Boat sales rebound in August

After three months of sales being down, activity picked up at U.S. boat brokerages in August, with an increase of 72 boats, or 2 percent, to 2,983 from the same month last year, Soundings Trade Only reported.

The total value of the boats sold also rose by $65 million as $344.4 million changed hands, according to reports by YachtWorld brokers.

All of the volume growth and most of the value growth was credited to more activity on the powerboat side of the market, according to Soundings Trade Only. Powerboat sales increased 3 percent from last August, as 2,461 boats were sold for $301.4 million, up 28 percent from $236 million in 2015.

Sales were up among most sizes of boats, especially mid-size boats 36 to 55 feet. From 46 to 55 feet, the number of boats sold rose from 165 to 195, or 18 percent. Between 36 and 45 feet, the number increased from 633 to 662, a 5 percent jump.

Sales values were higher in nearly every size range of the market; sales of superyachts (80 feet and larger) led the way with a $40 million gain to $59.7 million.

Average sales prices also were higher in every size range, not only among large yachts. Among all boats under 35 feet, the average price rose 11 percent from August of last year.

Through August, 21,606 boats had been sold, which was down 1 percent from 21,896 in 2015. The total price paid was even with last year at $2.65 billion.