Sales prices of preowned business aircraft have increased between 20 and 30 percent as the market continues to see historically low inventory, according to the International Aircraft Dealers Association’s (IADA) third-quarter 2021 market report. Despite the tight inventory, IADA dealers reported 182 aircraft agreements, compared with 110 in the same period last year.

Further, only seven transactions were made because of lowered prices versus 83 in the third quarter of 2020. Also during the quarter, 40 transactions fell apart, which was 10 fewer than the year-ago quarter. Total deals closed by IADA dealers were 325, up from 283 in last year’s third quarter.

“Clearly, the market for used business aircraft is at an unusual place, with much higher prices and dearth of inventory in the most modern used business aircraft markets,” said IADA executive director Wayne Starling. “The third quarter responses from our membership predict the next six months will continue to have increased pricing and demand for all sectors of the market, while inventory deficiencies will continue to drive higher prices.”