Should multiple listing services allow condos to be listed in two separate listings: one as a condo and one as a single family residence?
The Multiple Listing Service Property Information Network (MLSPIN) which serves most of Massachusetts allows condos to be listed in two separate listings: one as a condo and one as a single family residence. When the condo sells the listing as a single family residence is cancelled, and only the sale as a condo is reported. The effect of this is that the number of single family residences on the market is over represented.
A recent check of the market in Newton, MA found that 10% of the single family residence listings were actually condos. This would mean that the absorption rate reports generated from the MLS data would also be off for single family residences, and the number of months of inventory will be too high. In other words the market for single family residences is better than most agents believe.