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January 2024 Equipment Market Update - The New Year Brings Some Stability to The Market


Orange and black shape graphic with white text that reads "Machinery & Equipment Market Update"

The start of a new year when the Holiday rush is over and life gets back to normal, as does the equipment market.
 

Construction


In the first month of 2024, Fair Market Values (FMV) for construction equipment have dropped ever so slightly to $100,461.67 from $101,194.60 last quarter. This dip contributes to the overall gradual six-month decline of construction FMV which could signal some market adjustments.  




Line graph that shows Construction FMV and FLV Trends



Lift/Access


Fair Market Values for Lift/Access equipment, however, continue to gradually climb in alignment with what experts have seen throughout the majority of 2023. Most notably increasing in values, usage, and age in the resale channel despite rising costs, labour constraints, and other obstacles.



graphic showing the percentage risen in FMV and decline of FLV for lift/access equipment.



Agriculture


The Agriculture Equipment Market continues to maintain some strength and stability with both Fair Market Values (FMV) and Forced Liquidation Values (FLV). With FMV at $44,995.32 and FLV at $29,572.09, trends are consistent according to analysis, showcasing a strong and unmoving





Line graph showing the Agriculture FMV and FLV trends.

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.

 

Malahat Valuation Group Inc.

(250) 929-2929


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