Having worked in the realm of affordable housing and economic development for the last several years, I have learned that assessor data is both a necessity and a pain in the neck when it comes to sales information. For most purposes, MLS (multiple listing service) sales data is sufficient. However, given the level of detail required in, for example, a housing needs assessment, MLS will typically not suffice.
Some reasons not to rely solely on MLS sales data:
- For Sale by Owner properties are not included.
- Realtors can make mistakes in recording the data.
- Sales prices tend to be inflated.
- MLS data is proprietary and not always easily accessible.
Some reasons to use assessor data include (the necessity part):
