), we dropped the price earlier this week by 3% to 873k, and immediately got a showing from some buyers who offered 825k. We countered at 865k (which both our realtor AND their realtor said was reasonable) and they walked too. Their realtor shared they've basically been spamming every townhouse in the area with 825k offers and getting nowhere, but still continuing to do it. These same people included proof of funds with their offer showing accounts with $5 million in them, which honestly seemed like trolling since any one of the accounts would've sufficed on its own.

Anyway, what am I missing here? We priced in line with recent comps (within 30 days of listing), it's freshly painted and staged, great location. (Also a great school district, but I realize that doesn't matter as much now since it's almost September and most families have settled already.) I know it's not the hottest property on earth but yeesh. Does the market just suck right now? Will it get any better come September? And what's with all the cash buyers - where are the regular people with mortgages?? Would love to hear any thoughts.