Used RV prices go up, but maybe not why you think

“The average values for both motorhomes and towables sold at wholesale auctions rose for the second month in a row,” reports Black Book’s Eric Lawrence. Used RV price averages did go up, but there’s a tweak in the statistics that may give a false impression. Hang on as we look a little more closely.

That motorhome sawtooth is gone

Black Book is a wholesale used-vehicle market watcher, and Eric Lawrence is the principal analyst for RVs and other specialty vehicles. Each month we get to chat with Eric and get a little more insight into what’s behind those numbers. One thing that jumps out this time is that the motorhome price sawtooth dropped out. Sawtooth? Yes, for months the used motorhome auction prices for motorhomes took turns. Up one month, down the next. But not this time—motorhome values are up for two months running.

What’s behind the break in the pattern? It may have something to do with the statistical tweak we talked about. There were a couple of things that might tend to skew the numbers. First is the age of motorhomes crossing the block. The average motorhome sold in the most recent market month—April—was built in 2016. In March, the average model year was 2015—a year older. With a larger volume of newer motorhomes crossing the block, the average sale price would increase.

The second factor that may have skewed apparent prices for motorhomes up? In terms of used auction prices, Lawrence relates that “three or four really expensive units” came through the auction process. These units were in the $300,000 to $400,000 range, something not typical in the wholesale auction market.

Breaking it down for motorhomes, the average selling price was $59,231, up $3,281 (5.9%) from the previous month (March). How do things stack up looking into history? One year ago, the average selling price was $65,365. That means that while motorhomes were up, month by month, the reality is that compared to a year ago, prices are down by more than 9 percent. Auction volume was up 7.9% from the previous month.

And towable prices?

Did used RV price averages go up for the towable side? As we’ve seen since December 2023, towables have been trending upwards. April was no exception, with towables coming in at $19,606, up $833 (3.2%) from March. Auction volume was up 17.4% from the previous month, March.

Prices for towables, when looked at on a year-over-year basis, have also dropped. In April 2023, the average selling price was $21,230; this year, $19,606. That’s a 7.7% drop—but still towables are holding their value better than motorhomes. The average towable model year sold was 2019. That’s the same model year average that sold last month, so we can dismiss any thought that prices are being skewed for towables.

Comparing the used wholesale market to new rigs going to dealers is interesting. RV manufacturers are having a hard time convincing dealers to take on motorhomes of any kind. But RV dealers still haven’t given up on used motorized rigs. Eric Lawrence observes, “The volume of RVs sold at auction also increased across the board, an indication that dealers are still buying more inventory to restock their lots and make sure they have the correct mix of units.” Evidently that “correct mix” means some motorhomes—but not the pricey new ones coming out of Indiana and elsewhere.

As to the favoring of towables over motorized, the Black Book expert holds to what he’s told us before. So many people have pickups and large SUVs in their driveways, it only makes sense to buy a towable. “Who wants to drive a motorhome to the store?” he asks.

And future prices?

Prognostications for the future? Lawrence tells us his crystal ball needs a bit of polishing. If history is a tell, next month’s report will probably show strong auction movement—and higher prices, particularly in the Northeast and Northwest, as residents come out of hibernation.

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