Used business aircraft inventories continued to climb last month while asking values are declining, according to Sandhills Global’s latest marketplace report. Even so, aircraft values remain higher than a year ago, the company added.

Specifically, preowned business turboprop inventories in the U.S. and Canada increased 3.18 percent month-over-month and 10.19 percent year-over-year. At the same time, values dropped between November and December by 3.58 percent but asking prices were 18.72 percent higher than a year earlier.

Global preowned business jet inventories increased for the 11th consecutive month, rising 2 percent month-over-month in December and 148.29 percent year-over-year. And while asking prices dropped 3.58 percent between November and this month, they rose 16.97 percent from a year ago.

“Asking values for used aircraft still remain elevated, but as used inventory levels continue to trend upwards from the historical lows of early 2022, sellers need to carefully monitor aircraft value trends in the near future,” said Brant Washburn, department manager of Controller, Sandhills’ aircraft marketplace.