Challenger 300, Challenger 604, Challenger 605
After a strong second half to 2020, Challenger 300 demand continues into 2021. There were seven transactions during the first quarter, up comparably to five sales a year ago. There have now been 30 Challenger 300 transactions in the past nine months. Inventory has also sharply declined, down to just 17 listings, a 32% drop from the fourth quarter of 2020. Pricing cooled off in December, which has had an effect on the book numbers for this quarter. However, with the depleted inventory situation we are in, watch for prices to firm up and possibly increase as we head further into 2021. With continued demand and low inventory levels, now is a great time to sell your Challenger 300.
Challenger 604 inventory has declined for the third consecutive quarter, with transactions slowing down after a busy fourth quarter. There are currently 28 Challenger 604’s for sale, down from 30 last quarter and down 20% since Q3 2020. Current listings represent 7.9% percent of the active fleet. Transactions have cooled down a bit, with just four transactions taking place. This ties Q2 2020 for the slowest quarter in the past three years. Even with the reduction in sales, pricing has held steady for the second consecutive quarter. Even with a pause in the action to start the year, with inventory declining and pricing holding firm, this market remains factorable for sellers.
After the big pricing hit halfway through 2020, Challenger 605 pricing has held firm, and inventory levels are declining. There are currently 23 CL605 listings, down 23% from last quarter. This represents 8% of the active fleet and is the lowest since Q2 2019. During the first quarter, there were eight transactions, an expected pullback from the busy fourth quarter, but still more than any Q1 in the past few years. With pricing holding strong and inventory declining, now is an excellent time to list your Challenger 605.
