Boston Real Estate and the Red Sox
In the spirit of the Red Sox being in the World Series, I thought I'd have a some fun and check out how the Boston Real Estate market performed when the Red Sox win the World Championships. Most recently the Sox won the World Series in 2004 and 2007, so it will be interesting to see how condos for sale in Boston performed. I certainly wouldn't buy a condo in Boston based on any of this information, and unlike the economy and the stock market, I don't think the Red Sox winning or losing will benefit or hurt the Boston real estate market.
Not surprising, 2004 was a strong year for Boston condo sales, with prices rising 11.2% year over year. What was surprising was the similar trend in 2007, with Boston condo sales rising 10.72% year over year. I thought real estate in Boston had a down year in 2007, but apparently not. Could it be that when the Red Sox have a positive year, the Boston real estate market does as well? Let's hope Boston condos sales continue their strong 2013, and the Red Sox bring home another World Series Championship. Maybe the Boston real estate market will be on fire in the months after the Sox win a championship, as the players look to upgrade their homes in Boston in the off season!
2004
Boston Condos Sold – 4,234
Average Price - $408,707
Avg. Days on Market – 56
Price Change from Previous Year - 11.2%
2007
Boston Condos Sold – 4,527
Average Price - $494,202
Avg. Days on Market – 107
Price Change from Previous Year - 10.72%
