"What does 'Contingent' mean on a listing" is a common question from consumers.

"What does 'Contingent' Status mean on a listing," is a question I am asked frequently particularly by prospective homebuyers.  The answer to that question depends on the rules and regulations for the local area.

In the Triangle area, "Contingent" status is defined by the Triangle MLS as a property that is under contract, but is still available to be shown and for which the Sellers would accept a Back Up Offer.

The nature of the contingency may be further defined to some degree in the listing.
If the Buyers of the property have a home of their own to sell before they can close, and the Contingency is based on that sale, typically there is a "Contingent Addendum" to the contract.  That fact should be disclosed in the listing.
Such disclosure is good service to the Seller client, as it may encourage other Buyers to view and make Back Up offers.

If the sale of the property is only Contingent upon common Buyer Due Diligence items such as satisfactory inspection, loan approval, appraisals, surveys, environmental investigation, etc, then no "Contingent Addendum" would be expected or disclosed in the listing. 
But the home is still considered to be "On The Market," available for showings and accepting offers.

Also, if the Seller prefers, the property status can be changed to "Pending."  "Pending" indicates that the property is not available for showing.  Pending status may be desired by a Seller who feels very good about the contract, or is just tired of the disruption of keeping a home ready to show on short notice. 
My personal recommendation to my Seller clients is to keep the property in "Contingent" Status on the MLS until just before closing, as long as there are Buyer contingencies in place.

Bottom line:

The only real difference between "Contingent" and "Pending" is the tacit availability of showing the home when "Contingent," which doesn't apply when "Pending."

Another post in the series, "Don't Answer the Same Question Twice."