The used construction equipment market sent mixed signals in March, according to Sandhills Global’s latest market report. Trends varied widely across heavy-duty, medium-duty, and lift equipment categories, highlighting the complexity of current demand and pricing dynamics.
Inventory levels for used heavy-duty construction equipment—including crawler excavators, dozers, and wheel loaders—declined slightly by 0.28% month-over-month but remained 3.33% higher than March 2024 levels. Notably, wheel loaders led the year-over-year inventory increase at 14.22%.
Despite lower stock levels, asking values dropped 0.62% month-over-month and 3.85% year-over-year, with crawler excavators seeing the largest year-over-year decrease at 5.11%. Auction values also edged downward by 0.23% month-over-month and 2.88% year-over-year, though they are now trending upward. Wheel loaders saw the steepest annual drop in auction value, down 6%.
In the medium-duty segment, which includes skid steers, loader backhoes, and mini excavators, inventory fell 1.28% from February but was up 5.9% from a year earlier. Loader backhoes posted the largest monthly inventory decrease at 2.28%, while wheel skid steers saw the highest annual rise at nearly 10%.
Asking values for medium-duty machines rose 1.21% month-over-month, though they were down 4.05% year-over-year. Track skid steers showed the sharpest annual price decline at 6.66%. Auction values increased 1.54% month-over-month but declined 3.39% over the year. Mini excavators led the March auction value gains at 2.28%.
The lift equipment market saw inventory expand significantly, up 3.52% month-over-month and 17.87% year-over-year. Telehandlers and cushion tire forklifts led the growth, rising 5.16% and 36.33% respectively. However, prices continued to fall: asking values dropped 2.49% month-over-month and 9.74% year-over-year. The largest asking value declines came from telehandlers (down 5.72%) and rough terrain scissor lifts (down 14.2%).
Auction values for lift equipment slipped 0.88% month-over-month and 6.19% year-over-year. Telehandlers again led in monthly declines at 3.69%, while cushion tire forklifts saw a substantial 18.06% drop over the past year.
