Equipment Value - Market Update February 2024
As we keep a steady pace through the toughest parts of winter, so does the equipment market.
Construction:
Fair Market Values (FMV) for Construction Equipment have experienced a decline in value dropping from $100,461 to $100,245. Trends suggest that newer equipment is entering the market likely due to industry efforts to modernize and stay relevant among evolving demands. As a result, used Construction Equipment has consistently been showing a downward trend with a 1.4% decrease in November 2023.
Lift/Access:
The market entered 2023 on a high note with a large 12.36% increase in Fair Market Values but has now fallen into a mild decline since that fall. While the decline is rather small, this could potentially be a sign of a more stable market approaching
Agriculture:
All signs point to a relatively stable and resilient Agriculture Equipment market. As both age and usage have increased over the past few years, it is clear that there is an active market for used Agriculture Equipment. People continue to add more modern equipment, and others revamp existing equipment.
Source: EquipmentWatch by Randall Reilly (full report here)
Malahat Valuation Group specializes in business valuation and real estate appraisals to owners of privately owned companies and their professional advisors. When owners need to leverage, sell or reorganize their assets, we answer the age-old question "What is it worth?".
We provide our clients and their advisors peace of mind by preparing professional valuations that stand up to scrutiny from lenders, the Courts and the Canada Revenue Agency.
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