Great question. There are a lot of reasons why a listing might not be receiving bookings. Pricing is one major reason for lack of bookings. However, the first thing I always look at is listing optimization. Your listing might not be optimized to come up on searches. If your listing is not optimized, then it doesn't almost matter what price you have because you will not show up on enough guest searches to matter.
Would you mind sharing your listing, either here or by message (if you don't want to post it publicly on the message board)?