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A World Series bump for home sales, prices?

Posted by Scott Van Voorhis October 31, 2013 09:45 AM

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It will be interesting to see if the big Sox World Series win spills over into the local real estate market.

I guess I am only half serious here. Still, with 90 percent of Boston area on a high right now, and with a celebratory mood in workshops, offices and schools, it will be interesting to see how buyers and sellers react.

Will buyers add a thousand or two extra to their offers, or will they take inspiration from a gritty, overachieving Sox team to hold out for a more reasonable deal?

And what about sellers? Hopefully, the first World Series win at Fenway since 1918 won't convince that small but stubborn group of deluded sellers to go for a Big Papi-like grand slam when setting their listing prices, but you never know.

More seriously, eight pro sports titles in a little over a decade have generated lots of free advertising for the Boston area as a great, sports crazed place to live.

Certainly our local teams weren't much of an attraction to outsiders back in the bad old days of the 80s and 90s, when only the Celtics were winning anything.

The Sox before John Henry were cursed and the Patriots, before Robert Kraft rode to the rescue, were just pathetic.

All that has changed since 2002, with the Patriots and Red Sox winning three titles each and the Celtics and Bruins bringing home a title apiece.

I am sure it's all coincidental, but Boston area home prices went from high to crazy during the same time period.

Greater Boston home prices are 63 percent higher than they were back in 2000, according to the latest Case-Shiller report.

What's your take?

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Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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