Sales agent Adrian Chisholm confirmed owner David Bryce has this week re-entered discussions with previous prospective buyers.
The iconic train, which runs between Kingston and Fairlight, is on the market for $2.1 million, which includes two locomotives, carriages, land and sundries.
Mr Chisholm said: "All I can say is that, yes it's still for sale and yes negotiations are still progressing at different levels with different buyers. We're hopeful over the next month things will become clearer."
Enthusiast Karl Barkley is holding a public meeting on November 5 as he continues his attempt to create a trust to buy and run the Flyer. Barkley said Bryce has invited an offer despite previously saying he would not sell it to Barkley. Another buyer is also in discussions.
