The longer a house is on the market, the more undesirable buyers perceive it to be. Buyers think that something must be wrong with a house if it has been on the market for 60/90/120 days. When or if you finally receive an offer, it will almost certainly be a lowball offer because buyers can smell your desperation as the weeks pass and your house continues to sit. As you can see on the chart below, every day that passes increases your chance of receiving (and accepting!) a lower offer:
* This chart was created with data sourced from The Cooperative Arkansas Realtors Multiple Listing Service (CARMLS). Data includes 4,890 single-family residential houses sold during the years 2013, 2014, and 2015 in the zip codes: 72205, 72207, 72211, 72212, 72223, and 72227.