Current market conditions 11/14
If you haven’t noticed already, the yacht sales business in the Bay Area has rebounded significantly. The yachting community in the Bay Area is experiencing a notable resurgence. 2014 has been Ballena Bay’s best year since 2007! Thankfully for other businesses involved in boating, they are experience a renewed interest in boating as well. Stop by your local boatyard and take a look. More owners are having work done than ever before. Buyers in today’s market are finding that financing is more readily available, and as their financial situations stabilize, they’re taking advantage of loan rates in the high 3% to low 4% range. Current owners are seeing their values stabilize as well, creating opportunities for those wishing to sell.
I’m sharing with you a page from YachtWorld’s quarterly sales report that I think you might find interesting. While it points to slightly decreased sales from 2013 YTD, what it does not cover is the individual sectors in the market, i.e. Bay Area, L.A., or Seattle. Sales of larger vessels are strong, and values of these boats are higher than in past years.
Graph/Table Credit: YachtWorld.com