The inventory of preowned business jets is down 27 percent from a year ago, with just 2.7 percent of the in-service fleet on the market, according to a report this morning by Jeffries Equity Research. Large-cabin jets led the decline in availability, down 34 percent since last September, followed by midsize jets (down 27 percent), and light jets (down 24 percent).

By OEM, the year-over-year decline in used inventory was led by Gulfstream, which fell from 3 percent of the available fleet last September to just 1.8 percent, or 34 aircraft, this month. Dassault inventory levels decreased by 36 percent, with nine aircraft on the market—or 1.7 percent of the Falcon Jet fleet.

Meanwhile, available Bombardier jets dropped by 29 percent, to 48 units. The number of the Canadian airframer’s on-market, preowned Globals and Learjets decreased while its Challenger offerings rose by 20 percent on the market year-over-year. Embraer units for sale fell to 28 jets—a 13 percent decrease from a year ago. There are also 76 Cessna Citations on the used market, representing a mere 1.9 percent of its active fleet.

Overall, Jeffries's analysis determined that average list prices for preowned aircraft have risen by 22 percent from a year ago. This was led by Cessna Citations, which saw its average prices climb 36 percent year-over-year.