Boats Group, which is composed of Yachtworld.com and two other websites, recently announced findings from its latest market report, analyzing the first half of 2022 and comparing them to pre-pandemic boat prices in 2019.
The classified-ad company reported that consumer demand coupled with lower-than-normal inventory levels drove these historic spikes in boat values. Boats Group reports that the global average boat price is now $182,900, an increase of 28.9% from 2019. What's more, boats are moving off the market faster, selling in 32 days faster than last year and 83 days faster than in 2019.
No Sign of Slowing Down
“The continuous and strong growth we’ve seen from our marketplace data is a key indicator of the overall health of the boating market,” said Courtney Chalmers, vice president of marketing at Boats Group.
"Throughout the past year, budget-friendly options have become increasingly popular for buyers looking to get out on the water. Boats in the 26’ (7.92 m) range saw an average price increase of 71.5% in the U.S. and 140.6% internationally compared to pre-pandemic values," Chalmers said. "The overall market driver for unit sales from 2019 to 2022 were boats in the less than 35’ (10.67 m) segment.
“As we head into the second half of 2022, we’re closely tracking the volume of boats listed for sale,” said Chalmers. “Early indicators show inventory making a comeback and becoming more consistent compared to the peaks and valleys we saw in 2020 and 2021. This positive trend will help boat builders, dealers and brokers be well-positioned for the strong consumer demand that doesn’t appear to be going anywhere.”