Asking prices for used jets edged up slightly in October while falling for piston singles and turboprops, according to analysts.
Sandhills Global, which pulled data on used aircraft from Controller.com and other platforms it owns, said jet asking prices climbed just under 1 percent month to month, while the market value of piston singles dipped by 1.8 percent and turboprops lost about 4.1 percent.
The change in prices in October was small but more significant than in the September period, where Sandhills saw largely sideways movement.
Inventory levels for used jets fell slightly compared to September. The gap was most evident in the large jet category, which saw a 5.6 percent drop.
On a year-to-year basis, the number of used jets for sale has fallen by 15.7 percent.
There were more piston-single and turboprop aircraft on the market in October than there were in September. However, year-to-year, piston-single inventory levels are down around 4.7 percent, while turboprops saw a decline of 15.8 percent, bringing the category roughly in line with used jets.
Asking prices for all types of used aircraft surged in the years immediately following the height of the COVID-19 pandemic as demand greatly outpaced supply. The market began to normalize in 2023, though many of the factors that fed the boom, including manufacturer backlogs, have persisted.
