Asking values for used turboprop aircraft increased 4.8 percent year-over-year, according to the latest Sandhills Global aviation market report. The report states the average turboprop aircraft value increased by $64,209, to $1,412,023, between December 2020 and December 2021.

Higher asking values are the result of dwindling used turboprop aircraft inventory, especially in key age groups and for certain models, according to the report. Overall inventory is down 56.6 percent year-over-year, according to the report. For turboprop aircraft 10 years and younger, inventory is 64 percent lower year-over-year, while inventory for turboprop aircraft 25 years and older was down 52.2 percent year-over-year.

Looking specifically at Beechcraft King Air turboprop twins, the Sandhills Equipment Value Index was 2.8 percent higher year-over-year in December. It was up nearly 19 percent year-over-year for the King Air 200 series, which Sandhills Global said was the key driver of King Air asking values. For the year, King Air 200 asking values are up $330,000 year-over-year, reaching an average of $2 million in December.