Is the price way too ambitious?

The price has already been reduced on the 15th July 2025 but this property still hasn't budged. Which means it likely originally listed for over £400k.

It looks like a lovely property but a part of me feels that it's ambitiously priced.

Outside of this, could there be any other reason this property simply hasn't budged?

https://www.rightmove.co.uk/properties/170099681#/?channel=RES_BUY