Why Do Some Properties Stay Unsold for Months Despite “Good Location”?

I often see properties in supposedly good locations that remain unsold for months, sometimes even years.
If location is everything in real estate, why does this happen?
What are sellers or agents usually getting wrong?

Location alone isn’t enough anymore. Many sellers overprice their property just because it’s in a “known area.” Buyers today compare prices online and won’t overpay. Poor maintenance and outdated layouts also push buyers away.