September 2025 Market Report: Inventory Tightens And Prices Are Rising

The used construction equipment market is always quite interesting to look at. Every minor decision regarding the tariff or supply chain laws can directly influence the market value. The same has been happening for a few months in this market.

The market is tighter than it was a year ago, as evidenced by the overall inventory falling 11.04% year over year and 1.72% month over month. Depending on the category, that drop has varying significance, which is where the true story lies.

Used crawler excavators displayed the largest year-over-year inventory reduction at 13.78%, while used dozers led the monthly availability decline at 2.33% M/M. 

The supply of crawler excavators has been declining more steadily over the past year, while dozers are currently rapidly running out. There will be more competition for the appropriate units if your operation requires either.

Why are asking prices of equipment declining? 

With asking values down 2.75% year over year and 1.22% month over month, sellers’ asking prices loosened in September. The softening is most noticeable in wheel loaders for sale, where asking values are down 5.63% year over year, and crawler excavators for sale, whose asking prices dropped 2.87% month over month. 

Rather than a crash, that combination suggests that buyers currently have more negotiating power in those categories.

This is an opportunity for buyers to select locations. Although well-maintained machines with spotless service records will still fetch a higher price, you can be more aggressive with units that require maintenance or have more hours. 

The takeaway for sellers is to cater to the market: clean photos, well-documented upkeep, and a little price flexibility will reduce time on market without significantly lowering value.

What do fluctuating auction values signal for the market?

Auction results showed a slightly different pattern than asking prices, declining 0.48% month over month in September but increasing 1.21% year over year. 

Wheel loaders experienced the biggest monthly drop in auction values (2.51% M/M), whereas dozers stood out for a 3.02% increase in auction values year over year. Auction prices can rise even when asking prices are fluctuating when projects require equipment quickly, providing a real-time indicator of buyer urgency.

When using auctions as a channel for acquisition, consider each sale as a net-cost exercise and include buyer fees, shipping costs, and any reconditioning in your ceiling price. 

The successful auction results for dozers indicate that some buyers are still willing to pay a premium for specific machines, but the auction market is cooling in some areas.

What should buyers do now in this tough market?

Crawler excavators and wheel loaders are the categories where asking prices and auction signals indicate negotiating room, so buyers who can wait should be picky. the time to verify hours, service records, and structural condition; a lower asking price doesn’t always mean a better deal once repairs and downtime are counted. 

If a specific dozer is essential to a project, don’t count on it remaining available; a tighter inventory there means taking decisive action on units that are well-documented and reasonably priced.

Logistics and finance are more important than ever. If project timing is flexible, take into account short-term rental or lease options and lock in transport and inspection windows before committing. In a market where prices and availability differ greatly by category, this saves money and prevents overpaying.

What should dealers and sellers do in this fluctuating market?

It is not advisable for sellers to maintain “high-aspiration” pricing. Sellers who present machines transparently win quick, clean transactions as asking prices ease overall. Recent service, clear photos, and honest descriptions lower buyer friction. 

Wheel loaders and crawler excavators will need better packaging or small compromises, but dozers are a relative strength—proper pricing there can yield better-than-average returns.

Dealers can set themselves apart by providing financing or trade-in options, inspection reports, and straightforward warranty terms. 

In a market where asking and auction prices are trending toward selective softness, those actions lessen buyer hesitancy and aid in turning listings into sales.

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