There is no other time of the year that compares to what is about to take place next week. That of course is March Madness and the NCAA Tournament. As conference championship week dwindles down to a close the NCAA Tournament bracket is quickly filling up as teams continue punching their tickets everyday. Presently there are 13 teams who have done just that by winning their respective conference tournaments.
As each year comes and goes so too do prices NCAA Tournament tickets which have increased each of the past three years. For instance in 2012 the average ticket Best Buy for the tournament was $215, in 2013 it went up more than 11% for an average price of $240 and this year its over $50 more than last year clocking in at a steep $292.
Getting a little deeper into the ticket data, we see that the East Region has an average price of $691, more than double the price of any other region. Currently, the West Region is averaging $287, the Midwest Region is averaging $263, and the South Region is averaging $226. Having a venue like Madison Square Garden hosting this year's East Regional is clearly driving up demand and ticket prices. If a team from the New York area, like Syracuse, ends up making it to the Sweet 16 in The Garden, expect to see that average price increase dramatically.
That astonishing average price of the East Region, up 114% from last year alone, is the highest of any we have on record with the next closest being the 2013 West Region which went for $342. In fact the East Region has such a high average ticket price this year that only the Final Four All Sessions ticket is the only one that is more expensive at $1,100 while a regular Final Four ticket goes for $641 and the Championship Game at $631. Ironically, the average price Final Four tickets this year is currently $641, with a get-in of $142, and is the only round that has a lower average price this year compared to both 2012 and 2013. Those two average prices for Final Four tickets were $723 in 2012 and $888 in 2013. This is most likely due to match-ups and fans of those final four teams driving up demand and price. Obviously, with this year's final four match-ups still weeks away from being decided fans are still waiting patiently to see if their team makes the big dance.