EquipmentWatch’s April Market Report states that the average full market value (FMV) for used construction equipment in February 2023 was 4.2% higher compared to February 2022.
With prior month-over-month declines seen in 2022, overall rates remain flat compared to January 2023 with a 0.8% decline.
The EquipmentWatch report states that resale activity in February was 47% below February 2021 and 15.8% below February 2022.
Comparatively, auction activity was much higher, increasing 27.7% over February 2022 and 143.7% over January.
Among resale and auction channels, some of the top-selling types of equipment were crawler excavators, articulated wheel loaders, compact track loaders, compact excavators, and skid steer loaders.
Hydraulic excavators are most prevalent in both markets, accounting for nearly 15.8% in either segment.
For resale, popular model years range from 2015-2019, with 9.3% favoring either 2018 or 2019. At auctions, the model year range is similar with 2018 models being the favorite at 12.1%.
Each month EquipmentWatch highlights an equipment subtype to review performance compared to the larger market. In April, the report highlights CTLs, skid steer loaders, and compact excavators.
According to the report, the average FMV for those three types of machines was up 26.7% over February 2021 and 9.9% over February 2022, far outpacing the general construction sector.
Reflecting the boost driven by infrastructure and manufacturing construction, resale for the compact machines was down 3% compared to February 2022 and a significant 45.7% compared to February 2021.
The monthly report from EquipmentWatch tracks resale and auction prices for over 15,000 models across 389 manufacturers throughout North America.
EquipmentWatch is owned by Randall Reilly, parent of Equipment World.